Developers behind the Royal Sands apartments, hotel and retail project on Ramsgate seafront say nearly all properties in the first phase of the scheme have now been sold.
Thanet-based Blueberry Homes is creating 106 luxury 1, 2 and 3-bedroom apartments, each with underground parking, a 60-bed hotel and gym and leisure and retail units. There are also plans for an upmarket spa franchise at the site.
The first phase of the build, at the Ramsgate Tunnels end of the site, consists of the 26 apartments with the planned hotel at the Wetherspoon end of the plot being in the last phase.
Retail units, taking up some 16,000 square foot, will be built alongside each phase with larger units at the hotel end of the site.
Blueberry Homes started work on the long-awaited Royal Sands in June 2020 and has an estimated three-year completion time.
Prices for the first phase apartments range from £275,000 to £750,000.
The company, which has worked on developments across Thanet for some 30 years, is using local trade and has consecutive Blueberry builds at the Boundary Road former gasworks site and Margate’s Dane Road.
An update from Blueberry Homes on the project says: “Having sold nearly the whole first phase off-plan since the autumn, this has been such a great endorsement for the project, with now just a handful of apartments left in the first phase.
“Our aim is still to finish the first apartments on Phase 1 early this summer. Phase 2 will be officially launched in due course, as it has been built and is in the process of being fitted out.
“These apartments will be available to purchase off plan soon. We’re also delighted to confirm, that due to demand Phase 3 is under construction ahead of schedule, and will be at roof height in a matter of weeks.”
Blueberry says increased demand is being driven, in part, by the extension of the stamp duty holiday until June 30 and the announced return of 95% mortgages for homes up to £600,000.
They also say the property market in Ramsgate, Broadstairs and Margate has remained very strong throughout, with recent and long forecast trends showing that many buyers are looking to escape larger towns and cities and relocate to the coast.
This is backed by the latest report from Property Market-Index.com. which was released today (May 1)
The index, which tracks key trends impacting part of the home buyers’ market, said the appeal of more indoor and outdoor space after being in lockdown for long lengths of time is a major reason for a seaside move.
However, this also means prices will be driven upwards, says senior researcher Amanda Collins.
She added: “We are seeing demand far outweigh supply and this is going to continue to drive house prices upwards for properties close to the sea.”
The report predicts the coastal market will continue boom over the next 5-10 years.
The Blueberry Homes update says: “Coastal towns have been outpacing London in terms of property price increases. Therefore, the development is also proving to be an investment for many.
“In the second phase of the development, the huge pent-up demand will be reflected in the ongoing value and pricing of these properties, which we will gradually start to release onto the market.”
There has also been interest expressed in the hotel which will anchor the site and in the retail units.
Blueberry Homes says: “Despite lockdowns, we are seeing further demand for the Royal Sands Ramsgate development in relation to the hotel, leisure and cafe culture that will form part of the fabric and feel for Ramsgate seafront and its Royal Harbour.”