Quay was planned as a gated development (July 2009)
Buyer wants two Regatta penthouses (April 2009)
A prospective buyer wants TWO Regatta Court penthouses to use as one huge apartment. Eagle One director Chris Fayers said that talks were at an advanced stage on the client’s bespoke specifications and he was hopeful the sale would go ahead. Property consultant Hugh McKenzie, who is in charge of the sales office, said the better weather last month had boosted inquiries and one third of the 39 properties had now been sold. He said a showhome was to be created later in the summer and this would also stimulate interest. Kevin Jobe, the operations manager for the builders, Midas, said the concrete frame and all five roofs had been completed by the start of the year and they were now installing wiring and pipework, dry lining and plastering interior walls and fitting underfloor heating and screeding the floors. He said the eight units in the corner of the building next to the Madison Wharf block would be finished first, probably in May, but these could not be occupied until more of the site was completed, around the end of June. * Quay developers Eagle One will soon be working on a site in Trefusis Terrace. An old property with panoramic views of Exmouth seafront is to be demolished and five town houses built. The four- storey homes will be priced at around £750,000.
These spectacular views of the estuary were taken from a penthouse in the soon to be completed Regatta Court (see arrowed inset). There are nine other penthouses among 39 propertie being built in the complex. Prices range from £420,000 to £800,000. Builders Midas say they are on schedule to finish in August.
£800,000 Regatta Court flat sold and first families in by August: big Home
Counties, Midlands interest
One of the prime apartments in the Quay’s Regatta Court development, priced at almost £800,000, was reserved in the run up to Christmas and there were five other “serious inquiries,” including one for a penthouse. Property consultant Hugh McKenzie, who is in charge of the sales office, said the reservation was on a three-bedroomed, mainly south-facing apartment with a wrap-around balcony on the fifth floor. It was made by a couple who are soon to retire to the area. Hugh, who has more than 20 years’ experience of the property market, said the building work was on schedule for the first of the Regatta completions in August. Hugh reports directly to developers Eagle One and liaises with joint selling agents, Strutt & Parker and Bradleys. He said 11 contracts had been exchanged and he expected sales to gather momentum in the New Year. “We’re pleased with the interest in Regatta, particularly when you consider there is a general lack of confidence in the property market,” he added. “There is a recession, it’s winter, it’s grey and it’s cold and there’s always a reluctance by some people to buy off the plan.” He said when there was a finished showhome in Regatta it would help enormously and explained: “Some of the people who followed up their initial inquiries with an accompanied ‘hard hat’ visit to a particular property on site came back in raptures.” About 60 to 70 per cent of the inquiries were from people planning to retire here and there was a lot of interest from the Home Counties and the Midlands. Midas senior project manager Stuart O’Higgins said they were in a commanding position with construction and confirmed that the building was on target for an August completion. There was a topping out ceremony on 15 December when the last of 5,500 tons of concrete was poured into the structure. He said two of the five roofs were up when the site closed on Christmas Eve and the others would soon follow when work resumed on 5 January. Stuart said the combined space of all Regatta’s floors would equal the size of Wembley Stadium.
Eagle One had originally planned to make Exmouth Quay a gated development, director Chris Fayers told the Residents’ Association. He was responding to concerns at the continued haphazard parking on Shelly Reach and Shelly Road and said: “In the very early days we had anticipated that Exmouth Quay could be gated, but the residents of the town wanted to keep the area open for the public. The consequence, as you point out, is one of indiscriminate parking.” EQRA official Roy Pickering had written to Eagle One and said he understood the adoption of Shelly Reach, which had been developed by Fowler-owned Eagle Investments, was imminent. He said he had been told by a Devon County Council official that there were obvious benefits in dealing with the whole spine road as one entity and as this included Shelly Road there could be advantages for the other developer (Eagle One) in applying for a Traffic Regulation Order in advance of adoption. Mr Pickering said parking on Shelly Beach was soon likely to be curtailed and there was concern there could be back pressure on the spine road with indiscriminate parking. “Residents would like to anticipate this and avoid the knock-on adverse effects as far as possible,” he said. “Furthermore, with the increasing number of vehicles as Regatta Court is completed, there will be even more pressure.” Mr Fayers said he believed Eagle Investments were close to having Shelly Reach adopted “but until that takes place we are unable to have our road adopted.” He said there was an agreement between the companies to ensure the roads were ultimately adopted. He explained that prior to completion they had always tried to regulate traffic around the Quay development with a security firm. He said that “by and large” they had been succesful in keeping Shelly Road clear of parked vehicles and it was planned for the security company to continue its operation. A small sub-committee from the residents’ association is to have further talks with Mr Fayers about the whole Quay roads and parking issue.
News about existing properties and about properties planned or under construction.
Regatta Court viewhome opens on Saturday (July 2009)
A two bedroomed viewhome on the first floor of the new Regatta Court complex opened on Saturday July 4.. “It is a slightly different to a showhome as it won’t be completely furnished, but it is carpeted and has a fitted kitchen, bathrooms and en suites,” said Hugh McKenzie, who is in charge of the sales office. He said they hoped to have fully furnished two and three-bedroomed showhomes ready for viewing by the middle of August and until then he would be operating from his existing office on the ground floor of Madison Wharf. “We have had some very good enquiries about Regatta Court from people who are looking forward to seeing the showhomes,” said Hugh. “The first eight apartments will be completed by the end of this month and paved areas will soon be laid from the sales office to the entrance of the completed block and in the gap between the Regatta Court and Madison Wharf buildings.” He said the buyer who wanted two penthouses to use as one huge apartment was still in talks about his bespoke specifications and they were hopeful that the sale would soon be completed. The whole Regatta Court complex of 37 apartments and two town houses is expected to be finished by the end of next month. More than a third have been sold.