Park Place

Aitch Group has announced the successful sell-out of its luxury development, Park Place in Finchley N3.

All 41 apartments have been sold since the development was completed 12 months ago, demonstrating strong buyer demand and confidence in new build homes as energy efficiency becomes a key consideration for buyers.

The development, located on the former Finchley Metropolitan Police Station site, features modern studio, one and two-bedroom apartments, retail space, and is opposite Victoria Park.

Aitch Group's focus on energy efficiency and unique marketing, including six different show apartments, contributed to the success of the development.

New research based on Government Energy Performance Certificate data has found that buyers of a new build house will save on average around £2,600 a year in energy bills. According to the Home Builders Federation (HBF) report "Watt a Save," which was released last year, purchasers of new homes last year saved over £500 million on their annual energy bills. Additionally, new homes emit a third less carbon than older properties, resulting in a reduction of carbon emissions of over 500,000 tons.

84% of new build homes have an A or B rating for energy efficiency compared with less than 4% of existing properties, according to Government EPC research and data.

Aitch Group carefully considered every element of the Park Place development to be more energy efficient and kind to the planet, as well as buyers’ pockets.

The developer also invested in unique marketing for Park Place by installing six different show apartments for buyers to view.

The six show apartments at Park Place were made to appeal to a variety of creative and young professionals with different tastes. Additionally, they were spread out over a number of floors, each with its own unique layout and view. This really resonated well with buyers and has contributed to the success seen at the development.

Aitch Group will continue to concentrate on acquiring new land. The developer has already deployed £64 million across five new sites after ring-fencing a £100 million fund at the start of the year, focusing on sites that can be optimized or replanned for residential, student housing, build-to-rent, or retirement living, either without planning permission or with an existing consent.

Henry Smith, CEO at Aitch Group commented: “We are thrilled with the sales success seen at Park Place. The energy efficiency of the new build homes, alongside their location and our commitment to marketing the homes to buyers in a way that meant they could truly envisage their lives there, has led to the excellent success we have seen. We look forward to taking the insights this development has offered us into all our future developments.”