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28 November 2002
As a Director of TCC Ltd, the Franchise Company for popular fast food outlet, Burger King, Sumit Chadha, prides himself on recognising good business opportunities, which is why the East London-based businessman decided to make a venture into residential property investment to guarantee a good return.
Sumit, who lives in Aldgate, EC1, had been keeping his eye on the Peckham area with interest, as the area was the site of one of his Burger King franchises, and also because of the massive regeneration project currently underway in the area:
“I had been watching the Peckham area with interest for some time,” he confirmed. “The development underway is very impressive and it is clear that the whole of Peckham is set to enjoy a bright future. It looked like a great area to invest in.”
Sumit chose Copthorn Homes’ South Quarter development, which is at the very heart of the regeneration of Peckham, to make his investment:
“The development enjoyed a very prominent location with good access for transport and commuting, and I also felt that the tree-lined approach and the architecture made it very desirable,” continued Sumit. “And living in Aldgate, I had naturally heard of Copthorn Homes before, as the Company is very prominent in the East of London, which also gave me added confidence.”
Copthorn Homes’ striking South Quarter development is set to become a new landmark for Peckham. The development will feature a total of 108 one and two bedroom apartments, created to resemble a traditional Victorian London terrace in keeping with the existing architecture, however, once inside, the scheme will feature a variety of differently designed apartments, all benefiting from Copthorn Homes’ award-winning flair for innovative design.
There will also be 11 townhouses – due for release later this year - each including a garage to the rear, accessible through a pair of security gates, and interior layouts that feature spiral staircases, integral conservatories and superb open-plan living areas.
Encouraged by all the benefits offered by the newly regenerated Peckham area, Sumit decided to invest in an apartment that is currently being used as the Sales Office at South Quarter. This way, he was able to take advantage of Copthorn Homes’ Lease Back scheme, whereby those investing in showhomes or sales offices currently in use can lease the property back to Copthorn Homes for the remaining duration of the development:
“This is an excellent idea; I didn’t need to find a tenant straight away, and, as I bought at an early stage in the development’s timescale, my investment has already increased in value,” enthused Sumit.
South Quarter could hardly have a more convenient setting, a fact that certainly attracted Sumit. From its location in Kelly Avenue, it is within easy reach of local amenities including first-class shopping facilities, combining major high-street names with an eclectic mix of small, specialist shops, Oriental supermarkets and Caribbean grocers.
The newly created Central Square in the immediate vicinity boasts a state-of-the-art library, a proposed arts theatre and the new Pulse leisure centre. In addition, nightlife and entertainment is plentiful with restaurants, bars and cafes less than a mile from the centre of Peckham and with Southwark’s and Docklands’ fashionable nightspots and eateries within a short cab ride.
Peckham also has excellent transport links with New Cross and Elephant & Castle providing an efficient tube service around the capital. Peckham Rye and Queenswood Road are the nearest BR train stations, whilst air travellers will find that Gatwick, Heathrow and City airports are easy to access:
“Once my Lease Back scheme is over, I am certain I will be able to attract a good quality of rental applicant, given all the many amenities nearby,” confirmed Sumit.
Prices at South Quarter currently start at £138,000 for a one-bedroom apartment, from £165,000 for a two-bedroom apartment and £350,000 for a three bedroom townhouse.
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Information correct as at 28/11/2002