A beachfront development in New Polzeath has reported surging sales of its holiday homes.
Owners of the Atlantic House in Cornwall have invested £4 million to create nine luxury apartments, alongside 14 hotel rooms, a restaurant and bar. Located 50 metres from Polzeath beach, the properties are available to buy now on a fractional shared ownership basis.
Each apartment will be available in shared ‘fractions’ of five weeks. 50% of fractions are now reserved, and three apartments have completely sold out. Leases will be 999 years and fractions can be freely sold and bought.
Brothers Brian and Christopher Scholfield, together with their wives Helen and Julia, are stakeholders in Atlantic House. The property is a well-known Cornish institution dating back to the Victorian tourism boom of 1903.
Brian said: “The majority of buying interest has come from people who know the village and used to holiday at the the former hotel. There’s a wonderful sense of marrying the old Polzeath with the new Atlantic House concept.
“The development has also prompted interest from those new to the area who see our scheme as an affordable opportunity to secure beautiful property by the coast.”
The remaining apartments are priced between £105,000 and £135,000 with all but one below the stamp duty threshold. Other properties benefitting from the same front line position in Polzeath have experienced competitive bidding, and one six-bedroomed house is currently on sale with a guide price of £1.95 million.
Jo Ashby, director of John Bray & Partners estate agent, said: “The market is particularly positive at the moment. Post-election, we’ve seen a surge in activity, particularly in the Polzeath area. People are feeling a lot more comfortable and stable with their long-term outlook.
“A high level of enquiries have come from buyers who realise that they would potentially only use a full-time holiday home for five weeks of the year. With the Atlantic House, they have access to that same amount of time, but it’s much more affordable with the added benefit of a frontline position and hospitality service.”
Named after north Cornish beaches and coves, each fully-furnished apartment will feature two or three double bedrooms sleeping up to eight people. Owners will be able to pre-book additional hotel rooms for larger groups, enjoying the same amenities including room service, fresh linen, laundry and cleaning services. Owners will also be able to swap or trade weeks or rent out their apartments on a commercial basis.
Following preliminary investigations and groundworks in June 2015, principal contractors Pemberton Homes started on site, putting in place a temporary road diversion. Building will continue in collaboration with construction consultant Robinson White Partnership, structural engineers A J Sands, and architects Kendall Kingscott. Atlantic House opens for trading in June 2016.
For further information regarding Atlantic House and to reserve a fraction, visit www.theatlantichouse.co.uk or telephone John Bray & Partners estate agent on 01208 863 206.
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Notes to editors
Atlantic House
The Atlantic House Hotel and Apartments in New Polzeath, Cornwall has welcomed guests for more than a century. Built in 1903 for staff of Lanhydrock House, the property reopened as a hotel following the post-Victorian tourism boom in 1910, and has remained a much-loved village institution through the decades.
A unique beachfront development, Atlantic House will include 14 luxury hotel rooms; an all-new bistro and bar; and nine fully furnished apartments available to purchase on a fractional ownership basis.
The property has frontline access to Polzeath Beach, well known for its gentle surfing waves which have proved irresistible to Princes William and Harry, David Cameron and Hugh Grant. The area is famous for stunning walking on the South West Coast Path; one of the country’s top golf courses at nearby St Enodoc; and outstanding food and drink, with Nathan Outlaw, Rick Stein and Paul Ainsworth’s restaurants within easy reach.
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Katie Sandow, Barefoot Media | Email: katie@barefootmedia.co.uk | Phone: 01208 895089
