Developers at Larkfleet switch priorities because of changes in demand

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A change in the property market has forced developers from Larkfleet Homes to make 24 apartments available earlier than planned.

The company originally had planning permission to build 18 two and three-bedroom apartments during the first phase of the Oakham Heights development.

A drop in demand forced the developers to put the apartments on the back burner while demand for bigger homes increased.

But sales director Ben Burge says a resurgence in demand for apartments has forced them to amend their plans and instead start work on 24 smaller one and two-bedroom apartments on the same plot. They are expected to be ready by June.

Mr Burge said: “We didn’t move forward because there wasn’t an appetite for apartments at that time. This is an indicator that the market is improving, especially for first-time buyers thanks to the government’s Help to Buy scheme.”

Larkfleet Homes is about 60 per cent of the way through the first phase of its plans, which will see 143 homes built on the Leighfield Park section of the site.

Fifty of the homes already have people living in them.

Work has also started on building 10 more three-bedroom homes which are likely to be ready by Christmas instead of next summer as originally planned.

Larkfleet chief executive officer Karl Hick said: “We are delighted that Leighfield Park has been so popular with homebuyers and it is always pleasing to see sites selling well.

“By bringing the availability of these 34 properties forward, Larkfleet is helping more local people find their ideal home at Leighfield Park.”

Talks are continuing to find a partner to run a hotel and pub at the development site north of Oakham.