The first residents have begun moving into a new apartment development in Newquay, by Treveth, specifically targeted at helping meet soaring demand locally for homes to rent.
With priority given to local people and three-year tenancies offered as standard, the 28-apartment Tregover scheme is designed to counter what can be a rollercoaster seasonal lettings market in the area and help people and families put down roots in their community.
The development, in Henver Road, was fully let within days of its launch, having attracted huge interest, with more than 200 enquiries received by Treveth for the 28 one and two-bedroom apartments.
Cornish for ‘Homestead’, Treveth is a partnership set up by Cornwall Council to deliver new homes and commercial development to benefit people who live and work in Cornwall. Its mission includes improving the quality of new homes in Cornwall, especially in the volatile private rented sector, and making them available to local people.
Over the next three years Treveth will build around 600 new homes in Cornwall across a variety of tenures including affordable, private rent and market sale.
MD, Tim Mulholland, said with the Tregover scheme, Treveth saw an opportunity to acquire a newly-built block of apartments, which would otherwise would likely have gone for private sale, and use this to provide much-needed private rented accommodation for people locally.
He said: “Treveth is bringing a completely different approach to developing homes and workspace in Cornwall and while our main focus is on new-build, Tregover is a good example of how we are able to take an innovative approach to enter the market in areas where we see specific issues and demand.
“As with all our developments, we are prioritising local people first and anyone looking to rent at Tregover had to first demonstrate a local connection through residency, employment or close family.
“To be more than seven times oversubscribed shows the extent of demand locally. Residents who will be moving in shortly have commented on how impressed they are with the size and finishes of the apartments and several have shared with us how relieved they are to have the security of a three-year lease, rather the worry of possibly having to move home again in just six months.”
In February work got under way at Treveth’s first new build scheme – a 46-home development at the Maudlin Farm site, in Liskeard. It signalled the start of a pipeline of five projects to be rolled out over the next three years which will see more that 600 new homes built, including sites at Bodmin, Newquay, Launceston and Tolgus near Redruth.
The tenure split varies across different sites but as a whole just over half will be for private rent with three-year tenancies as standard, around one third of homes will be affordable (a combination of affordable rent and shared ownership) and the remainder will be for sale on the open market.
Treveth also wants to increase the quality of new homes in Cornwall and is working towards its ambition of providing homes that achieve net zero carbon emissions. It has developed a suite of modern but distinctively Cornish homes suited to the local climate. All its new homes across all tenures exceed current minimum space standards and are designed to reduce running costs for occupants through the use of low carbon technologies including solar panels and renewable energy heating systems.