Barker Building Revisited
08 December 2020
Homegrown Property Developments
We thought it’s high time for a dose of good news after all of the negative impact created by the corona virus and the wide-ranging effects this has had on the market as well as the wider real estate community.
In October 2018 we structured a joint venture deal that saw the development of a former Barker Shoe factory in Northampton into 54 residential units. We caught up with the developer, Homegrown, to see how the project was progressing.
Homegrown Property Development led by Georgia Gale and her team have continued to work hard throughout this extremely disruptive ‘stop-start’ year to bring The Barker Buildings development to the market in one of the most economically difficult periods in recent memory.
Homegrown acquired the site under a joint venture arrangement with Peritus and applied for planning for 54 units in this former shoe factory in the heart of Northampton. A further planning application was submitted and subsequently granted raising the number of units to 68 apartments.
It was the flexibility and supportive collaboration of the partnership that has allowed this project to evolve and we believe this has contributed to its success; now providing a combination of both modern and industrial inspired living, fully utilising the land, providing an increased number of sustainable homes as well as increasing the GDV by c. £2m.
The transformation is incredible. We visited the site when the purchase had been completed and walked around a building that had been deserted for 8 years. It is fundamentally unrecognisable now. The roof has been raised to create spectacular ceiling heights, and replaced with fresh slates. The floor-to-ceiling windows are the main feature, flooding the apartments with natural light. Homegrown’s focus has been on regeneration, retaining as many original characteristics as possible and using materials authentic to the building’s original design to bring this factory back into use; “preserving the best of the past, for the future”.
Off-plan sales will begin in January 2021 when a fully-furnished marketing suite will welcome prospective purchasers, with homes ready for occupation by September.
Georgia Gale, Homegrowns CEO hails from a seasoned property development family and has been around real estate all of her life. Georgia steered the scheme from its initial acquisition, managing the planning process, working closely with the contractor and is now focussing on unit design and sales. Georgia maintains that it has been prioritising the team she’s built around herself that has led to the brilliant design and specification at The Barker Building, and that it will be these relationships that will see the scheme finished successfully. Homegrown already has a second project in the pipeline!
Apartments are now being marketed to both homeowners and investors alike, with unit prices starting from £130,000 and excellent rental returns. You can register your interest on Homegrown’s website at www.homegrown-property.com/the-barker-buildings or directly with the Sales Agent, Edward Knight at barkerbuildings@edwardknight.co.uk.
Well done to all involved in this very exciting project. I’m sure that you will continue in the same vain with future developments. We are looking forward to seeing what is next in the Homegrown story.
