First residents move in to Hemel Hempstead development

Bellway has welcomed the first residents to The Foundry – a new development transforming a former college site in Hemel Hempstead.

The Foundry is a development of 110 one and two-bedroom apartments within a seven-storey building next to the River Gade.

Residents will have access to on-site facilities including a residents’ Workhub, which is designed to aid home working, an al fresco dining area and outdoor table tennis tables. An on-site estates manager will also be on hand to monitor the day-to-day running of the development.

Zoe Dobbs, sales manager of Bellway North London, said: “Work is progressing well at The Foundry and it is good to see the first residents moving into their new homes at this much-sought after location.

“This represents a key project for Bellway North London as we transform land formerly owned and occupied by West Herts College. Now that buyers are starting to take up residency, we hope to see a thriving new community grow at the development.

“As we expected, there continues to be strong demand for apartments at The Foundry, with over 70 per cent of the first phase of releases already sold.

"So far, seven out of ten of our customers who have bought apartments are first-time buyers taking advantage of the Help to Buy scheme.

"All of the homes at The Foundry will be below the regional price cap for the Help to Buy initiative.”

The Help to Buy scheme is available with new-build homes up to the value of £407,400 in the East of England, which covers Hertfordshire, and means buyers can purchase with a five per cent deposit and a 75 per cent mortgage. The remaining 20 per cent is provided in the form of a Government-backed equity loan, which is interest free for the first five years.

Bellway also has a select number of apartments at The Foundry which are now completed and ready to move into, which can enable and even faster move into a new property at the Hemel Hempstead development.

Zoe added: “Interest remains high at The Foundry, but there is still plenty of opportunity for buyers to get in touch with us to see how they can invest in their own property and enjoy the apartment lifestyle here and all that it has to offer.

"We have some finished apartments at the development which are ready to be moved into and lived in now, for buyers who want to make a particularly quick move into a new property and make homeownership a reality.”

There is currently a range of one and two-bedroom apartments available at The Foundry, for more information, call the sales team on 01442 331397.