Developer achieves 83% sales success for The Quarter

Feb 5 2008 by Tony McDonough, Liverpool Daily Post

VERMONT Developments has sold 83% of the 187 apartments in the first phase of its £100m The Quarter development in Liverpool.

The properties, at the junction of Sefton Street and Parliament Street, have all been sold off plan. Vermont believes this bodes well for the second phase of 112 apartments, located in the scheme’s 22-storey glazed tower, which have recently been released for sale.

Chief executive Mark Connor said: “While it is true that we are all having to work harder to achieve sales, these figures prove that the right product, in the right location and priced at sensible values will always sell.

“In addition to the recent correction in values, our view is that the property market has fundamentally changed.

“Double-digit house price growth over recent years means the cost of buying has become prohibitive. As a direct result we have a strong rental market – and while that demand is maintained we will have investors looking to take advantage.”