Lincoln

“A luxury living epidemic”: The rise of high-end homes in Lincoln

In recent years, Lincoln has attracted a surge of high end development projects, from the Colosseum off Newport to the more recent One the Brayford. Lincolnshire Business looked into why there has been such a “luxury living epidemic” in Lincoln.

As economy grows in Lincoln, more and more people are entering the city with an aim of finding high end, stylish properties.

The Colosseum development currently ranges between £450,000 to £940,000 per house, while One the Brayford will see apartments ranging from £130,000 to £500,000.

Plans have also been approved for Chad Varah House to be transformed into four upmarket flats and houses ranging from £350,000 to £1 million and work continues on the £40 million development to transform the former St John’s Hospital into 183 luxury homes and apartments.

With the help of the Government Help To Buy scheme, people are now able to spend more money than they could before, meaning they can splash out on high end living.

Ben Sykes, New Homes Sales at Pygott and Crone told Lincolnshire Business: “I think peoples’ tastes are improving.

“The economy is doing well, people have money to spend and people want the best, I think we’ve seen that the way the market has been.

“I think the Witham Wharf development, which was over ten years ago, was the real start of the luxury living epidemic in Lincoln.”