News Archive


National housebuilder St. Modwen Homes has seen a raft of sales at its Edison Place development in Rugby, having already sold all of the homes initially released for sale.

Launched at the end of March, 21 homes have already been purchased from plan at the development, including all six of the apartments (which sold-out within the first month). Impressive statistics from the award-winning housebuilder also show that more than 60 per cent of those homes sold at Edison Place have been purchased under the Government’s equity loan scheme, Help to Buy. 

Help to Buy aims to give people on all stages of the property ladder the opportunity to purchase a new home with a deposit of just five per cent. Under the scheme, the Government will lend up to 20 per cent of the value of the property through an equity loan. The purchaser will have to pay just 80 per cent of the cost of the property – made up of a 75 per cent mortgage and five per cent deposit – but will own 100 per cent of their home.

Neil Simpson, sales and marketing director at St. Modwen Homes, said: “We are overwhelmed by the positive reaction to the development which has seen constant interest since its launch earlier this year, and feel it is a real reflection on the high quality and individuality of the new properties that St. Modwen Homes strives to deliver across all its developments.

“Purchasing from plan gives househunters a great opportunity to tailor their new home to suit their individual tastes, with a range of contemporary fitted kitchens, plus a variety of tiles and flooring to choose from. With the new showhome due to be launched within a matter of weeks – which promises to be absolutely spectacular – househunters are advised to reserve early and take advantage of the pre-showhome prices.”

The new homes at Edison Place range in price, starting from £159,995 (£127,996 under Help to Buy) for a two storey, three bedroom property with two parking spaces, up to £244,995 (£195,996 under Help to Buy) for a three storey, three bedroom semi-detached house. Construction is now well underway at the development, with the first homes expected to be delivered in August 2013.

Neil added: “When the Government announced its new Help to Buy scheme we welcomed it with open arms, recognising its ability to help people struggling to get onto the property ladder. The scheme has been a huge success at Edison Place, allowing many people –including a number of young professionals and first time buyers – to buy their dream home with a deposit of as little as £7,999.”

Typical of St. Modwen Homes’ developments, the new properties all boast individual designs and are fitted with high quality fixtures and fittings throughout, including stylish designer kitchens and contemporary bathrooms. Meeting the needs of a modern family, most of the homes boast large open-plan living and dining areas, with useful storage areas already pre-considered and built into the design of the homes. 

All the houses at Edison Place are light and airy, benefitting from higher than average ceilings and large windows which conserve heat whilst keeping the house cool, helping save the homeowner money on utility bills. Most of the properties also come complete with integrated garages or car ports, along with a personal driveway and landscaped front gardens.

Ideally situated off Leicester Road, Edison Place is 1.4km north east of the centre of Rugby and is located just 500m from Rugby railway station, with regular connections to London Euston and Birmingham Stations in 45 minutes. Additionally, the £33 million Warwickshire College, which was relocated by St. Modwen Homes’ parent company, St. Modwen, is positioned south of the development, providing high standards of education for students aged 16-19.

Committed to building high quality homes in an attractive setting, St. Modwen Homes will also be delivering nearly three acres of public open space in addition to the new homes, including local play areas, extensive landscaping and enhancing the existing wildlife area, along with pedestrian and cycle links throughout the development.

For more information about the new homes at Edison Place visit the marketing suite, located off Technology Drive in Rugby, CV21 1RW, which is open Thursday to Monday, inclusive of the weekends, between 10am and 6pm. Alternatively, people can call 0844 243 4646.