£40m of flats are bought in months

From the archive, first published Friday 10th Feb 2006.

Investors and house-hunters have snapped up homes at a Shipley development worth £40 million, months after the properties were released.

Only some penthouses remain unsold from the 60 per cent of properties so far released for sale at the Victoria Mills development in Shipley.

And developers Newmason Property have pledged to fast-forward the release date of 36 off-plan properties to meet demand.

The final Northern Lights phase, scheduled to begin in 2007, will complete the 400-property development.

There are six main elements to the Victoria Mills village community, three renovated Grade II Listed buildings which formed an 18th century worsted mill and three futuristic glazed buildings designed by Yorkshire architect Tony Lupton of Beckwith Design Associates.

Andrew Mason, managing director of developers Newmason Properties, said he believed it was the combination of traditional materials and modern-day living which had attracted so many investors.

A significant number of the futuristic VM1 properties have been sold, despite the two-year build only recently beginning.

And, as reported in the Telegraph & Argus, the entire futuristic off-plan VM2 building has been bought by Manoj Raithatha of Summertime Properties, as part of an investment campaign in the North of England.

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