Worried that property prices may fall still further? Housebuilder Fusion Residential isn’t. Indeed, Fusion is so sure that prices will stay up, it is guaranteeing re-sale prices at Chenies Place, in Arkley, Herts.
Called Cenoption, the deal is based on a “put option”, as in the financial futures market. The concept is provided by finance company Centrila.
At any point between three to 10 years after purchasing a home at Chenies Place, the new owner has the ability to exercise the Cenoption and sell the property at its initial valuation, regardless of whether property prices have fallen. If the property increases in value, there is no obligation to sell the property to Cenoption, so purchasers can benefit from the growth in value.
Gavyn Fresco, head of sales and marketing at Fusion Residential comments: “We are proud to provide homeowners with such peace of mind by putting in place the Cenoption free of charge.
“At a time when homebuyers are far more discerning, the Cenoption gives them the ability to commit to a property without worrying about the uncertainty of the property market.”
Chenies Place is a private gated development of six homes, each with more than 3,400 sq ft of flexible living space. On three floors, all homes incorporate air conditioning, a sizeable living area, walnut glass staircase, sauna, gym, study and separate garage with storage and racking. The Poggenpohl kitchens are designed to a high specification, with granite work surfaces and Miele appliances (including coffee maker and wine cooler) and there is a separate utility room. Other features include mood lighting, multi-room music control systems, iPod docking stations and, for the master bedroom suites, an 17in Aquavision waterproof flat-screen TV. CCTV provides surveillance images on any of the home’s televisions, with the ability to check on the home from anywhere in the world.
The landscaped patio areas are in Indian sandstone, with feature lighting and automatic watering systems.
Prices at Chenies Place range from £1.65 million to £2.5 million.