Response to first-time buyers' dilemma wins top national award for innovation

Fri, Oct 7th 2005, 11:00

REDROW’S ground breaking Debut range, introduced to help cash-strapped first time buyers onto the property ladder, has won a top national award.

The company’s first Debut venture, at Willans Green, Rugby, earned five stars and top honours in the ‘Best Innovation’ category at the inaugural UK Property Awards, presented at a House of Commons gala dinner.

Redrow’s Debut range features one and two-bedroom homes, with starting prices at Rugby from just £54,995. The properties are built from lightweight steel frame and using modern methods of construction, with communal heating and hot water systems and a host of other cost-saving measures.

Carefully planned and managed shared outdoor space also facilitates savings whilst, at the same time, helping to create a sense of place and neighbourly spirit through communal squares and focal meeting points.

Investors are precluded from buying a Debut home and almost 90% of the Rugby properties were sold in one day to genuine first time buyers.

Redrow has since introduced its Debut product range to similar acclaim in Chorley, Lancashire, and has been granted planning permission for a new scheme in Birmingham that will launch in December. Across the UK, Redrow intends to have built 2,000 Debut homes within the next five years.

Expanding on the phenomenal success of the Bentley International Property Awards, now in their 11th year, the new awards scheme – sponsored by the Daily Mail – has been put in place solely for the UK property market. The awards distinguish the highest levels of excellence in a range of property related fields, including property design and estate agency. The ‘Best Innovation’ category rated developments based on design features, the technology built into the home and energy conservation measures.

Commenting on Debut’s achievement, Helen Shield, vice-chairman of the Daily Mail UK Property Awards, said: "Redrow’s Debut scheme was chosen for its excellent use of space and design to provide affordable accommodation."

Success in the Daily Mail UK Property Awards comes hot on the heels of Debut at Willans Green achieving an Eco-Excellent rating from the British Research Establishment (BRE) – one of only 20 or so schemes across the UK to achieve the top rating to date.

This independent, transparent labelling scheme for housing assesses the environmental quality of a development by considering the broad concerns of climate change, use of resources, pollution and impacts on bio-diversity. An Eco- Excellent rating requires an overall score of 70% and demonstrates exemplary environmental performance across the full range of issues.

David Campbell-Kelly, managing director of Redrow Homes (Midlands), said: “Both the UK Property Award for Best Innovation and the Eco-Excellent rating demonstrate that Debut is truly a leader in its field. We have set the standard that others must follow to bring home ownership within reach of the very many first time buyers who are currently priced out of the UK housing market.”

As well as featuring innovative building methods, everything about Debut is geared to making home ownership accessible, affordable and easy to manage.

Purchasers have the option of allowing Redrow to retain 10% shared equity in the property as an interest-free fixed sum for up to 10 years. The customer has total flexibility how they pay this back – via occasional lump sums, monthly repayments or in whole at any time. In addition, a single monthly service charge covers all external maintenance, as well as water, gas and electricity use and buildings insurance.

For further details of Debut developments in the UK visit the Debut website.