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Offers Blow-In For Island Properties
13Oct2011
The Isle of Tiree, situated off the west coast of Scotland, will potentially become the site of the mega Argyll Array wind farm commissioned by Scottish Power Renewables to provide over 1800MW of energy – enough to power 1 million households.
Since the project was announced earlier this year, property experts at Bell Ingram have witnessed an unexpected and surprising surge in the number of offers on properties on the Island, with 50% more offers being placed this year than in 2010.Steven Hornby, Property Manager at Bell Ingrams Oban office has divided opinions as to why this sudden increase in offers, which total around £400,000 for this year so far has been as a result of people coming to the island looking for either a permanent or holiday home or, anticipating the benefits the proposed wind farm will bring to the area in terms of job opportunities and economic impacts”.
He added: “The island is a beautiful place to live with stunning views and an easy going quality of life. However, the island has never been one of the most sought after locations for home buyers through Bell Ingram, but within the last 12 months that has surprisingly changed for both permanent island dwellers and holiday home owners”.
“More and more homeowners are starting to consider the island as a real contender for domestic living and this is maybe thanks in part to the proposed wind farm on the island, which will bring a host of economic benefits to those living there but also the accessibility including the domestic flights, as well as the overall facilities and amenities on the island”.
“Should it go ahead, it is expected that the wind farm will bring around 300 new residents to the area in the shape of construction workers and their families, creating additional income and helping to develop the existing infrastructure on the island, potentially making it a desirable location for would be home owners.
“And it is not only the proposed wind farm that has helped boost interest from home buyers. House prices in the area have recently dropped by up to 30% as a result of market fluctuations and would be buyers could pick up a spacious three bedroom property, with lots of investment potential for as little as £150,000”.
“The Isle of Tiree is a fantastic location to live in and anyone picking up a property here is not just getting a fantastic family home, but a sound financial investment as well.”
In 2010 Bell Ingram sold just three properties on the Isle of Tiree totalling to around £300,000, whereas this year so far they have completed offers worth around £400,000 with a remaining four properties under offer, which on completion could bring the total to around £950,000.
The property experts currently have 9 Tiree properties within their portfolio, which provides another indication of the area’s potential for attracting a greater abundance of home buyers.
Buyers could pick up a sizeable two storey, three bedroom detached former farmhouse on the island, with stunning panoramic views and a rear entrance which looks out onto the beautiful Balephentrish Bay – for just £190,000.
The property also comes complete with planning permission to turn its three outhouses into a one bedroom chalet building, making it the ideal property for those looking to invest in a holiday let property.
For those looking to for a completely fresh start and build their own home, Bell Ingram also have a series of land plots in the region of £60,000 to £70,000 at Vaul, Isle of Tiree, all of which come complete planning permission for a single dwelling.
Residents on the Isle of Tiree have access to a range of amenities including a primary and secondary school, shops, a doctor’s surgery, post office, business centre and the island even has its own local news paper. The mainland can be reached via a three hour and 45 minute ferry service direct to Oban and there is also an airport with regular flights to Glasgow.