First look inside the new apartments at the £70 million Indigo apartments in Northminster, Peterborough
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00:00In the first phase, which is the block that we're standing in now, there's 131 units so they will be available for people to move into from the 7th of October this year.
00:10And then the second stage, which is the block across from where we are now, that will be somewhere between the end of January and the end of February.
00:19We are anticipating a good take-up and all the early indicators are that it's really popular with people.
00:25We've got over 30 reservations on the site now and that's just in the last couple of weeks.
00:32There are certain criteria that they have to meet.
00:35So because of the scheme, the combined household income can't exceed £80,000 per annum.
00:43So obviously for some people that rules them out.
00:47And they also have to have a link to Peterborough as well.
00:50So either working here, or they've lived here, or they have family here, but there has to be that link to Peterborough.
00:56So it has meant that some people have not been eligible for the scheme, but not that many to be fair.
01:02If you look at the rents in Peterborough, they have gone up a lot over the last five years.
01:07And it is being offered out at 20% below normal market values.
01:12I mean a typical two-bed in the town centre, you'd be looking between £1,000 and £1,200.
01:17And here it's £942, so the price is a big factor.
01:21And also the location. I mean as we're standing here today, it is in the city centre.
01:25But to be fair, you wouldn't necessarily feel it was because it's quite quiet, isn't it?
01:30And I think you've got access to the bus station, access to the train station.
01:34So for anyone wanting to commute, it's a perfect location.
01:382% less than market value, because they are affordable housing.
01:43So they start from the one-beds, which are £752 per calendar month.
01:48And then they work up to the two-beds.
01:50So the cheapest two-bed is £940 per calendar month.
01:53And then both the ones and the twos, there is a variance in pricing according to floor, view.
02:00Some have a nice cathedral balcony access, so they'll obviously be a little bit more expensive.
02:06But starting prices are £752 for a one-bed and £945 for a two-bed.