Buyers queue overnight to secure a Merchants Square apartment off plan

Want-to-be home buyers queued outside Maillard’s Estates from Friday afternoon to be first in line to secure one of the apartments in the ‘Soave’ development of Merchants Square when they went on sale on Saturday morning.

By the time the doors opened at 9am on Saturday, around 60 people were in the physically distanced queue. All 45 of the Soave apartments were sold by Saturday night with 60% of them being snapped up by first time buyers.

Brian McCarthy, Managing Director, Le Masurier, said: “We are delighted that 60% of sales have gone to first time buyers, our target market. Merchants Square is a quality development providing spacious, well specified and affordable accommodation in the heart of town. The demand demonstrates the critical island need for housing and I am so pleased that we can get young people on the first step of the property ladder in Jersey.”

Soave is the third release to have gone on sale, following successful sell outs for The Port House and The Pergola.

Leanne Kirkland, Maillard’s Estate, Director said: “The lead up to the launch day was very positive and we knew that demand was high, however on the day itself and the day before, the intensity of interest was unexpected and strongly reflects the quality of the scheme and the market conditions. We were also delighted that so many first time buyers managed to secure premium apartments in the release by being first in the queue.”

There are two more areas of the development to be released for sale in early Autumn this year; Amarone and Rioja. The apartments offer streamlined design and quality, together with spacious, open plan living to maximise space. Each apartment has a balcony or terrace, kitchens with high specification appliances and modern, stylish bathrooms.

Le Masurier hopes that this £70 million development will bring a new lease of life to the north of town with its access to convenient, contemporary living. A place to be proud to call home. Judging by these latest sales to first-time buyers, as well as investors, it looks set to do just that.