We all know that demand for homes is far greater than the supply of property. This isn’t something most people in and around Bury St Edmunds need us to tell them, but as your local estate agents, we aim to keep you fully informed as to what is happening in the local area.
At Coakley & Theaker, we help homeowners looking to sell their home, and the lack of supply in the market brings problems and opportunities. If you are keen to sell, knowing there are few other homes on the market means you have more eyes on you, and you have a greater chance of connecting with willing buyers.
However, if there are so few homes for sale in an area, many buyers will stop looking, and the demand for homes in an area can fall off. This isn’t great for anyone, which is why we are always interested to hear of plans that might bring new homes to the local area.
In recent times, the property market in and around Bury St Edmunds has been showing signs of evolution, adapting to the changing needs and demands of the community. A prime example of this transformation is the recent development concerning The Greyhound, a long-closed pub located on Eastgate Street. Betts Property Investment Ltd is in the process of seeking approval from West Suffolk Council to repurpose this iconic establishment into two three-bedroom homes.
The proposed modifications encompass the removal of certain structures at the rear of the building, although the historical facade that many have come to associate with Eastgate Street will remain largely intact. It's a blend of preserving the architectural heritage while aligning with modern living standards. The interior of the building will see a revamp, with the creation of new partitions and a separating wall to change the layout, making it suitable for residential living. To enhance accessibility, a glazed extension is proposed for the back of the building. Additionally, the plan includes provision for car parking spaces and bicycle storage, addressing modern-day lifestyle needs.
This move follows a trend where property investors and developers see potential in rejuvenating and repurposing existing structures, infusing a new lease of life into them while contributing to the local housing stock. It's a pragmatic approach, considering the growing demand for housing in Bury St Edmunds and its environs.
Now, what does this mean for homeowners looking to sell? This shift in the market dynamics highlights a growing appreciation for well-located, versatile properties. As your local estate agents, Coakley & Theaker are well-versed with the Bury St Edmunds property market. We are here to guide you in showcasing the unique selling propositions of your home, navigating the market’s current trends, and connecting you with serious buyers.
The unfolding story of The Greyhound is a testament to the exciting opportunities within our local property market. If you’re considering selling your home, now is an opportune time to delve into the market, and Coakley & Theaker is here to ensure you achieve the best possible outcome. Reach out to us for a thorough market appraisal and let’s embark on a successful home selling journey together.
At Coakley & Theaker, we aim to support the local community as much as we can, and we know this is an extremely trying time. A lot of people are looking for support and guidance, and if you have any property or housing related questions, we are more than happy to assist you, so contact us today by calling us on 01284 769691.