Date: May 2010

SALES RISE AT ‘THE BAY’ - AS COALITION INDICATES CHANGES TO CGT

• Seven properties already sold in final phase - just 13 holiday homes remaining
• ‘Sky Deck’ and ‘Sky Garden’ designs are available, prices start from £375,000 up to £385,000 (3 bed detached)
• Cutting edge eco design including a natural outdoor pool in an idyllic and peaceful Cornish setting
• One of the few holiday home developments that allows you to fully personalise your interiors - from custom layouts to kitchen units and tiling

Final phase sales at The Bay, Talland, have continued to rise over the past few weeks despite proposed changes to capital gains rates from the new coalition government on “non-business assets.”

Nick Wilson, partner at Talland Homes says: “Many purchasers at The Bay are planning to use their homes not just for themselves but will also rent them to holidaymakers for the rest of the year.  This means that they would qualify as "business assets", with Capital Gains Tax (CGT) falling to 10 per cent after two years ownership, and be free of Inheritance Tax (IHT) 2 years after gifting rather than 7 for traditional buy-to-lets.

“The Labour party had proposed removing this "business asset" relief.  However, the Conservatives support it, and with so many people in the South West (the Lib-Dem voting heartland) relying on holiday letting to augment their incomes, we are very hopeful that it will continue under the new coalition.  Regardless of politics and taxation, our purchasers recognise that a holiday home in a beautiful coastal location such as The Bay will always be a sound investment for the long term, as well as a wonderful place to bring their families.

“After researching other developments in the region, purchasers have noted our unique approach allows them to personalise their interiors and layouts as they wish, rather than an imposed ‘one size fits all’ solution.  They appreciate the option to create their own bespoke holiday home design.”

The Bay, Talland, makes a special year-round retreat with 21st century comforts - superb insulation, contemporary fixtures and fittings - all in an idyllic and peaceful setting, and just minutes from the beach.  Designed by London architects, Mador & Partners, each property is built to order on the buyer’s chosen plot and finished in cedar and local Cornish stone to blend harmoniously into the landscape.

The contemporary designs all feature open plan living and large areas of glazing to create an informal, modern feel.  High environmental standards are integral to the development, with timber frame construction and oak flooring from sustainable forests, optional wood burning stoves and roof gardens to reduce water run-off.

The properties are designed to meet the highest ‘Excellence’ standard for new sustainable homes with features including underfloor heating andnatural, eco paint finishes throughout.  The outdoor swimming pool is chemical-free, cleaned and filtered by the plants growing around its edge.

The Sky Deck has a split-level layout with open-plan living areas on the first floor to maximise views and an extensive private roof terrace and lawned area.  Sky Garden features a balcony to the main bedroom, and a galleried landing with floor to ceiling windows.  It has a stunning rooftop garden and decking for sunbathing and alfresco dining.  The Light House features light-filled rooms with a stunning ground floor design leading to private terraces.  The two main bedrooms open onto a large balcony, perfect for enjoying an outdoor breakfast or the evening sun.  Finally, the Pool Side properties are just feet from the 23 metre outdoor natural pool, with roof terrace and open plan living.  All properties come with their own parking space.

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Issued by:
Becky Charman / Sue Hitchcock
becky.charman@lawsonclarke.co.uk / sue.hitchcock@lawsonclarke.co.uk
Press Office, LawsonClarke PR
T: 01285 658844

Ref: TB02/2010