This page contains a Flash digital edition of a book.
Property Life


Why parents are moving closer to children’s schools, by Anna Tyzack


H fromHOME OME


boarding where parents are encouraged to support their children at matches and concerts and have free rein to take them home at weekends. Tis is all very well if you live near by, but those families based further away, face endless slogs up and down the motorway. According to Tom Hudson of Middleton Advisors, a good compromise can be to invest in a bolthole near the school. “If you’re not in a position to relocate full time, a weekend home near the school allows you to maximise the time you spend with your children,” he says. Over the past two years, estate agents


B


have noted rising demand for properties within striking distance of boarding prep and senior schools. Ben Winston of Strutt & Parker in Shropshire regularly sells homes in Shrewsbury to couples with children at Shrewsbury School to use as a second home, while Michael de Pelet of Knight Frank in Sherborne recently sold a village home in Sandford Orcas in Dorset to London parents with children at Bryanston. “Some parents like to be a stone’s throw from their children should they fall ill or need some home cooking,” says Rory O’Neill from Carter Jonas in Marlborough who sells second homes to parents with children at Marlborough College, St Mary’s Calne, Stonar, and Cheam. For Charles and Denise Price, from London, a second home near Marlborough made perfect sense while their twins were boarders at Marlborough College. Tey bought land in Mildenhall, less than five minutes away from the school, and built a four-bedroom retreat. “It was reassuring that we could be on hand when the twins


www.firstelevenmagazine.co.uk


oarding schools no longer expect parents to pay up and shove off. Increasingly, schools are adopting a more open-house approach to


first started, but we ended up using the house almost every weekend,” says Denise. Te house is situated nine miles from the M4. “We’ve used it as a base for attending matches and parents’ meetings,” says Denise. “Te children come home on a Sunday with friends or we’ll have a barbecue on a Saturday night.” According to Hudson, what is supposed to be a crashpad near a boarding school regularly takes on a more prominent role. “Parents find themselves dialling into a new social life which is more connected to their child’s school than their life in London,” he says. “Tey start using the property at weekends, regardless of whether their children are coming out of school.”


Tis was the case


for the Prices, who also used their second home throughout the school holidays. But for parents based overseas, who would only ever be able to use a second home infrequently, a smaller property within a managed second-home community is perhaps a wiser investment, says Simon Childs of RSJ Property Search, who sources homes in Somerset, Dorset and Devon. “Tey can then be sure their home will be looked after and can even use it for holiday lets,” he says. He recommends Saxon Maybank, a development of 11 eco lodges near Sherborne, as a good option for parents looking for homes near schools in Sherborne and Shaftesbury. Te properties, sold on a holiday occupancy only restriction are built of natural stone and are priced from £165,000. Tey’re maintained by the developer and can generate a holiday rental income of


‘These aren’t properties that you are going to keep for more


than a few years, so it’s important that they are desirable to buyers in the future’


up to £1,245 per week. Meanwhile, Te Lakes by Yoo development near Lechlade is a second-home community on a larger scale – and well situated for parents sending their children to Westonbirt or schools in Cheltenham. Lakeside eco homes with access to activities such as fishing and cycling cost from £810,000. An on-site team will arrange maintenance, and rent out your house for up to £3,000 per week when you’re not there. “Parents tend to use the homes during term time and are therefore able to rent the property during peak holiday periods, therefore offsetting the cost of ownership,” says Childs. Tere are certain factors to consider when buying a school bolthole, according to Tom Hudson. “It’s important to buy in a good location,


particularly if you want to rent it out when you’re not there. Within 20 minutes of a school, there are always good areas and bad areas and non-local buyers don’t always know which is the right side of the tracks.” So it makes sense to invest in the services of a property finder. “We can tell parents if the first house they see is a one-off opportunity or a dud,” he says. “Tese aren’t properties that you are going to keep for more than a few years so it’s important that they are desirable to buyers in the future.”


Further information RSJ Property Search www.rsjproperty.com


01308 867877 Lakes by Yoo www.thelakesbyyoo.com Middleton Advisors www.middletonadvisors. com 01235 436271 Saxon Maybank www.knightfrank.com


Autumn 2011 FirstEleven 75





PHOTO: THE LAKES BY YOO


Page 1  |  Page 2  |  Page 3  |  Page 4  |  Page 5  |  Page 6  |  Page 7  |  Page 8  |  Page 9  |  Page 10  |  Page 11  |  Page 12  |  Page 13  |  Page 14  |  Page 15  |  Page 16  |  Page 17  |  Page 18  |  Page 19  |  Page 20  |  Page 21  |  Page 22  |  Page 23  |  Page 24  |  Page 25  |  Page 26  |  Page 27  |  Page 28  |  Page 29  |  Page 30  |  Page 31  |  Page 32  |  Page 33  |  Page 34  |  Page 35  |  Page 36  |  Page 37  |  Page 38  |  Page 39  |  Page 40  |  Page 41  |  Page 42  |  Page 43  |  Page 44  |  Page 45  |  Page 46  |  Page 47  |  Page 48  |  Page 49  |  Page 50  |  Page 51  |  Page 52  |  Page 53  |  Page 54  |  Page 55  |  Page 56  |  Page 57  |  Page 58  |  Page 59  |  Page 60  |  Page 61  |  Page 62  |  Page 63  |  Page 64  |  Page 65  |  Page 66  |  Page 67  |  Page 68  |  Page 69  |  Page 70  |  Page 71  |  Page 72  |  Page 73  |  Page 74  |  Page 75  |  Page 76  |  Page 77  |  Page 78  |  Page 79  |  Page 80  |  Page 81  |  Page 82  |  Page 83  |  Page 84  |  Page 85  |  Page 86  |  Page 87  |  Page 88  |  Page 89  |  Page 90  |  Page 91  |  Page 92  |  Page 93  |  Page 94  |  Page 95  |  Page 96  |  Page 97  |  Page 98  |  Page 99  |  Page 100  |  Page 101  |  Page 102  |  Page 103  |  Page 104  |  Page 105  |  Page 106  |  Page 107  |  Page 108  |  Page 109  |  Page 110  |  Page 111  |  Page 112  |  Page 113  |  Page 114  |  Page 115  |  Page 116