Devilfish
7th April, 2009, 10:46 AM
BUDGET supermarket Lidl are introducing a new cheap and cheerful product - houses.
The German food chain will join forces with Taylor Wimpey to create 48 "no-frills" homes for ?64,000 each.
The partnership will even pay for the deposits and legal fees of potential buyers as an added incentive.
The impressive price of the new-build flats will make them the cheapest of their kind in Scotland.
Lidl and Taylor Wimpey say the flats, planned for East Lothian will save buyers as much as ?50,000 off the price of an average two-bedroom flat in the area.
The hope is that more Scots will be able to get on the property ladder with the flats, aimed at first-time buyers .
The scheme will roll out under Taylor Wimpey's "no-frills" housing brand, G2.
Lidl will sell privately owned land in Prestonpans, East Lothian, to Tay- lor Wimpey, as soon as planning consent is granted.
Both companies have submitted a joint planning application.
Once all the legalities are in place, the housing developers are planning to build 48 homes, ranging from ?64,000 for a one-bedroom flat to ?70,000 for two bedrooms.
They will use similar materials for all their developments to get bulk-buy discounts.
For a one-bedroom flat, buyers can expect 350sq ft of living space, including a modern "studio-style" open-plan living room and kitchen.
The two-bedroom flats are similar in layout, but with 400sq ft living space.
A spokeswoman for Taylor Wimpey said: "G2 is Taylor Wimpey's brand of affordable, low-cost homes, designed specifically for first-time buyers."
David Marshall, business analyst at the Edinburgh Solicitors Property Centre, said: "Since the credit crunch started, the number of new-builds has fallen by around 80 per cent.
"This is at a time when the number of households is increasing, so developments like this are very welcome."
Lidl were founded in Germany in the 1930s and now operate in 17 different European countries
The German food chain will join forces with Taylor Wimpey to create 48 "no-frills" homes for ?64,000 each.
The partnership will even pay for the deposits and legal fees of potential buyers as an added incentive.
The impressive price of the new-build flats will make them the cheapest of their kind in Scotland.
Lidl and Taylor Wimpey say the flats, planned for East Lothian will save buyers as much as ?50,000 off the price of an average two-bedroom flat in the area.
The hope is that more Scots will be able to get on the property ladder with the flats, aimed at first-time buyers .
The scheme will roll out under Taylor Wimpey's "no-frills" housing brand, G2.
Lidl will sell privately owned land in Prestonpans, East Lothian, to Tay- lor Wimpey, as soon as planning consent is granted.
Both companies have submitted a joint planning application.
Once all the legalities are in place, the housing developers are planning to build 48 homes, ranging from ?64,000 for a one-bedroom flat to ?70,000 for two bedrooms.
They will use similar materials for all their developments to get bulk-buy discounts.
For a one-bedroom flat, buyers can expect 350sq ft of living space, including a modern "studio-style" open-plan living room and kitchen.
The two-bedroom flats are similar in layout, but with 400sq ft living space.
A spokeswoman for Taylor Wimpey said: "G2 is Taylor Wimpey's brand of affordable, low-cost homes, designed specifically for first-time buyers."
David Marshall, business analyst at the Edinburgh Solicitors Property Centre, said: "Since the credit crunch started, the number of new-builds has fallen by around 80 per cent.
"This is at a time when the number of households is increasing, so developments like this are very welcome."
Lidl were founded in Germany in the 1930s and now operate in 17 different European countries