Two for the price of one

Jun 20 2006

By Marsya Lennox, Birmingham Post

"The property market in the region remains a seller's market, albeit turnover is not quite as swift as we would have expected for the start of summer," said Sam Butler, senior partner with Cotswolds specialist, Butler Sherborn. "The wet May did not help, delaying the main seasonal surge of pre-summer activity, but buyers with money and those in cash positions, i.e. those who have sold their own houses, are prepared to buy because they recognise that, generally speaking, good Cotswold property is an excellent investment. "In addition, the cost of borrowing remains relatively cheap, which further fuels the market." Further supplies of Cots-wold property are needed, however, to encourage out-of-area buyers in, tempted by the promise of real choice. "Buyers quite naturally like to be able to compare properties and ideally need to see three of four houses in a day or over a weekend," said Mr Butler. "It is our experience that some properties in the Cotswolds are snapped up very quickly and this, while a good thing, can also be off-putting for those planning to take a day off work, spend a weekend, or get out of London to view property for sale. "If these buyers get a sense that there is not enough property coming onto the market within their chosen price bracket, they tend not to come, fearing others will beat them to it. "This is why it is important to stimulate the market with more supply: viewings will increase and everybody benefits, with more choice and good prices maintained." It is an interesting lesson in human nature. Though limited stocks might sound like good news for sellers, it seems that buyers are not keen on a race, happy to take their time in a more stable marketplace. One price bracket where one rarely expects to be spoilt for choice is the upper band, £3 million plus. A new star instruction for the Butler Sherborn agency is Steepways, at Nether Lypiatt, in Gloucestershire, an unusual "two-in-one" rural package, guide price £3.25 million for the whole. There is a listed 17th century house, a further, five-bedroom property, Toadsmoor Hill House, in the grounds, and 54 acres including walled gardens and tennis court. Adjoining the main house is a garden room and the indoor pool room, among the nicest currently available at this top end of the market. Mr Butler said: "Steepways is a superb property that is ideal for a large family and those who love to entertain. "The main house, with eight bedrooms, is beautifully presented and facilities, such as the indoor swimming pool, snooker room, tennis court and plenty of land for equestrian enthusiasts ensure there is something for everyone to enjoy." The whole, extra house, which is currently let, would make a perfect guest house, or space for an extended family, even staff accommodation and as a separate dwelling, it could simply be let or sold. "The options are all available," said Mr Butler. The property has a lovely outlook over wooded valley and its own land surrounding the house, all organic and with good grazing for horses, sheep or cattle. An important selling point is also the lovely approach to the house, a mature hardwood avenue. Even the gardens come up to the highest standard, "superbly maintained" with an arboretum of specimen trees as well as productive kitchen garden. Steepways, the principal house, is of local Cotswold stone and thought to date from 1650, still with a long list of quality, period features. Among these are the leaded light, stone mullioned windows with deep seats, excellent fireplaces in stone, oak panelling and flooring of solid elm. The drawing room is in the oldest part of the property, still redolent with 17th century character. There is also a dining room with large fireplace in carved stone and views over the parterre garden. The entrance hall has a flagged floor and oak staircase leading down to a library or music room with deep fireplace and fireback dated 1715. There is an office of study with garden views and computer links plus the CCTV controls. The kitchen has a cream Aga, integrated appliances and walk-in larder, details also including a tiled floor by Fired Earth. A side hall leads to a cloakroom and the door to the garage. Domestic areas include a utility and log store. A bright garden room also overlooks the formal parterre garden, sensibly opening into the pool room with its showpiece barrel vaulted ceiling and stone clad columns in classic and understated style. Upstairs, the house has six first floor bedrooms, four of them with period fireplaces, and they are served by two bathrooms. There are another two bedrooms on the second floor alongside a bathroom and open, mezzanine sitting area. On the first floor of the triple bay garage building is a large games room. Toadsmoor House is also of stone with all modern comforts including a newly-fitted kitchen with large Aga. This sizeable secondary house has two reception rooms, utility, cloakroom and five bedrooms plus two bath-rooms spread over the two upper floors. Both Cheltenham and Cirencester are within 16 miles of Steepways, Stroud station is only two miles away and trains from Kemble ten miles. In a different price band, available through the same agency, is 39 Hatherop, an attractive semi-detached cottage in a popular village close to Coln St Aldwyns, 12 miles from Cirencester. A guide price of £450,000 is being quoted for the four bedroom property which dates from 1877 and stands in the conservation area. There are outstanding views over parkland towards Hatherop Castle, now a private school, also the church. Special features include the stone construction, gables, mullioned windows and a walled courtyard in addition to lawned front gardens. There are two reception rooms, a kitchen with beamed ceiling and Rayburn cooker plus four bedrooms, one on the ground floor with a shower room. Details from Butler Sherborn in Cirencester, 01285 883740.