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14 Dec 2015

Regeneration hotspots near you

Author: Antony Gibson

Romans’ experts have uncovered four local regeneration hotspots, a must-read for buyers looking for good capital growth on the next property they buy.

  • Basingstoke

Basingstoke regeneration

Basing View is currently undergoing a £200million town centre regeneration to create a 21st century business destination. These plans feature a 46,000 sq ft John Lewis and 26,000 sq ft Waitrose, which opened in late 2015.

Waitrose stores are not solely a reason for people to move somewhere but the store has been said to enhance an area’s reputation and add an extra pull factor. David Thompson, Lettings Manager at Romans Basingstoke, comments on the effect the opening of John Lewis and Waitrose could have on property prices:

“From the research I have done it’s unclear whether the opening of a John Lewis/Waitrose triggers a rise in house prices, or new stores only open in already highly-affluent areas, but the direct correlation between the two cannot be ignored.

“Waitrose, an upmarket grocer, invests time and money opening in locations that match their profile. The market research is trusted and can highlight an area as up and coming; something Romans keeps an eye on, specifically for active landlords who are looking for new areas and opportunities to invest in.

“According to research by Lloyds Bank, properties near a Waitrose supermarket enjoy a 12% price premium compared to other similar houses nearby. House prices in Basingstoke have already increased by 6%* in the last year, with an overall average price of approximately £255,000, a trend I strongly feel will continue down to the continued demand from buyers in the area, as well as the current town regeneration.

“Our landlords are currently enjoying an average rental yield of 4.3%, which is the equivalent of £911pcm and 2.5% more than 12 months ago**. Lack of stock is encouraging more buyers to turn to renting, and with close to 200 tenants registering their interest with us every month I predict rental yields will continue to increase over the next 12 months, highlighting Basingstoke as an investment hotspot.”

A Waitrose has also recently opened in Guildford, and one is due to open in High Wycombe in the spring. Keep an eye on Waitrose’s press releases to find out where else they plan on opening.

If you are looking to buy or let property in Basingstoke, please get in touch with Romans’ experienced agents on 01256 317 080 or basingstokeresidential@romans.co.uk

  • Bracknell

Bracknell regeneration

Bracknell’s town centre regeneration, called The Lexicon Bracknell, started in March 2015 and is expected to cost £240million. The numerous shops, restaurants and 12-screen cinema are forecast to open in spring 2017.

“We’re anticipating a lot of interest in Bracknell over the coming months, from first-time buyers, families upsizing, and investors” comments Jonathan Hawthorne, Sales Manager at Romans Bracknell.

“Over the last 12 months house prices have already increased by 12%*, and we’re predicting a further rise of 10% during 2016 as the regeneration continues and buyers recognise how affordable Bracknell property is compared to many surrounding towns.”

Several global businesses already have offices in Bracknell and more are moving here, expanding the area’s business links. Crypstosoft, a growing software security firm, recently announced its plans to move to Bracknell, and a few months ago Chinese business UKEC International Ltd moved into its new offices in the town.

“As more businesses open offices in Bracknell more people are also moving to the area, this increases the competition between buyers, and with the limited housing supply currently available it’s likely house prices will continue to rise, providing strong capital growth for owners” adds Jonathan.

If you are looking to buy or let property in Bracknell, please get in touch with Romans’ experienced agents on 01344 404 700 or bracknellresidential@romans.co.uk

  • Reading

Reading regeneration

There is a lot happening in Reading currently, including town centre regeneration, a new train line at Green Park, more businesses moving to the area, and of course the imminent arrival of Crossrail. This is creating a lot of interest from buyers, especially investors, who are keen to grow their property portfolios before the prices rise even further.

In January 2015, Romans’ experts advised landlords to start looking at their options, specifically around the planned location for Green Park train station, and interestingly, since then house prices in Reading have grown by 12%*.

“We’re anticipating a further increase of 10% during 2016” comments Richard Chambers, Lettings Manager at Romans Reading, “and it’s likely that properties within walking distance of the Crossrail station will increase even more, as it will be bringing people within 45 minutes of central London; ideal for commuters.”

In fact, exclusive new research by location intelligence consultancy Groundsure has revealed that house prices have soared by up to 73% along the Crossrail route between 2013 and 2015, with the rate of house price growth in areas within walking distance of the new stations outstripping the London average by as much as 56 percentage points.

Learn more about Crossrail and its effect on house prices

Crossrail is also sure to have a positive effect on house prices in Burnham, Maidenhead and West Drayton, so if Reading isn’t for you there are still plenty of options.

If you are looking to buy or let property in Reading, please get in touch with Romans’ experienced agents on 0118 953 8700 or readingsales@romans.co.uk

  • Staines-upon-Thames

Staines regeneration

Staines was recently labelled the number one town to start a new business, in a report from accountants UHY Hacker Young. Its proximity to London, low rents, and growing community of start-ups has established the town as a hotspot for new businesses.

“It’s not just businesses moving here, it’s also buyers and tenants” comments Chris Cannon, Sales Manager at Romans Staines-upon-Thames. “With comparably cheap property prices, considering Staines proximity to London, more people are moving here creating additional competition and encouraging property prices to rise.”

Property prices in Staines have risen by 11% in the last 12 months and Romans’ experts are predicting similar increases during 2016.

If you are looking to buy or let property in Staines, please get in touch with Romans’ experienced agents on 01784 464 346 or stainesresidential@romans.co.uk

Regeneration, such as improved transport links, better facilities and new business districts, highlight an area as being promising for strong capital growth. Whether you’re a landlord looking to grow your portfolio or you’re buying your next home and hoping to build up some equity, Romans’ team are experienced in identifying up and coming areas. Contact your local branch to find out more about regeneration in a town near you.

*rightmove.co.uk, correct as of November 2015

**Correct as of October 2015

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