Affordability, improved transport links and a £1 billion regeneration project over the next 15 years are set to combine to make Slough in the South East of England a new property investment hotspot.
For example, property price growth could reach 35% by 2020, according to research by real estate property services firm JLL, partly due to the Crossrail project which will reduce the commute from Slough to the centre of London and beyond when it opens in 2019.
With a reduced commuting time, property experts believe that young professionals working in London could be tempted to see Slough as a more affordably options, particularly if they are first time buyers.
Already property in Slough within a mile of a proposed station has risen in price by 88% since 2009, according to figures published by the Land Registry. Its data also shows that currently average property prices in Slough are around £342,000, nearly £245,000 less than the average London property price.
With the introduction of Crossrail and WRAtH, commuters will be able to benefit from these lower prices and still only have a 30 minute journey to central London and a 45 minute journey into the Canary wharf area. Travel times between Slough and Heathrow will also be cut to just six minutes.
Commercially, this will boost a town that is already a business hotspot. According to GVA’s Crossrail property impact regeneration study “The core influence of Crossrail in value terms appears to be that it reinforces the strongest markets..” It goes onto say: “Locations such as Ealing Broadway, Slough, Maidenhead and Reading achieve parity and exceed the wider average, suggesting Crossrail will reinforce their role as key office centres.”
Slough Trading Estate, the largest under single ownership in Europe, houses more than 4,600 businesses including 02, Amazon and Mars, contributing to a Slough economy worth over £9 billion.
Swindon is rated second for connectivity and eighth for business friendliness in Europe and has attracted the largest concentration of global businesses in the UK outside of London, using this momentum to drive investment.
The Slough Urban Renewal (SUR) project is rejuvenating the cultural and economic aspects of the town, regenerating infrastructural links and contributing to the development of The Centre, an £18 million leisure facility and The Curve, a library and cultural centre.
Slough represents the opportunity for savvy investment in an area that is seeing excellent predicted growth across all sectors, growth that will be furthered by the game-changing developments that are on the horizon.
Andy Foote, director at property developer SevenCapital, which is currently has residential investment opportunities in Slough, said: ‘Slough has opportunitites for savvy investment in an area that is seeing excellent predicted growth across all sectors, growth that will be furthered by the game changing developments that are on the horizon’.
SevenCapital currently has investment opportunities available at New Eton House, a development in the heart of Slough. Within walking distance of Slough Trading Estate, New Eton House is designed for the professional tenant.