Ricky Bhurji of Romans on the boost Maidenhead will get from Crossrail
PUBLISHED: 11:07 04 July 2014 | UPDATED: 15:56 23 March 2015
Maidenhead was hot on the agenda for many of the investors attending Romans’ third Investors’ Open Evening of 2014.
By 2017 Crossrail will put the town firmly on the commuter map, creating £5.5 billion in added value to residential and commercial properties along its route, according to GVA, commercial property management experts.
Town regeneration can have a big impact on property prices, so local landlords were keen to find out what Romans’ investment experts are predicting in terms of capital growth and rental prices for Maidenhead and the surrounding areas.
“Crossrail is already having a positive impact on investment decisions in Maidenhead and will continue to support and influence new development,” says Ricky Bhurji, Investment Portfolio Manager at Romans.
“Crossrail will allow tenants to commute in and out of London more easily, resulting in them moving further afield and opting to settle in desirable towns, such as Maidenhead. It will also create quality new buildings above and around its new train stations, benefitting workers, residents, and visitors for generations to come.”
Maidenhead is already a sought after place to live with a national reputation, thanks to its riverside location, popular parks, schools and entertainment facilities, along with its geographical location, giving access to other towns close by. Residents are surrounded by beautiful countryside but live just 42 minutes from the heart of the City.
Average rents in London are £2,500-£3,000 per month for a 2 bed apartment, which is unaffordable for many. People are already looking for more affordable, spacious property outside of London and with the introduction of Crossrail, Maidenhead will become an even more attractive proposition.
“Maidenhead is a true investment hotspot with property prices appreciating up until Crossrail arrives. Demand from tenants and buyers should increase ten-fold and I’m advising investors to start growing their portfolios now, before the demand pushes house prices up even more,” adds Bhurji.
House prices in Maidenhead have already increased by 3.45% in the last year and are almost 17% higher than they were five years ago (Zoopla). This healthy and sustainable growth is a good sign for landlords.
Ricky is advising investors to keep a close eye on Burnham, over the border in Bucks but situated between Maidenhead and Slough. Burnham has seen house prices increase by 2% in the last 12 months, and they are now almost 12% higher than five years ago (Zoopla). Burnham has some great schools, a train station, and already accommodates a lot of people who work in Slough Trading Estate (SEGRO) – the largest trading estate in Europe.
“It is only a matter of time before value hunters see Burnham as a hotspot and start to snap up properties in the area,” predicts Bhurji.
Crossrail will revolutionise travel across London and the South East and for the first time there will be a direct connection between all of London’s main business centres, linking Heathrow with Paddington, the West End, the City and Canary Wharf. The faster train times will bring 1.5 million people within 45 minutes of the capital’s business centres and 200 million people are expected to travel on Crossrail each year.
If you would like advice on which type of properties to buy for investment and want to know more about the investment potential in Maidenhead please get in touch with Romans’ Investment Portfolio team to set up a meeting with one of their investment experts.