Developer Backs Staines-Upon-Thames As Investment Hotspot
Staines-upon-Thames – the overlooked leafy riverside location just 35 minutes away from the heart of the capital – is pipped to become Surrey’s next biggest property investment hotspot according to developer Berkeley, and backed by Savills.
Berkeley, the WhatHouse? Award-winning developer renowned for its luxury London portfolio, reports an unprecedented interest from customers looking to buy into its new Staines-upon-Thames development, Eden Grove – following the launch of the scheme in September 2020 during lockdown.
Surrounded by the most expensive commuter real estate outside of London and resting on the banks of the River Thames, a decade of regeneration and rejuvenation has transformed Staines-upon-Thames. Boasting a vibrant economy and within easy access of London, Staines-upon-Thames is becoming a destination of choice for investors looking for green spaces and countryside living just a short train journey from London, a trend augmented by the pandemic.
Eden Grove
A pull for investors, property price growth in Staines-upon-Thames has outperformed its prestigious neighbouring commuter belt locations, but despite such growth, Staines remains affordable. The average property is close to £100,000 less expensive than the capital and areas just a stone’s throw away (ONS, UKHPI). Price growth looks set to continue on an upward trajectory in future years, with a 20% uplift in property prices in Staines forecast over the next five years, according to an average of forecasts from Savills, Reuters and Knight Frank (2020).
Lawrence Bowles, an analyst in the Residential Research team at Savills, said: “The experience of lockdown has driven many households to seek homes further out of the city that can offer more space. But most workers have said they expect to work at least three days per week from the office once lockdown ends. Staines offers a balance between these two drivers. Strong investment in Eden Grove will help provide the rental stock so sorely needed in this commuter hotspot.”
Unprecedented demand
Despite launching in lockdown, Berkeley has seen interest in its Eden Grove Staines-upon-Thames development see an unprecedented strong start. Since Phase One of the scheme launched in September 2020, the developer has already seen a third of all units sold, before the Sales & Marketing Suite and Show Apartment opens to the public later this month.
Paul Vallone, divisional managing director at Berkeley, said: “Launching our new scheme three years off-plan during lockdown was ambitious, but we’ve seen clear appetite from investors looking to find a hidden gem. The area is undervalued with great growth potential – which has proved highly attractive for buyers looking to invest in bricks and mortar in the current climate. And crucially, Eden Grove offers everything research shows people are looking for now – outdoor space and great commuter links, while appealing to those working from home with a co-working space that’s unique to the area, and access to ultra-fast broadband. All with the unrivalled quality, finish, facilities and customer service that buyers have come to expect with a Berkeley home.”
Eden Grove
The comeback of the UK investor
Bucking the trend of typically international investors buying off-plan, Berkeley’s Eden Grove has seen a bounce back of the UK investor market, with 56% of interest from UK buyers looking to invest now.
Vallone added: “We are delighted in the confidence we have seen in buying into Eden Grove three years off-plan. Our buyers are reporting a desire to invest now with forecasts for the area so strong in terms of property prices, and rental yields of up to 5.6%, versus the 3.53% UK average.”
Berkeley’s research identified five reasons why Staines is a top choice for investors:
- The investment: Staines-upon-Thames has seen property prices rise by 22% over the past five years, compared to just 17% across Surrey and 20% in London. Plus, the average property is close to £100,000 less expensive than the capital and areas just a stone’s throw away.
- The countryside lifestyle: Staines-upon-Thames is on the very edge of London’s green belt – providing a wealth of open spaces from Virginia Water, and Windsor Great Park, with the royal residence nearby. Staines Moor and the banks of The River Thames provide perfect opportunities for riverside walks during the summer.
- A magnet for business: A lure for big name employers due to its enviable connectivity and links to the Heathrow economy, Staines-upon-Thames is ranked No.1 in the UK for new business start-ups. Over 1,100 new businesses have set up across the area since 2010.
- The Heathrow effect: With Heathrow on the doorstep and the M25 offering easy access to the M3 and M4, Staines-upon-Thames boasts superb transport connectivity, and London just a 35-minute commute by train.
- Educational excellence: The heritage of Eton College and Royal Holloway University mixes with 21 independent schools within six miles of Staines-upon-Thames, and a leading modern international school.
Eden Grove
Berkeley’s Eden Grove will be a new residential quarter in Staines-upon-Thames featuring a collection of apartments located within a short walk of the town's train station and town centre. Eden Grove’s residents will enjoy the comfort and convenience of a concierge service, as well as access to residents' facilities including a gym, cinema room, co-working space, a landscaped central courtyard, and underground private parking available to purchase.
One- and two-bedroom apartments at Eden Grove start at £360,000 and £530,000 respectively. The Sales & Marketing Suite and Show Apartment is open daily by appointment only from 10.00am to 6.00pm (10.00am to 8.00pm on Thursday).
Find out more about Eden Grove from Berkeley.
Find retirement homes in Berkshire
Find Help to Buy homes in Berkshire
Find new homes in Berkshire