Where Crossrail & HS2 Collide
Since the 2012 Olympics the West of London has been overshadowed by the East and Stratford’s regeneration. However, a decade on from that, the West is coming back strongly. This is being driven by the massive new rail hub of the Elizabeth Line Crossrail station and the terminal for the rapid High Speed 2 (HS2) rail link to the northern cities of the UK.
The area which had a great deal of wasteland is going to be transformed by 45,000 new homes. This area on the A40 corridor leads out to Hayes and Heathrow Airport, will see a total of 126 building sites spring up. But it doesn’t stop there, Sadiq Khan (the mayor of London) has requested another 20,000 homes to be delivered. This is to be considered in December 2020.
More than just property
Park Royal is a protected industrial area which is home to a huge amount of studios where artists and local tradespeople thrive. By ‘protected’ we mean that homes cannot be built upon the site. This hub of creativity is also not far from the Imperial College London’s White City campus. This mixture of creativity and youth brings a vibrancy and means the gentrification process is likely to be tempered into something more sustainable.
Short-Let Property Impact
You only have to look over to the opposite side of London, Stratford, to see the effect this amount of development can have on the property market. If you’d have bought a property at the turn of the millennium in the Newham borough, you would be sat on something around a 429% increase in value. Whilst this Park Royal & Old Oak Common are unlikely to rise as much as this in value, the principle is the same. We would look at properties on the periphery of these developments and look to raise the value with your own improvements.
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