A leading global financial hub, London’s property market has proven its resilience over decades, with an ongoing strong demand for residential accommodation, says Dr Andrew Golding, chief executive of the Pam Golding Property group, which is the exclusive residential real estate partner in Africa of the London-based property giant, Savills.
Says Dr Golding: “Over the next five years, prices in prime central London are expected to rise by a total of 21.6% (compounded), with outer prime London house prices forecast by Savills to rise by 13.6% for the same period (2022-2026).
“This is why Bent Cross Town, a major regeneration project in outer prime north London within just 12 minutes of Central London (Zone 1), offers South Africans a sound residential investment opportunity to get in on the ground floor of what is widely expected to become one of the best places – if not the best – to live in the city.
“In 2021, the neighbourhood of Brent Cross Town experienced house price growth in 2021 of more than 3.9%, which compares favourably with central London’s growth of 4%. In 2022, house price growth in outer prime London is forecast at 5%, exceeding prime central London’s anticipated growth of 4%.
“A further positive indicator for investors is that in 2021 the city of London experienced rental growth of over 10% – the strongest growth of any region in the UK and a trend which is expected to continue.”
Adds Brian Gradner, international sales manager of Pam Golding International, which is marketing residential units in Brent Cross Town in Africa: “Furthermore, London has a significant under-supply of housing, with over 66 000 new homes needed and fewer than 40 000 being built every year.”
Brought to market by the creators of King’s Cross in London and Hudson Yards in New York, Brent Cross Town developers – Related Argent, are creating a brand new £7 billion mega-project with 6 700 new homes, a high street, workspace for over 25 000 people, eight public squares, wide pedestrian boulevards, 50 new shops and restaurants, and 50 acres of landscaped parks and playing fields.
Says Gradner: “The vision for this large scale, mixed-use development is to provide a place which supports health and wellbeing, maximises the opportunities offered by changing lifestyles and supports more flexible ways of living and working in London. People can enjoy a better quality of life and greater sense of community when everything they need is within a 15-minute walk or cycle, with easy access to home, work, childcare, health practices, schools, shops and restaurants. Brent Cross Town is also set to be net zero carbon by 2030 and will see 700 new trees planted.
“With its green spaces, wellbeing amenities and commitment to the environment, Brent Cross Town is ahead of many other London developments. The homes are ideal for South African buyers for pure investment, a secure and healthy residence for adult children living abroad, or as a convenient base in Europe.”
Brent Cross Town will sit between two stations – one on the Northern Line, and the new Brent Cross West station which will open before residents move in, on the Thameslink Line, which will link it directly to key locations in Central London as well as direct access to Luton and Gatwick airports. The entrance to the new station is only 500m away through the park. The new town also has immediate access to the M1.
The first two residential buildings marketed by Savills – and by Pam Golding Properties in Africa – are The Ashbee and The Delamarre which comprise a total of 277 units, ranging from studios to one, two and three-bedroom apartments, including maisonettes, with many units including balconies or terraces. The light, airy and spacious homes are in enviable position with lakeside views across Claremont Park, with interiors designed by globally renowned architects, Woods Bagot. Every resident of the new buildings will also be part of The Claremont Park Club, a state-of-the-art health and leisure club and workspace facility located across the ground floors of both buildings, which will include a concierge, residents’ lounge, gymnasium, fitness studio, workspace, meeting room, private dining room, screening room and bar.
With the two buildings launched in this first phase estimated for completion in Q4 2024, apartment prices start from £400 000 and residents can apply for a parking licence for a bay in the shared basement car park. Finance is available for interested investors.
Adds Gradner: “Brent Cross Town is near higher valued areas such as Hampstead Heath, where values exceed £1 million on average, which speaks to the longer-term investment potential of buying into this next-generation development.”
For further information contact Pam Golding International on 021 7101700, Brian Gradner via brian.gradner@pamgolding.co.za or visit www.pamgolding.co.za/property-development/united-kingdom/brent-cross.
