Two years ago, in West London’s Zone 2, the transformation of the old low-rise commercial units into the White City Living development created a microhousing boom that helped kickstart a brand new W12 neighbourhood just north of Shepherd’s Bush. The first phase rollout of these high specification apartments was an instant hit with investors who saw great potential in a location still closely associated with the pioneering work of former occupants, the BBC. A second phase named Water Gardens is now set to build on this success. Developers, St James are confident that owners here will get similar results to those who bought in the first phase which completed two months ago and is seeing rental investment yields of 4% – well above the 2-3% average experienced in nearby Central London.
Designated investment opportunity area
This optimism is bolstered by several key indicators. First of all, White City is a designated Investment Opportunity Area which means that £8 Billion has been earmarked for the purpose of making it a long-term prospect. It’s a massive undertaking, even by London’s standards and involves a partnership between leaders of the education, tech, finance, media and property sectors. World-class university, Imperial College London have established a 23-acre research campus next to the development and, together with Blenheim Chalcot and Thinkspace, they will be pushing to ensure that White City Living evolves into a unique destination for creatives as well as a top-tier property hotspot.
Demand for rentals outstripping supply
Available in Manhattan, one, two and three bedroom apartment configurations and with prices at starting from £770,000, the apartments at Water Gardens are eminently rentable. Recent 1 and 2 bed completions in the first phase had on average 32 applicants and all our available properties rented out within 48 hours. These apartments were furnished and let by us and we still have many waiting applicants registered.
Residents have access to a pool, spa, gym and business centre as well as perfect views of the surrounding parkland and waterways. The close proximity to the mammoth Westfield London (Europe’s largest shopping mall) is a particular draw as it provides not only high-end shops and designer boutiques, but also has top quality restaurants, recreational spaces and a multiplex cinema. All these amenities, together with the superb connections to the development via a series of interconnected walkways: a fact that further bolsters its placemaking credentials.
The massive upgrade of transport options in the immediate vicinity is a sure sign that investors in Water Gardens are well set to become part of something big. The construction of Westfield a few years ago coincided with the opening up of Wood Lane – a brand new station on the Hammersmith & City Line, specifically created to serve the western end of the centre. Shepherd’s Bush has a station each on the Central Line that runs a service to the West End and the City and on the Hammersmith & City network that connects to the Paddington Heathrow Express and the Eurostar Terminus at St Pancras. There is an additional Central Line stop at White City and an Overground route that connects with many Zone 2 neighbourhoods. Most journeys into the West End and the City will take just around 15 minutes.
With all this expansion and connectivity, it’s quite easy to see why this new hot-spot has already become a favourite. Buying off-plan, here has reaped dividends for many and Water Gardens is set to provide another golden opportunity for far-sighted investors to capitalise upon. If you have a property to let at White City Living or require more information about this fantastic scheme, do get in touch.
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