Many Outer London areas rely on a single development or feature to put them on the property map, which is fine if the buying demographic is narrow. By doing precisely the opposite, the Colindale rental market has become a leading driver of growth in Northwest London. This is an area, close to one of the main routes into London, that has enough land to support multiple developments. After a bumper year which yielded over 60 transactions, our Colindale sales team are hungry for more success.
New builds bring new energy
New-build apartments in Colindale centre around developments like Beaufort Park and Colindale Gardens, which have transformed the neighbourhood beyond recognition. These two are the epicentre of a regeneration wave that has expanded along the A5, up to Edgware and down to Hendon. Along with high-quality accommodation, there has been a distinct upgrade in infrastructure and amenities. New retail parks, schools and parks are helping to create a cohesive and lasting sense of community and permanence. Landlords can expect a tenant demographic that is aspirational, hardworking and appreciative of the kind of affordable luxury on offer.
Hong Kong buyers provide a welcome boost
Demand from Hong Kong buyers has been a massively important factor in Colindale’s continued rise and will always be relevant. A combination of personal circumstances, family ties and the decision to take advantage of the BNO visa scheme continues to attract many to NW9. Coming from successful professions and businesses, they are largely unaffected by interest rates or wider economic issues. Increased property investment in Colindale has come at exactly the right time for them. Direct transport links into Central London makes commuting easy and a long-established Chinese presence in the borough provides a welcome sense of community.
Demand exceeds pre-pandemic levels
We expect demand from overseas investors to strengthen even further, as many look to resume post-pandemic investment plans that had been put on hold. Massive rental demand, together with and a weak pound is sure to be an irresistible combination. Landlords here, will find themselves in a strong position as yields are respectable and void periods almost non-existent.
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