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Property Investor Today: From much-mocked to cool – Slough’s transformation continues

Monday 10th February 2020

A start date has been announced for a ‘much-anticipated’ housing development in central Slough, as the town continues to transform itself from the reputation foisted on it by the infamous John Betjeman poem and popular BBC sitcom The Office.

Property developer Click Properties has announced that work will start on its development of 238 high-end studio, one, two and three-bedroom apartments in Slough town centre at the start of April of this year.

Interest has been ‘incredibly high’, Click Properties says, due to the popularity of Slough as an investment location, with more than 50% of the initial off-plan phase reserved before the official launch.

The development, to be known as Aspire, will be situated on a former open-air car park on Herschel St, just a five-minute walk from Slough railway station. The homes on offer are expected to appeal to anyone wishing to commute into Central London, with Paddington station currently just 16 minutes away. When Crossrail finally launches at some point next year, Bond Street is set to become accessible in under 32 minutes and Canary Wharf within 45 minutes.

With UK house price growth at a 14-month high, according to Nationwide Building Society, up by nearly 2% on the year earlier as confidence returned to the housing market following the general election, Anthony Moubarak – head of sales and marketing at Click – believes this and the continued popularity of Slough as a property investment location will make these new homes successful.

“Long gone are the days when you could make jokes about Slough,” he said. “This is a town that is already proving itself on so many levels, but the best is yet to come and that’s what makes our homes such an attractive proposition right now to investors and first-time buyers alike.”

He added: “Whilst delays to the arrival of Crossrail have received much negative press, the reality is that this means for anyone investing here now, the significant uplift in property values which have been forecasted, are still to be enjoyed. Add to that the incredible levels of regeneration being carried out as part of the Heart of Slough programme, the town’s continued success as a commercial powerhouse attracting many well-known businesses and its ongoing affordability vis-à-vis the nearby capital, there’s every reason to have confidence in Slough’s future.”

The company says 50 of the new homes will be designated as affordable, with a significant number set to be available through shared ownership.

Click adds that all of the units will be finished to a high standard that meet the latest building control standards and certifications, while the communal roof terrace will enjoy uninterrupted and protected views of Windsor Castle.

A show home will launch early next year and it’s predicted that the first homes will be completed during Q4 of 2021.

Debbie Aplin, a non-executive director at Click and an industry veteran with a wealth of experience in brownfield urban mixed-use and mixed tenure schemes, said: “Slough has seen almost 20% property price growth over the last five years - a figure significantly higher than for London (12%) over the same period. It is, therefore, clear why the town appeals to savvy investors and since the start of this year, we’ve witnessed a marked increase in interest from both investors and first-time buyers, fielding sales enquiries in double figures each day.”

She added: “Our presence on site and evidence of work progressing will I’m sure heighten interest even further and our sales team are preparing for a very busy period in the coming months.”

Prices at Aspire start at £199,999 and Help to Buy is available for first-time buyers. Further information, and a virtual 360 tour, can be found at: www.clicksaspire.co.uk.

By Property Investor Today

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