- Buyers from the UAE, Saudi Arabia, Kuwait and Qatar are being encouraged by favourable lending and exchange rates
- The housebuilder is also reporting a 25% year-on-year increase in expats investing back into the UK property market, thanks, in part, to Barratt London’s unique deposit scheme
- A new phase of Barratt London’s Hayes Village development, Waterway Apartments, has been launched to address demand
- Award-winning developer Barratt London has revealed a surge in buyers from the GCC investing in properties in the outer boroughs of London as mortgage rates steadily become more attractive. The weak British pound against the US dollar also continues to attract interest from the region due to impressive yields and long-term growth potential.
- Research from the Barratt London MENA office, led by UAE-based Hardington Residential, has revealed that the number of GCC investors purchasing Barratt London properties has increased significantly in Q1 2024 compared to the previous year. The company has also reported that the number of UK expats in the region buying property in their home country, particularly from the UAE and Saudi Arabia, has increased by 25% during the same period.
- Stuart Leslie, International Sales and Marketing Director at Barratt London, said: “We expect the new phase of homes at Hayes Village to be a popular choice amongst our buyers. As well as appealing to relocators moving to the UK, the development will also offer investors the opportunity to reap the rewards of London’s strong rental yields and capital gains potential.
- “Hayes Village is a heritage-led project with strong links to the past. The new apartments established here celebrate the site’s rich industrial history, creating a unique new London village. Our latest phase, Waterway Apartments, presents the next opportunity for buyers to secure a new home in a great canalside location, with plenty of options within the grounds for people who want to keep fit. This development is an exciting new prospect for Hayes, bringing a vibrant residential community to the area. With extensive amenities and excellent commuter links, it is perfect for young families and city workers.”
- Residents at Hayes Village will be reminded of the factory’s unique chocolate legacy around every corner, from ‘Nestle Avenue’ to ‘Milk Street’. The iconic London site was home to many landmark inventions, including the world’s first instant coffee, the discovery of white chocolate and the famous Milkybar.
- After closing its doors in 2014, the redevelopment of the 30-acre site is due to significantly revitalise the immediate area. Due for completion in 2027, Hayes Village will provide 1,500 new homes to the community and open nine acres of previously unused green space. This includes a 1.3km walking trail, a 200m running track, the redevelopment of the canal frontage, a new public square, and a convenient footpath from the historic green to Hayes and Harlington train station – a key beneficiary of Crossrail.
- The development offers excellent road and train connections. The M4 and M25 motorways are within easy reach, and Heathrow Airport is approximately 10 minutes away.
- Prices at Hayes Village start from £327,000 (US$411,000).
- For further information, please visit www.barrattlondon.com.
