Dedicated locality research platform
Dedicated locality research platform
Enter your email address and you will receive
a link to reset your password
British Prime Minister Rishi Sunak visited the Hayes Village regeneration project by Barratt London last month where he announced an additional £200 million of Government funding for the development of new housing on previously unused areas in London. Sunak was guided through the project, which has turned an abandoned Nestlé factory site into high-quality residences. Leading figures from Barratt Developments, including Regional Managing Director Gary Ennis, Barratt West London Managing Director Craig Carson, and Project Director Lee Greenwood, accompanied Sunak during the visit.
This marked Sunak’s second visit to Hayes Village, as he had previously toured the site while serving as Chancellor during the Covid-19 pandemic. During his initial visit, Hayes Village had not yet attracted any customers. However, currently, the site has almost sold half of its available units.
London remains a preferred destination for Indian investors, who are drawn to the city’s real estate due to its perceived stability and attractive returns. The rise in the number of Indian students coming to the UK, consistent market performance over the years, and a history of reliability are among the key factors driving the increasing trend of Indian investment in the property market.
In his recent visit, Sunak declared the UK Government’s intention to encourage housing construction in London, specifically focusing on maximizing the potential of brownfield developments situated near London Underground stations.
Hayes Village, planned to encompass 1,473 new residences, nine acres of parks and gardens, a community hub, commercial spaces for retail and offices, leisure facilities, and a fresh footbridge spanning the Grand Union Canal, is conveniently located within a mere 10-minute walking distance from Hayes & Harlington station. This station provides Elizabeth Line services, enabling a 20-minute commute to Bond Street and a less than 10-minute travel time to Heathrow.
Residences within Hayes Village encompass a variety of configurations, ranging from studio apartments to three-bedroom family homes. Notably, certain dwellings are located within refined Art Deco structures that once served as factories. These are surrounded by green spaces, featuring 250 recently planted trees, offering opportunities for exploration. The outdoor areas include fitness trails, exercise equipment, and recreational zones, contributing to improved health and overall well-being.
Anticipating a projected capital appreciation of 19% within the upcoming five years, along with the expectation of rental returns reaching up to 5.9%, this development presents exceptional value for money, featuring new residences starting at £3.5 million.
Barratt London’s regional associate, Benham & Reeves India, has organized events in Mumbai and Delhi on this month. These gatherings offer interested individuals the chance to interact face-to-face with members of the Barratt London team and acquire more information. The presence of Rishi Sunak, whose roots trace back to Punjab and who is wedded to Akshata Murty, an Indian-born heiress, entrepreneur, and fashion designer, is certain to kindle greater enthusiasm among Indian investors for exploring this prime rejuvenation district in London.
Propscience is India’s dedicated property news portal. We cover the latest events, news, trends, deals, new launches and more.
All our services and tools are completely free of cost and available 24X7!
