Reading is ranked as the best place to live and work in the UK, based on a report by PWC’s Good Growth Index 2018.
This ranking accounts for indicators including economic, wellbeing, employment, health, income and skills.
Good quality of life, convenient work and business locations and top educational hubs are a few of the reasons why local and international homebuyers and investors choose make Reading their place to stay.
Other factors include the strength of the infrastructure, investment opportunities, facilities, and environment and transportations link.
Reading – smart city of the future?
For years, Reading have established themselves as a stand out performers in terms of education, by having the country’s Best A Level results for four consecutive years.
High achieving grammar schools and academies with leading independent schools, Reading’s students attain the highest averages in England. The success of the its education industries is further attested by its educational institutions, University of Reading; ranked as the top 1 percent universities in the world and one of the UK's most research-intensive universities.
Aside from that, Reading is a dynamic and leading work and business locations, next to London.
The town is ranked top 25 most appealing European city for foreign direct investment in FDI European Cities and Regions of the Future, as stated in 2018/2019 Financial Times.
Known to have the highest concentrations of digital enterprises in the UK with giants such as Microsoft, HP, Intel, Huawei, Visa, Fujitsu and Xerox, Reading is well positioned for long-term growth opportunities following the structural growth in technology.
The concentration of tech firms in Reading is 8 times the UK average, according to the Government-backed Tech Nation 2018 report.
Thirteen out of the top thirty global brands are located in Reading, providing significant rental demand and pool of high-quality tenants. The town also hosts the headquarters of British companies and the UK offices of foreign multinationals, contributing over £10 billion in annual revenues (TechNation 2018).
Angus Minford, director of capital markets at JLL, said: "Echoing the trend currently being played out in the leasing sector, we are experiencing an acute lack of available prime product. Whilst there is a significant wall of money targeted at the region it remains a risk-off market and therefore it is the prime and core assets that are attracting attention, of which there is limited supply.”
He further added that we expect to see investment volumes exceed £2 billion by the end of the year and this investor demand, along with sustained occupier interest should encourage the next wave of speculative stock.
With the combination of practical expertise of market leading companies and the technological research from the region’s universities, Reading is well placed for further growth in the coming years.
The city’s growing population, arrival of Crossrail and upcoming Heathrow expansion will result in £30 billion in economic benefits and the creation of 33,200 jobs.
Residential value growth in Reading
Reading is likely to outperform the broader residential market in the South East area due to significant investment, place making and commercial growth.
The residential sales price growth for Reading Town for the upcoming 5 years is expected to be significantly higher and stable at 13.6% (per annum) from 2019 to 2023 compared to 11.4% in South East.
Rental growth is also higher in Reading Town at 13.1%, compared to South East (11.4%).
Selected project: Huntley Wharf
Huntley Wharf is a major new scheme inspired by its industrial heritage and the superb waterside setting.
For 126 years, the site was home for Huntley & Palmers biscuits once the most famous biscuit company in the world.
Huntley Wharf is centrally located in a prime south-facing riverside setting and a few minutes’ walk from Reading town centre and station.
This 6.9 acre development is set in a beautiful landscaped ground with walking distance to the town centre, railway station and other key public transport links such as Reading Station and Crossrail.
Residents will enjoy a range of amenities with over 13,160 sq ft commercial space (riverfront restaurant, coffee shop and convenience store), Riverside Square, Riverside Walk, concierge service and private podium gardens.
Most apartments have a balcony or terrace with the views of the River Kennet, Kings Meadow or Reading skyline.
Huntley Wharf is expected to be completed by Q2 2022.
Event Highlights
For more information on investment opportunities in Huntley Wharf, Reading, come visit our UK property exhibition booth or register at the following link: -
https://internationalresidential.jll.com.my/event-calendar/10/nov/2019/huntley-wharf-reading
For more information about Huntley Wharf, you may can contact JLL International Residential at +603 2260 0700 or wong.christine@ap.jll.com.
