This latest waterfront residential project from Berkeley is making U.K.’s tech hub more attractive for overseas property investment
Reading has long been a favorite destination for upcoming professionals, business startups, and young families looking for affordable, yet convenient properties to settle in outside of London.
Today, emerging tech companies are starting to take a foothold in key areas of the city, making Reading’s rental property market attractive to overseas investors and buyers.
The Silicon Valley Of Britain Offers Long-Term Investment Growth
Voted as the U.K. No. 1 Tech Centre by KPMG’s Tech Monitor, Reading remains to be a global hotspot for multinational tech companies.
In fact, major tech firms like Cisco, Oracle, Huawei, and Microsoft have found a home in Reading.
This thriving tech community has so far contributed over £10bn in annual revenue, according to TechNation. Plus, the area’s technology firms also account for 40,440 jobs - making the city with the lowest unemployment rate in the whole country at 1.5%.
One of the key reasons for Reading’s emerging tech industry is its number of young professionals.
Thanks to its top notch universities and lower cost of living, these prospective renters often choose Reading as an alternative to London to jumpstart their career or business.
And because of its close proximity to London, Reading provides easy access to airports and major universities, making it a magnet for talent and investment funding locally and internationally.
It’s no wonder that in 2018, Tech Nation reported that the city’s tech company density is approximately seven times higher than the national average.
Elkie Russell, Managing Director, Berkeley Homes (Oxford & Chilterns), comments,
“Reading has so much to offer residents, employers and investors alike: the UK’s largest tech cluster; home to 13 of the world’s top 30 global brands, excellent employment opportunities with one of the highest wages in the UK outside of London, superb transport connections and outstanding education, to name a few.”
Of course, with unprecedented growth comes the need for comfortable living spaces not only for single, up-and-coming professionals but also for young couples who wish to start a family outside the hustle and bustle of London.
For savvy investors, this could spell an opportunity for the real estate market - especially with how the market is trending right now.
Reading’s Rental Market: Among The Best In The U.K.
Reading’s commitment as South East’s business and hi-tech capital is starting to pay-off.
Just recently, it was named one of the most attractive European cities for foreign direct investment in the FDI European Cities of The Future by the Financial Times.
At the same time, the Heathrow expansion in the South East - in which Reading is located - means an additional £30bn in economic benefits and the creation of up to 33,200 new jobs around the area.
Reading’s Network Rail has also gotten a massive facelift providing unrivaled rail links to over 300 destinations and the fastest journey time to London Paddington by only 23 minutes.
Station Hill will also provide over 900,000 sq. ft of mix-use development. It is also set to introduce around 2,500 jobs to the area -- thus, increasing rental demand to newer heights.
Because of these massive developments and international recognition, Reading’s rental property continues to trend upwards.
Steve Woodford, Managing Director, of local lettings agent, Haslams, comments
“Property values in Reading have experienced consistent growth over the last decade, with town center apartments rising in value by 75% over the last five years.”
“With Crossrail now imminent and talks of a new fast, direct rail link to Heathrow, we believe that real estate in Reading will continue to offer a solid investment proposition.”
According to Haslams, typical rental returns in Reading are between 4% and up to 4.5%.
Haslams let between 70 and 100 properties every month.
Meanwhile, void periods are minimal and usually, properties are let within one week of being marketed.
Reading’s population of 230,000 continues to grow and is set to continue for the foreseeable future particularly with the arrival of Crossrail - meaning that demand from tenants is here to stay.
With ongoing infrastructure developments, positive forecasts from economic experts, an upward trend in the rental market, and revitalized transport links, it’s no wonder Reading is attracting numerous high-end developers to meet the demand for comfortable living residential.
One of the most appealing investments in the works right now is Huntley Wharf - Berkeley’s latest residential project located in a prime riverside estate just a few minute’s walk from Reading town center and station.
An Exciting Riverside Property Investment Near The Capital
The Huntley Wharf project is a 6.9-acre site conveniently located in central Reading and just 30 minutes away from Central London.
It offers more than 750 new homes in three principal buildings and a range of amenities with over 13,160 sq. ft. of commercial space, concierge services, and private podium gardens.
Apartments in Huntley Wharf include Manhattans, one-, two-, and 3-bedroom apartments and duplexes, with a choice of four color palettes for a more personalized touch.
Huntley Wharf also offers a number of generously sized duplex apartments, plus two riverfront 3 bedroom triplexes with flexible living accommodation spread across 3 floors.
Residents will have exclusive access to services like gym, co-working spaces, a day nursery, plus public amenities such as restaurants, a convenience store, a riverside walk, and coffee shops.
For savvy investors, there’s no better time to jump on this opportunity than today, and here’s why.
In recent years, there has been an undersupply of high-quality town center apartments that are in constant demand from young professionals.
Berkeley’s Huntley Wharf development responds really well to this market.
Not only are the units high quality and built by a premium developer but the development itself offers valuable space, tranquility, and the ability to walk or cycle to large employment hubs.
All of these aspects are emerging as a key requirement for tenants.
Therefore, prospective buyers may expect units at Huntley Wharf to achieve some of the very best values anywhere in Reading ranging from £1,200 - £2,500 per month with premiums of £50-£100 per unit for those with waterside views.
Don’t Miss Out On This Emerging U.K. Property Market
Huntley Wharf is scheduled for completion in the second quarter of 2022. But as early as this month, investors and buyers are invited to check on a number of residential apartments already available for purchase.
For more details about Huntley Wharf, you may contact JLL International Residential at +6012 908 6318 or firstname.lastname@example.org.