While some will resent too much disruption or any attempt at excessive building, others will point to the need for more housing in the suburban belt to meet growing demand.
Research, previously conducted by CBRE, found that house prices within 750 meters of a regeneration area are increasing over average 3.6% per year – 1.5% higher than the average for the extended local authority.
That number could now be even higher, as homebuyers increasingly look to out-of-town locations to access or move up the ladder with the help of the current housing boom.
Often touted as two of the best suburban towns near London, Slough and Bracknell are just two destinations that demonstrate the power of urban regeneration in helping suburban belt towns be seen as potentially exciting alternative locations to the capital. .
A positive project
With a 20-year regeneration program that has invested £770 million in the suburban town, Bracknell is arguably one of the most successful and extensive urban regeneration projects in the South East.
Dedicated solely to the £240m The Lexicon shopping centre, Bracknell’s recently revitalized retail, leisure and hospitality offering has prompted an influx of desirable brands into the city, along with infrastructure improvements and additional parking.
Boasting of Bracknell
In recent years the transformation of the town has seen its popularity soar with Reading and Windsor nearby now increasingly overlooked by Bracknell residents who have quick and easy access to everything they need at their gate.
Less than a year after opening The Lexicon, downtown has seen more than 16 million customers take advantage of all it has to offer, with data from footfall analytics firm Huq underlining this, carrying out Covid lockdowns and the reopening of non-essential storesBracknell was one of the three busiest towns in the UK.
Set to further benefit from a brand new entertainment and shopping district, this thriving suburban town can also look forward to The Deck, set to launch in 2023, along with other development plans outlined in the ‘Vision 2032‘. These facilities will undoubtedly satisfy the growing demand of homebuyers looking for an attractive location on the outskirts of town that offers both commutability and desirability.
Slough doing quick moves
Slough has also been transformed with investments of over £450million, which include the development of The Curve, Slough’s signature mixed-use facility and cultural center just a stone’s throw from the high street.
In addition, housing a library and gallery, the Slough Museum, community learning spaces and IT suites, as well as an exhibition space and performance hall, The Curve has quickly become a popular leisure venue for the city.
Development of Slough town center continues with proposed plans for the regeneration of the high street, including a complete replacement of the Queensmere Observatory shopping center and an additional £3 billion investment from the Slough Urban Renewal Project.
Target market in question
Popular among professionals looking for a property that offers the tranquility of life on the outskirts of town, while offering unparalleled access to key areas of London, Bracknell and Slough are both ready to capitalize on the benefits of local regeneration – providing the perfect opportunity for homebuyers and investors to get a head start and buy in these thriving locations.
For more information on SevenCapital, please visit www.sevencapital.com.