Investors looking to secure a property in a growing commuter hotspot were invited to attend an event in Watford organised by Bellway London last weekend.
Waterside at Riverwell, a development of one, two and three-bedroom apartments being built off Thomas Sawyer Way in Watford, played host to an investor weekend on Saturday 26 and Sunday 27 March.
The event saw representatives from Bellway London highlight the potential benefits to investors of buying a home in the Hertfordshire town.
Watford is widely recognised as being one of the top commuter locations for those wanting to travel in and out of London. The latest data from Hamptons shows a rental income of £1,200 pcm for a one-bedroom apartment in Watford, and £1,500 for a two-bedroom apartment, with yields of up to 4.5%, demonstrating the area’s investment potential.
The town is undergoing widescale investment to the tune of £1.5 billion, supporting key areas such as transport, business and employment. Watford Junction is being developed as a strategic transport hub, while around 15,000 new homes are set to be built across the town by 2036.
Watford Riverwell as a regeneration project is the largest in the area itself, spanning 70 acres of land, and is set to create up to 1,300 new jobs via new business premises and facilities to attract new occupiers. Watford Hospital is also set to benefit from a new multi-storey car park due to be completed this Spring.
The Riverwell project will also include modern infrastructure to open up the area to the wider town, improvements to transport, sustainability and public open spaces, plus a proposed new primary school facility to provide additional places the existing and new families to the area.
Bellway London is building 143 apartments at Waterside at Riverwell, which also incorporates an on-site residents’ gym and a concierge service. All apartments come with a private terrace or balcony, plus an internal lift to all floors, and there is a communal roof terrace for residents.
The developer is currently selling a range of one, two and three-bedroom apartments within the development, where prices start from £275,000 for a one-bedroom home. The sales office is open seven days a week, from 10am to 5pm, with a late night opening on Thursdays to 7pm.
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