Redrow purchases ‘prime location’
Company takes on site of new homes
OWNERS of a ‘prime location’ site in Yiewsley, where hundreds of new homes are to be built, have sold the area to British housebuilder Redrow.
Hillingdon Council approved plans for a total of 308 homes on the former home of Dairy Crest, Padcroft Works and TiGi Warehouse in December 2015, but building work has still not began as previous owners Kitewood Estates sold up.
Housebuilder and construction company Redrow announced the recent acquisition, in April, of the 2.5 acre plot of land in Yiewsley, West Drayton, enclosed by Tavistock Road and Bentinck Road, behind High Street.
Redrow says the site boasts a ‘prime location’ in the town centre, conveniently located opposite West Drayton train station, beside the canal and, as such, many of the new homes will also benefit from waterside views.
Planning permission for the site includes 262 private residential units, plus an additional 46 units of ‘ affordable housing’, a 175 square metre small business unit, car parking, and a central landscaped public piazza.
Tina Dedman, divisional sales director at Redrow, said: “Following significant investment in the locality, with hundreds of new homes being built, and new shops opening in the high street, West Drayton is now considered to be one of the most desirable property hot spots within the London Borough of Hillingdon.
“With local agents expecting a continued increase in the capital value of properties sold off plan, we believe that the high demand for new build property in the area will continue.”
The Yiewsley and West Drayton Town Centre Action Group previously welcomed plans for the £40 million housing development, but also raised concerns that schools, GP surgeries and shops may struggle to cope with the influx of residents.
But the ‘ Crossrail effect’ has already begun to impact demand for homes in West Drayton, as it enjoys road, rail and air links, with fast rail connections to the heart of the city, Heathrow Airport and access to both the M4 and M25.
With the arrival of Crossrail in 2019, travelling times will be significantly reduced – the West End will be just 23 minutes away and Canary Wharf only 37 minutes by train.
Local property expert Nicholas Jordan, director of Cameron Group, said: “Over the last 18 months we have seen a significant increase in demand for new build homes in the area.
“Fo r w a r d - t h i n k i n g investors who reserved a new build property off plan 18 months ago, have already enjoyed an increase of 20% in the capital value of their new home. We anticipate that new build properties being sold off plan will continue to rise in value at a similar rate as the completion date for Crossrail gets closer.”
n CHANGE OF OWNER: An artist’s impression of the new development