Although some will resent too much disruption or any attempts at over-building, others will point to the need for more housing in the commuter belt to keep up with soaring demand.
Research, previously carried out by CBRE, revealed that prices of homes within 750 meters of a regeneration zone grow on average 3.6% per year – 1.5% higher than the wider local authority area average.
This figure could now be even higher as homebuyers increasingly look to outer city locations to get on to or move up the ladder with the aid of the current property boom.
Often touted as two of the best commuter towns near London, Slough and Bracknell are just two destinations that demonstrate the power of urban regeneration in assisting towns within the commuter belt to be seen as potentially exciting alternative locations to the capital.
A positive project
With a 20-year regeneration programme which has seen £770 million worth of investment ploughed into the commuter town, Bracknell is arguably one of the most successful and extensive urban regeneration projects across the South East.
Solely dedicated to The Lexicon Shopping Centre with £240 million, Bracknell’s newly revitalised retail, leisure, and hospitality offering has caused an influx of desirable brands to the town, as well as infrastructure enhancements and additional parking.
In recent years, the town’s transformation has seen its popularity skyrocket with nearby Reading and Windsor now increasingly overlooked by Bracknell locals who have quick and easy access to everything they need on their doorstep.
Within just one year of The Lexicon opening, the town centre saw over 16 million customers enjoy all that it has to offer, with data from footfall analytics company, Huq highlighting that, proceeding Covid lockdowns and the reopening of non-essential shops, Bracknell was one of the top three busiest towns for footfall in the UK.
Set to further benefit from a brand new leisure and shopping quarter, this flourishing commuter town can also look forward to The Deck which is geared up to launch in 2023, as well as further development plans outlined in Bracknell Forest Council’s ‘2032 Vision’. These facilities will undoubtedly satisfy the rising demand from homebuyers searching for an attractive outer-city location which delivers on commutability and desirability in equal measure.
Slough making swift movements
Slough has also been transformed with investments of over £450 million, which includes the development of The Curve, Slough’s iconic multipurpose facility and cultural hub that is located just a stone’s throw away from the main high street.
Also, home to a library and gallery, Slough Museum, community learning spaces and computer suites, as well as an exhibition space, and a performance venue – The Curve has quickly become a popular leisure hotspot for the town.
Slough’s town centre development continues with plans proposed for the regeneration of the high street, including a complete replacement of the Queensmere Observatory shopping centre and an additional investment of £3 billion from the Slough Urban Renewal project.
Target market in question
Popular amongst working professionals looking for a property which gives the tranquillity of outer city living, whilst still offering unrivalled access to key areas of London, both Bracknell and Slough are set to capitalise on the perks of local regeneration – providing the perfect opportunity for homebuyers and investors to get ahead of the curve and purchase in these prosperous locations.
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