Dubai, United Arab Emirates
- Projected growth of 19% in the next five years and rental yields of almost 6% are piquing interest in Barratt London’s investor-driven product portfolio from savvy Middle East investors
- The Barratt MENA team will be showcasing a range of properties at Cityscape Global, including recently launched projects in London’s famous Wembley area and the multi-million dollar Hayes Village regeneration project
Barratt London and the recently launched Barratt London MENA office, led by UAE-based Hardington Residential, will be targeting Middle East investors with a range of projects offering high yields and impressive projected capital appreciation when the company makes its debut at Cityscape Global, which takes place from 10-13 September in Riyadh, Saudi Arabia.
One project being showcased to investors on Hardington Residential’s dedicated stand at the international property showcase is Barratt London’s award-winning Hayes Village regeneration project, which was recently visited by British Prime Minister Rishi Sunak, where he announced an additional US$250 million (£200 million) of government funding for development of new housing on brownfield areas in the English capital.
Homes at Hayes Village, set on a former Nestlé factory site, range from one-bedroom apartments to three-bedroom family properties, with some still retaining the elegant Art Deco featured in the original factory. Barratt London’s latest offering within the development is the Richart Apartments, a collection of one- and two-bedroom apartments, with prices starting from US$415,000 (£329,000). The development is surrounded by parks and gardens planted with 250 new trees and includes fitness trails, outdoor gym equipment and play areas to improve health and wellbeing.
A footpath also connects the development to Hayes and Harlington train station in less than a nine-minute walk, with high-frequency Elizabeth Line trains into central London in 30 minutes.
Stuart Leslie, International Sales and Marketing Director at Barratt London said, “Similarly to our other major regeneration schemes, Hayes Village is proving popular with overseas buyers, particularly those from the Middle East where we have seen significant interest and sales from individuals and family offices from Saudi Arabia, Kuwait, Qatar and the UAE.”
“There has been a significant uptick from buyers in the Middle East looking for a home in London for work or as a home for children who are studying in the capital. With projected capital growth of 19% in the next five years and expected rental yields of up to 5.9%, the development offers great value for money, piquing the interest of Middle Eastern investors keen to diversify their portfolios in a reputable and potentially lucrative market.”
Another Barratt London development making waves amongst Middle Eastern investors is the recently launched Wembley Park Gardens, a new landmark development built in the heart of Wembley Park, an area famous with football fans worldwide as the home of the England national football team.
In addition to football fans, overseas investors have quickly recognised the area’s transformation, following US$3.5 billion (£2.5 billion) of regeneration in the last 20 years. In the previous five years, rents in the area have increased by 49%, compared to the 23% London average. Furthermore, despite benefiting from the regeneration of Wembley Park and the redevelopment of Wembley Stadium, according to research from JLL, the neighbourhood is still 30% cheaper than the Greater London average, further underscoring the return on investment opportunities.
The development will deliver a smart collection of 302 one- and two-bedroom apartments to the market, featuring outdoor private space, with prices starting from US$495,000 (£395,000) and handover for phase one expected by summer 2025.
Residents will benefit from a world-class destination, offering a good choice of shopping, world-class restaurants, picturesque green spaces, highly rated schools and cultural and leisure attractions. Central London is just 20 minutes via the Underground, while overground stations provide easy access to the countryside and key British towns and cities, such as Oxford.
Ian Plumley, Managing Director, Hardington Residential, said, “Investors in the Middle East have been quick to recognise the unparalleled financial opportunities many of the capital’s regenerative areas are offering, including Wembley Park Gardens, where robust yields, impressive return on investment and substantial capital appreciation have resulted in a spike in interest from interested buyers in this region.”
“Cityscape Global represents an excellent opportunity to showcase the quality of the developments offered by Barratt London while also providing an overview of the potential financial remuneration investors can expect. We will have a team on hand able to outline everything from the areas within London where the developments are located to applying for mortgages, ensuring a confident and informative process.”
Barratt MENA will be exhibiting at Cityscape Global in Hall 1, Stand R64, with Stuart Leslie and Ian Plumley available for interview throughout the show.