Regeneration zones can offer some of the most attractive new homes for investors. They have a lot of potential, especially if the projects also create amenities. There are plenty in London and the team at Finefair have an eye on them so we can keep our clients up to date on the developments. One project that could have some of the best options for property investment Barking and Dagenham can offer is Beam Park. Surprisingly it is also one of the lesser known regenerations.
What is the project?
Beam Park is a huge 720 acre site near the River Rom in Dagenham, far east London. The area was formerly part of a Ford plant but work is underway to regenerate it. The £1billion project will create over 3,000 new homes. This will be one of the largest schemes in the capital and an impressive 50% of the housing will target first time buyers. The homes will be affordable and Help to Buy will be available across the site.
New housing is not all the area will have to offer. The regeneration will create an area that will be very green. Almost 50% of the 720 acres will be green space, including riverside walks.
Beam Park will also receive a new train station. The plan is for it to open in May 2022. Once operational, people will be able to travel to Fenchurch Street in around 20 minutes. Before then locals can get trains at Dagenham Dock and reach the same station in 24 minutes.
In time there will be lots of other amenities in the area. Around the new station there will be local shops, cafes, and restaurants. A new school, nursery and health centre is also planned. There will be lots for sport lovers too, including cycling paths, a gym, a swimming pool and sports pitches.
Work at Beam Park is currently under way. The first homes go on sale this month. Affordable homes will follow in 2021, including lots for shared ownership.
These homes could be some of the best opportunities for property investment Barking and Dagenham has. As a result there are plenty of reasons to consider investing. Finefair can help, offering lots of useful advice and services.
If you want to find out more, please get in touch with us.