Over the last two years there has been huge competition in London to buy properties in new developments, particularly when the homes are valued at less than £300,000. The high level of demand has even seen people queuing overnight the day before homes go on the market so they can secure one. This happened at Waterside in Hayes and Canary Wharf’s Harbour Central.
The latest round of properties to hit the market is in the Trinity Square development in Hounslow. The project by Galliard Homes has seen the former 1980s headquarters of American Airlines transformed into a new residential complex. 228 homes have been created in the development, including a mixture of one bedroom apartments and studios.
The properties in Trinity Square went on sale on Thursday 5th November, and as expected, a queue of people had waited overnight to register their interest. All of the homes sold out within three hours, for a combined total of £60million. The homes come in a variety of sizes with studios ranging between 301 and 538 square feet and one bed apartments covering between 484 and 613 square feet. Demand was naturally high with prices starting at £199,000 and rising to over £300,000. Buyers looking for parking spaces had to pay slightly more to take one of the 80 spaces in the basement, but this still makes the homes competitively priced compared to the average prices in the market.
Hounslow is a fantastic area for prospective buyers. It offers all kinds of leisure pursuits and has a number of green spaces and parks that people would not expect from such a central location. The transport links are fantastic, with both underground and overground services placing residents less than an hour away from Central London and just three miles from Heathrow Airport. CrossRail will improve public transport links even further in 2018.
It will be interesting to see how well the Trinity Square properties sell, but you can add the name to the list of developments that encouraged buyers to queue for many hours in advance to make a purchase. If you are looking to make an investment in Hounslow or any other area of London, we can help you to make the right decisions, as well as offering full property management and even guaranteed rent.