Many buyers take a look at the investment properties Barnet has to offer. There is plenty to love in the area, including lots of open spaces and fast transport links. In addition there is redevelopment to improve housing and amenities. If you are thinking of investing, this is a location to think about.
A new regeneration
Plans to regenerate Westhorpe Gardens and Mills Grove Estate in Barnet took a big step forward last month. A ballot asking locals to vote on the plan brought a yes result. This means an important hurdle has been successfully overcome and the project can move forward.
Why ask permission?
Housing association Metropolitan and Thames Valley had to ask people living on the estate to vote on their plans. This is because the Mayor of London introduced a new policy in July. To get City Hall funds locals must vote in favour of the work.
The ballot is the first in London since the new policy came in. Of 108 current residents, 71 took part in the voting. Of them 88% said yes.
What is the plan?
The regeneration of the estate will involve demolition of 102 social rent homes. All of them will be replaced with high quality modern properties. In addition there will be 150 new homes. These will be available for various tenures, including shared ownership and social rent. There will also be some housing specifically for over 55s.
Regenerating the estate will require a sizeable investment. The current homes date back to the 70s and are therefore nearing the end of their lifecycle. The new ones will be up to date and achieve higher energy efficiency standards.
A planning application will follow the yes vote. It should be in the hands of Barnet Council within the next few months.
Finefair strives to help people find the perfect homes. We know what to look for, especially with the huge number of potential investment properties Barnet has. Rely on us and we won’t disappoint you. In fact we will give you all the support you need and deliver great value. Call our team today to find out more about all our services, including guaranteed rent and property management.