Bob Weston, founder and chairman of Weston Homes, is a successful property developer who has built an impressive portfolio of high-specification homes across Essex and the Home Counties, as well as two innovative Weston Business Centres managed by the Group.
Based in Colchester and Stansted, Weston Business Centres provide purpose built, contemporary office space, designed to accommodate SMEs and medium-sized companies. The serviced offices are located within easy reach of respective town centres, offering small businesses and entrepreneurs a space in which they can grow and prosper.
In addition, five active residential developments across the county offer investors the opportunity to take advantage of the strong rental market. This exemplifies the commitment of Bob Weston and the Weston Group to highlight Essex as the premier place to live and work.
Attractive price points, good location and strong rental demand has increased the popularity of many Essex developments, but Hawkins Wharf in Colchester, in particular, provides an outstanding case study of the potential yields that are achievable.
From great transport links into central London to world-class educational facilities, Essex has become a desirable place to live. However, due to mortgage availability challenges an increased number of renters are entering the market – for buy-to-let investors with capital to invest, these factors amount to a ‘cream of the crop’ investment opportunity.
Bob Weston, founder and chairman of Weston Homes, comments: “Hawkins Wharf has created a benchmark for high quality living in Colchester with homes that offer outstanding value for money, luxurious and spacious interiors, a fantastic location and unspoilt views of the river.
“The development has proved to be extremely popular amongst a wide range of buyers and particularly buy-to-let investors. With huge demand from people looking to rent properties in Essex, these apartments are ideal for investors looking to make a timely profit in the property market. The current phase of Hawkins Wharf is a collection of 75 superior specification one, two and three bedroom apartments with prices from £117,500.”
When complete, Hawkins Wharf will comprise 221 one, two and three bedroom apartments as well as three and four bedroom townhouses, commercial and retail space. Located on the banks of the River Colne, Hawkins Wharf offers attractive investment opportunities for purchasers looking to take advantage of current high demand in the local rental market and achieve up to a 10% yield on their investment annually. A survey by the Office for National Statistics (ONS) also listed Colchester as having the highest projected percentage growth in population between 2008 and 2018, making it a prime location to invest in property.
Ian Stevenson of Porter Glenny estate agency comments: “The University of Essex is one of the few universities that has actually increased its student intake over the past couple of years, despite government increase in tuition fees. In Colchester, where the university is based, we have seen a great amount of interest from buy-to-let investors.
“Weston Homes’ superb riverside development at Hawkins Wharf Colchester offers very sound investment opportunities to both new and experienced property investors. Besides overlooking the River Colne and benefiting from Weston Homes’ typical high specification, Hawkins Wharf is just a short walk from the campus in one direction and Colchester Hythe Station, with its excellent commuter services to London, in the other.
“The university provides a continuous supply of prospective tenants and local letting agents are achieving £650 to £750 rental per calendar month for one bedroom apartments and £825 to £900 for two bedroom, two bathroom apartments. With the cheapest one bedroom apartments starting at £117,500, returns start at around 7% and are set to increase as demand reaches its peak, usually at the beginning of the academic year.
“Based on the opportunities available at Hawkins Wharf, we believe the shrewd investor will want to look at the potential of adding at least one Essex apartment at to their portfolio.”
Although Colchester is the oldest recorded town in Britain, dating back to pre-roman times, it has become a thriving, modern centre for the surrounding area. There is a wide range of shopping, entertainment and cultural venues as well as numerous restaurants, pubs and bars. The town is extremely well serviced in terms of commuter connections, with London Liverpool Street less than an hour away by train. The platform at the Hythe Station have also been extended and upgraded to accommodate the larger intercity trains direct to London Liverpool Street. The A12 provides a fast route to Chelmsford and to the M25 and on to London.
Prices start from only £117,500 at Hawkins Wharf. Other Essex developments by Weston Homes include: Saxton Park in Grays, Morello Quarter in Basildon, Silverhind Court in Chigwell and Trinity Court in Saffron Walden.
