Growing rental demand from a vibrant student community is believed to be behind strong investor returns at the luxury waterside Weston Homes development, Hawkins Wharf, in Colchester, Essex.
The development offers high quality, affordable homes close to the University of Essex campus and has proved so popular with students that local estate agency, Jackson & Co, was forced to compile a waiting list. Based on the average property prices of available Hawkins Wharf apartments and the average rental charged in the area, landlords in Colchester can expect an estimated rental yield of up to 7%.
The area remains an attractive prospective for local investors who are not only able to fill their properties now but look set to benefit in the long-term from a rising population in the area. A survey by the Office for National Statistics (ONS) listed Colchester as having the highest projected percentage growth in population between 2008 and 2018, making it a prime location to invest in property.
Bob Weston, Weston Homes Chairman and Chief Executive, commented: “The homes at Hawkins Wharf offer outstanding value for money, luxurious interiors, a fantastic location and unspoiled views of the river.
“The exceptional level of specification has proved particularly popular and with a huge demand from students, the development continues to be an attractive opportunity to investors.”
Estate agency and letting agents Jackson & Co are working alongside Weston Homes at the development. Dean Jackaman, Jackson & Co Managing Director, commented: “We have an excellent arrangement with Essex University students and take them very seriously and even encourage their parents to buy rather than rent, as huge savings can be achieved over two or three years.”
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 is set above national average yields on their investment annually.
All homes are finished to the Weston Homes trademark high standard. Kitchens come complete with integrated stainless steel appliances and a choice of designer units and worktops. Sleek modern bathrooms and en-suites offer a haven of relaxation featuring ‘Roca Laura’ wall hung sanitaryware with contemporary chrome taps and heated towel rails. Wooden floors feature throughout halls, kitchens, dining and living rooms in the apartments and ground floor areas of the houses. The luxurious homes also feature Sky+ points in the living areas and main bedrooms.
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 has also been extended and upgraded to accommodate the larger intercity trains direct. The A12 provides a fast route to Chelmsford, the M25 and on to London.
Hawkins Wharf was also highly commended in the Best New Starter Home (large developers) category at The London Evening Standard New Homes Awards 2011.
Prices start from only £123,000 for one bedroom apartments and two bedroom apartments from £150,000. For further information, please contact the sales and marketing suite on 01206 796 950
