Slough development 'ideal for buy-to-let' |
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Slough development 'ideal for buy-to-let'
The recent interest rate rises have failed to dampen investors' demand for property, a residential developer has claimed. Strong rental demand and rising house prices are contributing to the sustained demand for investment properties, according to Linden Homes, which has now sold 46 per cent of its new homes in the Verve development in Slough. The 189 one and two-bedroom properties, which are being redeveloped from a former office and industrial building, offer an ideal investment opportunity, as large numbers of workers are continuing to flood into Slough. At the heart of the regeneration zone and within spitting distance of Slough's train station, the development will include a central piazza, open-air amphitheatre and digital library. Commenting on the market, Linden Homes' chief executive, Philip Davies, said: "The buy-to-let market has continued to thrive over the first two months of the year, with the prospect of further rate rises appearing to have little effect on investor confidence." Mr Davies also revealed that developers are now generally expected to provide a higher quality of build, strong rental guarantees and even furniture packages.
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