Residential developer Barratt London in the UK reported that British Prime Minister Rishi Sunak paid a visit to its Hayes Village regeneration project to make an announcement about an additional £200 million in government support for the construction of new homes on brownfield sites in London. Rishi Sunak was given a tour of the project that converted a vacant Nestlé industrial site into homes.
Prime Minister Rishi Sunak To Invest In Barratt London Project
The prime minister has been to Hayes Village twice — the first time was when he served as chancellor during the Covid-19 pandemic. At the time, there were no consumers at Hayes Village, but today the building is over half sold.
The area is a choice for Indian investors, who select London real estate mainly because they believe it to be a safe and profitable investment. One of the main causes of the surge in Indian real estate investment is the increase in students studying in the UK. And another is the market performance and consistency over the previous few decades.
The British Prime Minister made an announcement regarding the UK Government’s plans to encourage home construction in London during his most recent visit. He emphasised the need of making the most of brownfield developments near London Underground stations.
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Hayes Village And Its New Housing
Only a 10-minute walk from Hayes & Harlington station, Hayes Village will have 1,473 new homes, a community centre, nine acres of parks and gardens, retail, office, with leisure facilities. Additionally, it will also have a new footbridge across the Grand Union Canal.
According to the PM, home ownership is a dream that everyone strives to achieve. He further states that receiving the keys to your own home is a special feeling. However, many are unable to fullfil it. As a result, he is stepping in to encourage home construction in the capital. That includes investing £200 million into developing abandoned brownfield land. According to Barratt London, Hayes Village is a prime location for foreigners looking to buy property.
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The property, where new houses start at ₹3.5 crore, offers excellent value for money with predicted capital growth of 19 per cent over the next five years and anticipated rental returns of up to 5.9 per cent.
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