We believe there is a compelling investment case for residential property in Hayes, in the London Borough of Hillingdon.
Three factors underpin the investment case for the area:
- A Crossrail station is due to open in Hayes in 2018 and our properties are just a 3-minute walk from the station. Crossrail is currently Europe’s largest infrastructure project and JLL, in their report on Crossrail investment opportunities, forecast Hayes to see +41% capital growth between the end of 2014 and 2020.
- In 2013, the council approved the £250m redevelopment of a 17-acre former industrial site. The Old Vinyl Factory, close to the Crossrail station, is expected to deliver 4,000 jobs, 650 homes and 750,000 sq ft of commercial and leisure space in Hayes by 2022
- Hayes, which used to be largely industrial, is on its way to becoming a business and high-tech hub. For example, Boris Johnson, the Mayor of London, has recently allocated £7.7m to help build an incubator focused on 3D printing in Hayes
These points are discussed further below, or you can go directly to our property page by clicking here.
A new Crossrail station
Crossrail is a new high-speed railway line crossing London, running from Reading in the West to Brentwood in the East, and is also Europe’s largest current infrastructure project. The line increases London’s train capacity by 10%.
Hayes will be home to one of the new Crossrail stations. JLL recently issued a report forecasting +41% capital growth within a 750m radius of that station between the end of 2014 and 2020. Our properties are well within this distance.
Once the line is complete in 2018, the journey from Hayes to Canary Wharf will be reduced from 70 minutes to 34 minutes, and the trip to Heathrow Airport from 12 minutes to 5 minutes.
The Council has approved plans to build a large, new Crossrail station immediately to the North of the existing station. The new glass-and-steel station, with a signature large, light ticket hall, is one of the many new buildings due in the area.
A £250m redevelopment
Two large development companies, Development Securities and Cathedral Group, have started work on a major £250m multi-use regeneration project in the heart of Hayes, just 300m from
the station. The site is The Old Vinyl Factory, a 17-acre manufacturing facility formerly owned by the music company EMI.
The scheme was approved in 2013 and will deliver 4,000 jobs, 650 homes and 750,000 sq ft of commercial and leisure space in Hayes by 2022.
A smaller project is currently underway in Station Road and Coldharbour Lane, within close walking distance of our property. The council is investing in a ‘facelift’ in the area around the station and town centre. Improvements include new pavements, brighter street lighting, more trees, seating and cycle racks. The project is due to be completed before Crossrail goes live in 2018.
Transformation from declining industrial zone to high-tech and business hub
Hayes has an industrial past. It was home to factories of firms including Heinz, Nestle and Fairey Aviation. However, it is now on its way to becoming a significant business and technology hub.
Boris Johnson, the Mayor of London, recently allocated £7.7m to build a high-tech manufacturing incubator focusing on 3D printing technology in The Old Vinyl Factory. The incubator comes with a fund to invest in participating companies.
High-tech companies are relocating to Hayes. US wireless music systems company Sonos and global IT firm Champ Cargosystems are among those that have committed to 10-year leases in the area recently and global internet infrastructure company Rackspace have just moved their international headquarters to a 10-acre site near Hayes & Harlington station.