Olympic zone offers attractive opportunity
The vast transformation of the Stratford area of East London and the huge investment in its infrastructure is fast making London’s Olympic zone a highly sought after area for professionals seeking rental property. The newly launched Stratford Halo offers investors an attractive investment opportunity with strong rental yields. This iconic development overlooking the London Olympic Stadium is the latest exciting addition to the East London property market, where high quality homes are now available to purchase off-plan from Genesis.
The Stratford Halo occupies a prestigious position at the entrance to London’s 2012 Olympic Park and includes a 43-storey tower which is set to become one of the top ten residential towers in London. The development is situated in one of London’s best-connected locations, at the heart of the massive multi-billion pound Olmypic regeneration zone, close to the new Westfield Stratford City shopping centre. The area has some of the most ambitious new mixed-use developments in the country, confirming the lasting changes to the fortunes of the area and its property sector.
Stratford has a strong rental market particularly among professional people who want to be in easy reach of employment hubs such as Canary Wharf and the City. Typical rental yields in the area stand at 5 to 5.5%, representing a better return for the investor than many cash or equity investments. Rental yields in London and the South East are the highest in the UK according to figures from FindaProperty.com’s latest rental index . Property prices in East London have risen by 25% since 2005 and ongoing investment in the area is predicted to give rise to continued uplift in values.
The Stratford Halo comprises a total of 704 new homes across five buildings, as well as retail, commercial and leisure space and workspace studios. Of the 410 homes available for private sale, there is a range of one, two and three bedroom apartments and duplex penthouses, many of which benefit from views towards the Olympic stadium, Canary Wharf and beyond to the City of London skyline. The tower, which rises to over 132 metres, is lit at night-time in a fusion of colours through the use of a feature light system, creating a prominent local landmark.
The apartments offer spacious and flexible living space finished to a high specification. Security is a priority, with video entry systems, CCTV, a 24-hour concierge and secure, private underground parking available. Situated in a peaceful riverside location, residents have the use of various outdoor spaces including a landscaped courtyard and a new park as well as three sky gardens within the tower itself.
Stratford now has some of London’s best public transport links meaning a speedy commute into Central London, the City and Canary Wharf. It is served by the Jubilee and Central lines on the London Underground, the Docklands Light Railway and over land rail services, including the High Speed domestic rail services that will allow commuters to travel into Central London in just seven minutes. In the future, Stratford will have a station on the Crossrail line and Eurostar international services to Paris and Brussels will stop here.
Simon Howard, Head of Sales at Genesis comments: ‘East London property has already seen a strong appreciation in value since London was awarded the Olympics and this trend is set to continue as the area is developed further. The local rental market is buoyant with many professional people wanting both to take advantage of Stratford’s excellent transport links, as well as live in a buzzing neighbourhood enjoying the Olympic spotlight. The improved long-term prospects for Stratford make it an attractive choice of location for buy-to-let investors.”
Prices at the Stratford Halo start from £249,950 for a one-bedroom apartment, £310,000 for a two-bedroom apartment and £380,000 for a three-bedroom apartment. Prices for homes in the tower start from £272,500 for a one-bedroom apartment, £330,000 for a two-bedroom apartment and £495,000 for a three-bedroom apartment. For further information, visit stratfordhalo.com.
