How thriving UK tech has transformed Slough investment
The UK tech sector is expanding 2.6 times faster than the wider UK economy according to TechNation, delivering £130 billion in revenue for the country. At a time when London is continuing to see declines, this thriving technology sector has helped elevate regional cities and commuter towns to new heights. A major benefactor of this growth is Slough, which is reinforcing its position as a key investment location and has seen property price growth of 45% over the last ten years.
Established as a top destination for both London renters and commuters, research by Countrywide[1] shows 46% of homes in Slough are let to people leaving the capital. Providing a mix of affordability, exceptional employment opportunities through the rising tech sector and unprecedented regeneration, Slough is using the momentum of commercial success to transform its landscape.
Slough’s exceptional price growth has always been affected by its proximity to London. Consider that the average property in Slough costs £378,945, much lower than the current London average of £626,102, yet still maintains direct access with the capital and the opportunities it can provide.
As a commercial powerhouse, Slough is a key part of the ‘traditional commuter belt’ that has seen prices rise by 313% over the last 20 years. In the TechNation report[2], Slough ranked 4th in terms of productivity for local tech ecosystems and has experienced the second largest increase in ‘digital startup births’, with a 536% increase over the last decade.
Home to the headquarters of global companies such as O2, ATCORE and Avco Systems as well as Advanced Computer Software, the third largest enterprise software company in the UK, Slough’s commercial landscape is comprised of over 5,400 businesses. With many of these businesses ingrained within the tech sector, it’s no coincidence that as UK tech has flourished, Slough has felt the benefits.
Thanks to the strength of the sector and the large cluster of highly-skilled workers within the South East, Slough is perfectly positioned to take advantage of multiple avenues of tenant demand. This allows the town to serve an ambitious professional workforce while offering connections with London and Heathrow Airport, located just 30 minutes away.
Slough is transforming the landscape to meet this increased demand through regeneration, creating brand new amenities and transport links. The redevelopment, supported by projects such as Slough Urban Renewal (SUR), is helping cement Slough as a savvy investment opportunity with game-changing developments such as The Centre and The Curve leading a wider plan that will inject £1 billion into the town.
It’s this vision that is ensuring Slough remains at the forefront of the London commuter belt. As infrastructure developments such as Crossrail help expand access across the South-East, the town is continuing to maintain around 68,000 jobs that contribute £9 billion to the economy, making it the third most productive town in the UK.
Slough: The Next Investment Hotspot?
As you’d expect then, Slough’s success has made it a top destination for both investors and tenants. For the investor that wants a new market outside of the traditionally popular London, Slough is demonstrating clear investment potential boosted by an exciting pipeline of redevelopment – a pipeline that includes New Eton House.
New Eton House is a landmark residential development for Slough developed by SevenCapital. Perfectly positioned to take advantage of the town’s thriving technology sector, New Eton House is comprised of 58 boutique apartments specifically designed for a new era of residents. As part of Slough’s renewal plan, New Eton House will meet the needs of the rapidly-increasing tenant demand sweeping through the town.
Andy Foote, director of SevenCapital, believes that New Eton House will be a refined, sophisticated addition to Slough’s address book:
“We’re really excited to bring New Eton House to the market, we’ve done our research, spoke to the lettings agents and the estate agents and they tell us there’s a gap in the market for the executive tenant – those tenants that want somewhere that has been designed with luxury, a hotel boutique feel and that’s what we’re doing with New Eton House.
“It’s an impressive building in a fantastic location, experiencing outstanding growth driven by the tech and commercial companies that are in the area. Its internal infrastructure and external aesthetic will form great foundations for a first-class apartment development, that we believe Slough is calling out for.”
Designed as a haven for a new era of resident, New Eton House features 58 beautiful apartments available for purchase. Discover the development that is creating a new standard of living for the executive resident – New Eton House.
[1] https://www.countrywide.co.uk/news/2017/lettings-index-october-2017/
[2] https://technation.io/insights/report-2018/
