Located in Slough town centre, 12 The Grove is in the heart of the £450 million regeneration project, close to the Observatory Shopping Centre, and only 0.8 miles from Slough train station.
Central Slough is already a popular location with both buyers and renters. The Cross Rail due in 2018, along with talks of the tube being extended from Uxbridge to Slough, will only add to this popularity, making central Slough an ideal place for both buy to let investors and commuters alike.
Slough boasts the second largest trading estate in Europe, meaning there is also a strong market for young professionals and families. The owners of The Slough Trading Estate (SEGRO) plan to spend over £600m regenerating the estate over the next 20 years, claiming to create over 4,000 jobs.
In the 2011 census, the population of Slough was 140,200 - up 16.3% on the 2001 Census.
Acquisition and development of a office to residential 3 storey Freehold building for conversion to 20 units plus a new build (STP) 3 storey building for 12 units in the car park.
Brief financial indications
- 48 residential apartments (8,941 sq ft)
- £4.4m Gross Development Value
- (at c. £491/ft)
- £3.7m Gross Development Costs
- excluding finance costs
- £0.7m gross profit
- before finance and distribution
- 69% LTV debt financing is arranged
- on very favourable conditions
- Completion due Autumn 2019