Perhaps it seems staggering that the presence of a premium brand supermarket near your property could add as much as £44,000 to its value. For Strawberry Star, the findings of a recent Lloyds Bank survey simply endorses our belief in the importance of location, particularly when it comes to new builds.
So what are the “other drivers of house prices” that any good developer should consider around an area for development? Our experience tells us it’s about potential. Are there clear signs that this neighbourhood is advancing? Has there been a recent significant investment in the area that will bring about more jobs? If not already in existence, is there the capacity for extra travel links, green areas and shops? Are business districts, schools and airports accessible from here? What is the history for planning applications?
Joint-venturing with a well chosen partner can add weight to your development plans, be it through provision of land, finances or project management. A powerful investment in the area from you will affect the way other potential investors view it, making that brand new Waitrose and all the other amenities you would expect to see in a prospering neighbourhood more of a reality.
Working with your local authority is also key to achieving value adding infrastructure such as transport links. Not to mention building a healthy relationship with the existing community.
Strawberry Star is currently working with stakeholders including CZWG architects and the Greater London Authority on the Hoola building, E16, a significant development in the overall regeneration of London’s Royal Docks area. We are also looking for more development opportunities. So if you are seeking a property investment with potential we would be glad to hear from you.
Mike Songer, Lloyds Bank mortgage director, said: "Our findings back-up the so-called 'Waitrose effect'. There is definitely a correlation between the price of your home and whether it's close to a major supermarket or not."