Posted on Tuesday, January 27, 2015

Jones Lang LaSalle (JLL), a professional services and investment management company specialising in real estate, have just released a report called 'Crossrail: Identifying Opportunities'. It is an interesting read and we thought we would pick out some key information that may be of interest to our vendors, landlords and purchasers alike.

The report has the following to say specifically about West Drayton:

“This is a thriving, busy and appealing town, with the train station centrally located. It is within the Heathrow Opportunity Area with the council supportive of development. Commuting times into central London business hubs will be much improved which will broaden the appeal of this location. There are plenty of residential building opportunities, including desirable river locations in or near the town centre. The whole area could benefit significantly from residential and other use development, some of which will be attributable to Crossrail and some due to broader regeneration effects. Crossrail could be the catalyst for gentrification of this area, so the impact of Crossrail is potentially quite high both in the short and long-term.”

The report compares each of the stops along the Crossrail route and below are some of the key facts relating to West Drayton:

  • West Drayton is, overall, one of the top four 'winners' from Crossrail.
  • JLL’s 'Price Growth Forecast Score Due To Crossrail', shows the impact on West Drayton as likely to be the 3rd greatest of all the Crossrail stops, scoring 7 out of 10. This is as a result of broad regeneration effects, development due to Crossrail and the greater attractiveness of the location.
  • The 'Total Price Growth Forecast Score' places West Drayton in 2nd place of all the Crossrail stops, scoring it 9 out of 10. This score combines the base price forecast and the Crossrail and regeneration scores.
  • The 'Total Price Growth Forecast' suggests that West Drayton will experience a 51% price increase from the end of 2014 to the end of 2020 which equates to an average of 7% per annum. This is the 3rd highest percentage change of all the Crossrail stops.
  • The 'Overall Buy to Let Score' for West Drayton is 7.5 out of 10 putting it in 4th place of all the Crossrail stops. This score combines a number of factors including the price growth forecast, rental growth forecast, the desirability to develop for rent and build to rent risk scores.
  • West Drayton’s 'Rental Growth Forecast Score due to Crossrail' is a strong 7 out of 10, placing it joint 4th of all the Crossrail stops. This impact score factors in the impact of broad regeneration effects, development due to Crossrail and the greater attractiveness of location.
  • When you factor in baseline growth, West Drayton gets a 'Total Rental Growth Forecast Score' of 6 out of 10 placing it joint 5th in the league table of Crossrail stops. This factors in the base growth forecast and the Crossrail and regeneration scores.
  • The 'Total Rental Growth Forecast' from the end of 2014 to the end of 2020 is about 34% equating to about 5% per annum.

The report also highlights some interesting information on the travel time improvements it will deliver to West Drayton based upon a typical morning commute journey time:

  • West Drayton to Paddington – about 20 minutes (a saving of about 3 minutes)
  • West Drayton to Bond Street – about 23 minutes (a saving of about 18 minutes)
  • West Drayton to Liverpool Street - about 31 minutes (a saving of about 23 minutes)
  • West Drayton to Canary Wharf - about 37 minutes (a saving of about 23 minutes)
  • West Drayton to Heathrow - about 14 minutes (a saving of about 9 minutes)
  • There are to be a proposed 6 trains per hour.

Crossrail

So all in all the report is very positive about the impact of Crossrail on West Drayton. Take a look at the findings in more detail at http://goo.gl/3tRVsW.