In the latest of our blog series on regeneration projects and their impact on local property markets, we take a look at Maidenhead’s landmark £250 million The Landing scheme.
What is The Landing?
Unanimously approved by the Royal Borough of Windsor and Maidenhead in September 2015, The Landing project will see the redevelopment of a key site in the town centre.
The initiative aims to deliver an impressive new gateway for Maidenhead, comprising 600,000 sq ft of new offices, retail space and residential property. Set around an extensive central plaza, the development will provide up to 225 new housing units for the Thames Valley town.
The Landing is due to be completed in 2019 in time for the arrival of Crossrail services, which will cut the journey time into central London to just 40 minutes.
What do the plans include?
Located just 100m from Maidenhead’s future Crossrail station, The Landing will incorporate:
- 260,000 sq ft of Grade A office accommodation designed with global companies in mind
- up to 225 new residential units of one, two and three bedrooms offering generous space, balconies and roof terraces
- 48,000 sq ft of retail space, including new restaurants, cafes and bars
- new pathways to improve access to the railway station, Nicholsons Shopping Centre, High Street and town centre
- a central public space known as Lantern Circus, boasting a public art centrepiece and ringed by shops, cafes and bistros
Alongside The Landing, work is also underway to revamp Maidenhead’s waterways, with the goal of restoring and enlarging the town’s previously neglected channels to make them accessible and enjoyable to all. New developments such as the Chapel Arches office and residential scheme are already taking advantage of the rejuvenated waterways.
How will the town centre regeneration affect Maidenhead?
The various regeneration initiatives will have a significant impact on the town as it appears today. The Landing will substantially improve the aesthetics of the 3.3 acre Broadway area, while the arrival of Crossrail will enable residents to travel to the heart of London and beyond without the stress of changing lines and modes of transport.
While the work is focused on the town centre, it will have a major impact on the whole of Maidenhead and the surrounding areas. As not everyone wants to live in the centre of a town, many will opt for the leafier suburbs or more rural locations that will still benefit from the new public spaces, services and transport links on offer.
The effect of the regeneration on property prices
There will be a positive impact on property prices as the range of facilities and services improve further. Aesthetically, the look of the town centre will also improve, making it a more appealing area to spend time.
The various regeneration schemes are not just about building work, but also the development of the waterways, which will appeal to many current and future residents.
Buying and selling during Maidenhead’s regeneration
If you’re thinking of selling a property in Maidenhead, it would be better to do so now than when the regeneration work and Crossrail development are completed. Prices are increasing and should continue to do so, including properties close to the Crossrail line. This means taking a step up the ladder will become harder the longer you wait, as the price gap between your existing home and the one you wish to buy will continue to widen.
Similarly, if you’re planning a move to Maidenhead, you would be best advised to look at houses and apartments now. Simply put, you might not be able to afford to move later as the prices continue to increase. Strike while the iron’s hot and make sure the price increases are to your benefit, not someone else’s.
However, you shouldn’t expect to snap up an absolute bargain while regeneration work is ongoing. Buyers, investors and particularly first-time buyers want to purchase now rather than wait until all of the construction works have been completed.
If you’re interested in selling or buying in Maidenhead, and would like to explore your options, contact our local branch for expert advice from our team of estate agents.
Correct at time of publication. The views and opinions expressed herein are those of the individual contributor and do not necessarily reflect those of the Chancellors Group of Estate Agents Ltd or its subsidiaries. References to legislation, best practice and other matters with legal implications such as fees, rules and processes are included for information and editorial purposes only and are not authoritative, nor should they be interpreted as advice. When in doubt you should only take advice from an industry professional or solicitor where appropriate. E&OE.
