Brand new Luton development revealed
One of the most exciting times for a property investment company is finally being able to reveal a new development that you’ve been working on behind the scenes for the past few months. As such, the Surrenden Invest team were delighted to share details of The Orion in Luton with our community of investors earlier in May.
“It’s a great time to re-discover the London commuter belt in terms of its investment potential right now. Luton in particular has a clear investment case, which is why we have chosen it as the site for our latest development – The Orion. Providing stylish, spacious homes for professional tenants, The Orion is one of those developments where everything is just right, from the location to the design to the timing.”
Jonathan Stephens, MD, Surrenden Invest
The Orion is home to 67 luxurious apartments, comprising a mix of one- and two-bedroom homes, just a two-minute walk from Luton railway station. Due for completion in Q4 2020, the apartments are priced some 10% below comparable properties on the market.
Their location is a key feature of The Orion’s homes. Commuters can get from Luton to London St Pancras in as little as 22 minutes by direct train. Those travelling abroad, meanwhile, can connect to a range of international destinations at St Pancras, or undertake the 10-minute drive from The Orion to London Luton Airport in order to travel onward to Europe, Africa and the Middle East.
“The Orion will be Luton’s joint-tallest building once complete. The homes within will certainly befit this stature, offering high-end specifications designed with ambitious professionals in mind. Luton is in the grip of a sustained housing shortage, so these much-needed homes will be highly prized by local renters, whether they’re working in Luton itself or commuting into London.”
Jonathan Stephens, MD, Surrenden Invest
Luton’s house prices have grown by 1.6% over the past six months, despite price corrections in many parts of London and the surrounding area over the past year or two. Over the past five years, Zoopla reports a rise of 39.92%. The town’s affordability has been key to keeping its market buoyant. The average home there is priced at £239,800 – almost half of the London average of £473,822. At the same time, Luton’s rents are projected to rise by 8.9% over the coming five years, which is excellent news for those investing in Luton buy to let property.
