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London Square offers deposit boost at top commuter destination Watford

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Watford has achieved top ranking as one of the UK’s top commuter destinations, reflecting the excellent lifestyle on offer, employment opportunities, quality education, extensive green spaces and first-class transport links, according to an exclusive research report commissioned by award-winning developer London Square. 

The analysis is by Dataloft, the UK’s leading property market intelligence company,  and is revealed as the developer launches a special Homebuyers Event, offering an exciting incentive of a 5% deposit boost at London Square Watford, a stylish collection of one and two bedroom apartments in a gated development in a convenient and popular residential location just two miles from the town centre.

The deposit boost is an opportunity to save up to £25,000 on your purchase, whether you are a first time buyer or a home mover. At the event on Saturday 18th June from 12 noon to 4pm at London Square Watford, a financial advisor will be on hand to answer any question you may have and to help you find the best mortgage to suit your needs.

For example, if the purchase price is £325,000, you will need a 10% deposit of £32,500. London Square will contribute a 5% deposit of £16,250, making your total deposit £48,750. A similar scheme was on offer at London Square Tadworth Gardens in commuter Surrey and, as a result, more than 41 % of buyers took advantage of the incentive while it was available and used the deposit boost to secure their new home.

Jo McDonagh, Group Sales and Marketing Director, London Square, said: “Our 5% deposit boost offer is an effective way of helping buyers to support their budget to purchase a new home – and it is available to all buyers, unlike other schemes such as Help to Buy, which is designed to help first time buyers. Watford is a flourishing town, with great commuter and transport links, and our development offers well-designed homes of the highest quality to appeal to a wide range of buyers.”

With striking contemporary design, attractive brick facades and pitched roofs, London Square Watford is designed to blend in with the more traditional lower rise homes in the area. The apartments are light and spacious, with high specification and detailing, sleek kitchens and generous open-plan living areas providing flexibility for working from home or relaxing. Most of the apartments have private outside space, with communal landscaping for residents to enjoy. There is private, gated parking for selected apartments and cycle storage. The development is close to excellent transport, with fast train links to central London taking 23 minutes and with good major road links including the M1 and the M25 nearby. London Heathrow is both just over a 30-minute drive. 

The development has a low service charge of £1,410 pa for a one bedroom apartment and £1,445 pm for a two bedroom apartment. It is energy efficient, with communal solar panels and no gas.

According to the Dataloft report, 45 per cent of people moving to Watford come from London. The region has a predicted price growth of 17 per cent from 2021 to 2025, compared to 12.6 per cent across London. Annual price growth of 6.6 per cent was achieved from March 2020 to March 2021, exceeding outer London (6.1 per cent) and Hertfordshire (6.4 per cent). 

For investors, the town has a young and dynamic rental market, with two-thirds of tenants are either single occupants or couples aged between 20-39. Analysis by the Imagine Group, the appointed selling agents for London Square Watford, shows that a one bedroom apartment would have a rental income of around £1,200 pcm and a two bedroom apartment would command a rent of around £1,550 pcm, with yields of up to 4.5 per cent.

The Dataloft analysis showed that Watford was chosen as the happiest place to live in the East of England, and ranked the top commuter location outside of London. The report highlights its excellent transport links, high quality digital connectivity, a buzzing retail and café vibe, sports facilities and competitive property prices. The report states: “Watford is well placed to offer the best of both worlds as lifestyle and working cultures adapt in the wake of the pandemic.” 

Regeneration funding of £1.5bn is currently funding the expansion of employment, businesses and transport in the town, with Watford junction being developed as a strategic transport hub. An £180m expansion of its central shopping centre will elevate the town into the top 20 of UK retail destinations. Close to 15,000 homes are planned by 2036, with over 150,000 employment opportunities within a 30-minute commute. Major employers in the area include KPMG, Warner Bros, Camelot, Hilton, Ralph Lauren and Europcar. 

Watford performs well on the educational rankings, with 30 per cent of schools ranked OFSTED Outstanding, with grammar schools and a wide choice of independent schools available. The Universities of Hertfordshire and Bedfordshire are both within a 30-minute drive and cater for over 38,000 students, while three of the UK’s top five universities – Imperial, UCL and the London School of Economics – are accessible by fast trains to the capital. 

Over one-fifth of the land area in the town is classified as ‘public green space’, with the majority of households within 400m of a public park or garden. The 190-acre Cassiobury Park is twice the size of London’s Hyde Park and is one of 12 award-winning outdoor locations across the borough. There are nine ‘green’ corridors, providing an abundance of cycling opportunities, with over 7,000km of cycle routes available. 

Prices from £299,995 for a one bedroom apartment and two bedroom apartments from £399,995. Book your place at the Homebuyers Event by calling London Square on 0333 666 01110 or www.londonsquare.co.uk Move in from winter 2022.