PARK CRESCENT LUTON LONDON The best of both worlds.
Contents About Luton... 3 Five reasons why Luton is flying high... 4 Accessibility and travel times... 5 Luton to London in 23 minutes... 6 Luton airport... 7 Office and retail space... 8 Luton - culturally diverse... 10 Luton inward investment... 11 Education and employment... 12 University of Bedfordshire... 13 Neighbour to the countyside and capital... 14 London - a leading global city... 15 London - where the world comes to shop... 16 Park Crescent... 17 Park Crescent - key points... 18 Luxury living and education... 19 Luton map key locations... 20 Development interiors... 22 Floorplans... 24 Investment snapshot... 26 Investment Sales & Rental returns Market... 27 Sales Offmarket & Rental team Market... 28 Offmarket team... 29
About Luton Luton is a large town located in Bedfordshire, 30 miles north of London and 22 miles south of Milton Keynes. Luton Airport is the fifth busiest airport in the UK. Luton is also home to the University of Bedfordshire, this outstanding academic facility boasts over 24,000 students. Direct rail links take you from Luton to London in just 23 minutes, making the town attractive to both the local people and increasingly those wishing to leave London to commute to and from the Capital with ease. The Luton International Carnival - the largest one day carnival in Europe - attracts visitors from all over the world. The Chiltern Hills - An area of outstanding natural beauty. Other attractions neighbouring Luton include: Whipsnade Zoo, The Chiltern Hills, Dunstable Downs, Someris Castle and Woburn Safari Park. 3
Five reasons why Luton is flying high London Luton Airport Headquarters for EasyJet and Ryanair, Luton Airport has become the new powerhouse for Luton s prosperity and jobs. Communications Luton enjoys outstanding infrastructure for motorways, rail, air and IT. Key Employers An excellent location attracts global industries such as Astra Zeneca, General Motors and BAE systems. Setting The adjacent rolling greenbelt Chilterns countryside on the doorstep of Luton. Skilled People A diverse and skilled workforce backed by excellent colleges and university. 4
Accessibility and travel times Luton commuters enjoy easy access to central London with excellent road, rail and air links. Recent work has reduced congestion greatly on M1 motorway. This has significantly improved journey times for motorists. Luton is just a short drive from both the M25 going south and the A1 going north. Luton boasts three dedicated railway stations. Luton, Luton Airport Parkway and Leagrave. From 2020 the improved rail services in Luton will cut journey times significantly from Central London to the Airport terminal to around 30 minutes making Luton Airport quicker to access to and from Central London than Stansted or Gatwick. Trains run 24 hours a day. Luton - St. Pancras Luton - Farringdon Luton - Blackfriars 23 mins 35 mins 45 mins 5
Luton to London in 23 minutes Luton is only 30 miles North of London, taking only 23 minutes to get to central London by train, living a more rural lifestyle with luxury built in. London is a leading global city with many strengths in art, education, fashion, entertainment and many more and is one of the most visited cities in the world. This is not surprising as the city contains four World Heritage Sites, The Tower of London, Kew Gardens, the site where Westminster Abbey, Palace of Westminster and St Margaret s Church sits and the historical town of Greenwich which houses the Royal Observatory. As well as a plethora of other attractions including the London Eye, Buckingham Palace, Tate modern plus many more. LUTON 23 MINUTES LONDON 6
London Luton Airport was the fastest growing airport in the UK in 2015 and is currently the 5th busiest airport in the UK employing 9,000 people. The airport is undergoing major investment to increase capacity by 50% to 18 million passengers, which will create an extra 10,000 new jobs and add 1 billion to the UK economy. In the last 12 months four new The Chilterns airlines joined the airport and 20 new routes were launched. 7
Offices and Retail Space Butterfield Business Park Planning consent for 1 million sq.ft. of commercial office space. Phase One recently completed with 250,000 sq.ft built. Capability Green and Butterfield Business Park are attracting new businesses to the area. The Mall Circa 1 million sq.ft. dominant community shopping centre in the heart of Luton with 122 retailers providing an extensive and contemporary shopping experience. With 21.3 million visitors and 227 million gross sales each year, The Mall was recently ranked 24th top shopping centre in the UK (Trevor Wood Associates). Major stores include Debenhams, Boots, Primark, H&M, Tesco, Marks & Spencer, TK Maxx and Wilko. The Mall Luton is owned and managed by Capital & Regional, a UK focused specialist property REIT with a strong track record of delivering significant value enhancing retail and leisure asset management opportunities. 8
The Mall Shopping Centre One million sq.ft 9
Luton - Culturally Diverse Luton has a culturally diverse background, with people from many different walks of life. A truly multicultural town, Luton is a melting pot of different people, religions and languages. Luton s population is now 214,700, an increase of 3,700 between 2014 and 2015 which is a growth rate of 1.8%. This is faster than the national growth rate of 0.8%. In 2012 London had an official population of 8.3 million, making it the most populous municipality in the European Union, and contributing to 12.5% of the UK population. 10
Luton Inward Investment 1.5 billion A 1.5 billion inward investment programme was announced for Luton in 2015. This 20 year investment programme will create over 18,000 jobs. A selection of current major developments in Luton include: Napier Gateway - Mixed use development with public piazza, public realm, residential, hotel, retail and leisure space. 20/20 Developments - 150m Mixed development including a new stadium for Luton Town Football Club. London Luton Enterprise Zone - 395 acre Enterprise Zone. Butterfield Business Park - Over 1 million sq. ft Commercial and Hilton Hotel Development. High Town - Major Town Centre regeneration project. The Mall Shopping Centre - 1 million sq. ft Retail development. Luton Cultural Quarter - Major investment in the Arts. Mass Passenger System - The programme is kickstarted by 200 million being spent on the new Mass Passenger Transit System. Only found in major international airports around the world, this system will transport passengers from Luton Airport Parkway Railway Station to the actual airport terminal. 11
University of Bedfordshire Situated just minutes from the University of Bedfordshire the site is perfectly positioned to service the local student population. 24,000+ students 100+ countries represented 2,000 study bedrooms 34% of students aged over 25 years 76.3% of our students received financial support from the University in 2010/11 10 research institutes 180 Million invested in facilities between 2006-2013 300 Million annual contribution to the local economy 13
Neighbour to the Countryside and the Capital Luton is located just north of London boasting a rail journey time of just 23 minutes between Luton and London St Pancras International Rail Station. This modern town is well serviced by recent upgrades to the motorway network and is 5 minutes from Junction 10 of the M1. Surrounded by the Chilterns, an area of outstanding natural beauty, Luton also offers easy access to some of the UK s best and most loved countryside. Living and investing in Luton truly offers the best of both worlds. 14
London - A leading global city for business and education London is a leading global city, with strengths in the arts, commerce, education, entertainment, fashion, finance, healthcare, media, professional services, research and development, tourism and transport all contributing to its prominence. It is the world s largest financial centre and has the largest city GDP in Europe and the capital is also home to the headquarters of more than 100 of Europe s 500 largest companies. Heathrow is the world s busiest airport in terms of passernger numbers and London boasts the most International visitors of any city in the world. London s 43 universities form the largest concentration of higher education institutions in Europe. 2012 saw London become the first city to host the Summer Olympic Games three times. 15
Where the world comes to shop - London From Oxford Road to Covent Garden market, some of the most iconic shopping venues and world famous stores like Hemleys, Selfridges and Westfield, are just a short commute away from Luton. Harrods - The world s most famous store. 16
PARK CRESCENT 17
PARK CRESCENT 23 minutes from London Affordable Luxury Apartments from 148,000 Perfect Investment Opportunity 18
PARK CRESCENT Luxury living and education at affordable prices A former government office building is being transformed into a new vibrant place to live in the centre of Luton. Park Crescent residential development is just 400 metres from Luton Rail Station and is adjacent to The University of Bedfordshire Luton campus. The four storey building boasts 42 beautifully designed, high specification, one bedroom and studio apartments. The ground floor is set aside for commercial purposes. The exterior is being completely remodelled with the introduction of new windows and doors and the whole façade covered in an intricate system of insulated coloured renders. 19
LUTON LUTON The Mall M University of Bedfordshire Campus PARK CRESCENT LUTON AIRPORT PARKWAY 20
ST M AR Y S RO AD M University of Bedfordshire Campus University of Bedfordshire Campus ST RE ET PARK CRESCENT 5 RK 50 PA A The Mall 21
PARK CRESCENT LUTON LONDON Interiors 22
Interiors PARK CRESCENT LUTON LONDON 23
Apartment Floorplans Typical Apartment 24
Typical Studio Apartment 25
Investment Snapshot Figures suggest that property prices in the South East of England are increasing at a faster rate than in the Capital as the demand to live in commuter towns surrounding London soars. The International Business Times rated Luton in the top five of the UK s highest growth areas and recent research suggests that Luton is seeing rents increase at four times the rate as London, as rental growth in the city is pushing people out towards commuter belts. In 2015, house prices in Luton increased by an impressive 18.5%, with the price of an average semi-detached house increasing by 40,000 since the previous year. Average rents in the area increased to 722, which was an impressive increase of 10.4% from 2014. Luton is a failsafe area for Buy-to-Let investors to look into with house prices predicted to climb by an astounding 41% over the next five years. Luton is set to become a new commuter belt hotspot and a residence at Park Crescent offers an exceptional opportunity to add to your Buy-to-Let portfolio. 26
Sales demand Property in Luton is in incredibly strong demand as families and commuters target its relatively affordable homes due to its close proximity to London. The Office for National Statistics recorded record growth of 21.8% in 2016, the second highest house price growth in the whole of the UK. Rental demand The International Business Times rated Luton in the top five of the UK s highest growth areas. Rents in Luton are increasing four times faster than in the capital, as rental growth in the city is pushing people out towards commuter belts. In 2015, landlords saw their property investments thrive as on average, rents in the area increased by 10.4% from 2014. Property in Luton is in strong demand as families and commuters target its relatively affordable homes given its close proximity to London Source This is money - August 2016 Sales & Rental Market 28