New £40m Redhill development to trigger property market growth

Wed 12 Aug 2015

Redhill’s property market could become busier and more lucrative than ever once a £40 million redevelopment scheme becomes a reality.

The project to revitalise the town centre is moving ahead and a number of major brands have already secured restaurant and retail units within the planned complex.

In addition, the scheme includes the creation of 94 new apartments, all of which are due to be completed by 2018 and will add important stock to Redhill’s property market.

Jean Carter, branch manager at Leaders in Redhill, believes the major investment will have a positive impact on the sales and lettings markets in the town.

“I anticipate Redhill becoming one of the south-east’s buy-to-let hotspots in the next two to three years, as investors rush to secure these high-quality apartments in a prime town centre location. This, in turn, will generate more supply for tenants seeking a new rented home,” she says.

“It should also have a positive impact on demand for properties in the area, helping to push house prices higher and generating a busy market.

“The scheme - including shops, restaurants and residential properties - will be good news for the town as a whole, helping to attract more people to the area and encouraging them to set up a home here.”

CoPlan Estates has already been chosen by Reigate and Banstead Borough Council as its development partner and the precise outline of the site - covering the land currently occupied by Marketfield Way car park and shops at 18-44 High Street - has been confirmed.

Jean continues: “It is a large site close to the train station and one that has the potential to completely change the look of Redhill.

“Easy access to London by road and rail is one of many benefits of living in Redhill, and I expect the new properties to be extremely sought-after among commuters in particular. It takes less than 30 minutes to reach London by train and buyers and tenants can typically get more for their money in the town than in other commuter spots.”

For more information on the scheme or for advice you can trust on all areas of sales, lettings and buy-to-let, please contact Leaders in Redhill by clicking here.