New road tunnel will boost BTL opportunities
Buy-to-let investors with an eye on long-term profits will be aware of a new £6 billion road tunnel under the Thames that will connect Kent and Essex.
The Lower Thames Crossing is set to be the largest single road project in Britain since the M25 was completed more than 30 years ago, and will bring thousands of new jobs and homes into the area.
Due to open in 2027, the route is expected to provide more new and affordable homes for commuters into London and ease congestion for those who drive to work in the nearby towns of Dartford in Kent and Grays in Essex.
Bob Weston, managing director of Weston Homes, said: “Any infrastructure project of this nature will increase economic development multiple times.
“There are big plans on the Kent side and I am certain we will see several thousand new homes delivered.
“This cannot come soon enough. The traffic is a nightmare every day for the people of Dartford.”
Weston Homes is building 750-home Langley Square, a waterside scheme of one-, two- and three-bedroom apartments.
The one-bedroom flats start from £221,000 and two-bedroom homes from £293,000.
As the affordability crisis continues to affect Greater London and the home counties, a handful of developers have requested research on the county as they consider building new homes in the Garden of England.
“Kent is cheaper than some of the other home counties such as Surrey or Hertfordshire and has a good mix of affordability, access to London and choice of schools," said JLL's Nick Whitten.