‘Landmark’ BTR scheme launched in North Acton-Park Royal regen zone

One of London’s leading independent estate agencies has launched NWX Residences, a landmark Build to Rent (BTR) scheme developed in partnership between Notting Hill Genesis and Oakfield.

It provides more than 200 newly-built apartments, set within the Oaklands Rise mixed-use development, part of the North Acton-Park Royal Regeneration Zone, which is being described as the capital’s ‘New West End’.

Dexters says the launch of the NWX Residences scheme underlines its strength in London lettings and particularly in the fast-growing BTR sector, where the firm insists it is the leading ‘one-stop-shop’ for landlords. The agency says it takes care of the whole process, from marketing to launch to managing the fully occupied building.

The latest scheme is designed by CZWG Ltd, an award-winning architectural practice run by Piers Gough and Adam West, and offers a selection of one and two-bedroom apartments, all with balconies, in two new buildings, Ambrose House and Easton Court.

The apartments come complete with ‘impressive rooftop gardens,’ providing ‘spectacular views’ across London, as well as ‘stylish’ entrance foyers and high-speed passenger lifts to all floors.

The BTR apartments at NWX Residences are available to let unfurnished or furnished, with tenants able to choose from BoConcept furniture package options in order to dress their apartments.

Tenants can choose from three different furniture packages, with optional upgrades available for additional accessories and statement furniture pieces.

Where is the scheme?

The NWX Residences are located in North West London in the NW10 postcode, explaining the marketing name for the development. It forms part of the wider Oaklands Rise mixed-use development which is made up of over 600 newly-built apartments, including shared ownership.

As well as the residential offer, there is NWX Works, offering mixed-use commercial, retail and proposed leisure space such as an on-site gymnasium/health club, café, nursery and dentist/GP surgery. NWX Works is also set to include state-of-the-art, open-plan workspace delivering a ‘collaborative and vibrant business environment’.

Oaklands Rise is a part of the North Acton and Park Royal Regeneration Zone, also known as the Old Oak Common Regeneration Area of Willesden – which, once complete, is set to provide more than 45,000 new homes and commercial facilities. This, in turn, would create a ‘New West End’ for London aimed at younger households who choose to either rent or have shared ownership properties.

Dexters points out that the BTR and shared ownership homes in the Old Oak Regeneration Zone appeal most to London’s growing population of young Generation Zers, those people born between 1997-2005, who are currently aged between 16 to 24, and the much-talked about millennials, people born between 1980-1994 who are now aged between 27 to 41.

This next generation of Londoners, who include young professionals, singletons, young couples and key workers, often prefer to rent rather than buy, Dexters says.

Ready for immediate occupation, all the apartments at NWX Residences aim to offer a spacious living and dining area, opening onto an outside balcony, with an open-plan or galley kitchen located off the main living area. In the larger apartments, the principal bedroom suite has an en suite bathroom and there is also access to a main bathroom.

The apartments are finished to a high specification with features such as WiFi for up to 150MB downloads, with upgrades available to 1GB high-speed downloads. There are also bespoke design kitchens with integrated appliances, wood strip flooring to the kitchen and living room, and carpeted bedrooms.

Dexters insists that the BTR sector is forecast to grow dramatically in London over the next few years. The British Property Federation, which tracks the sector closely, predicts the BTR market will grow by 30% per year over the next few years and, by 2025, the UK BTR industry will have an estimated valuation of £75 billion.

Currently, there are over 14,800 completed and tenanted BTR properties in London, with nearly 20,000 in the construction or planning pipeline, in a city with over 3.56 million dwellings in total, underlining the huge growth potential of the sector.

Lee Liasi, managing director at Dexters, said: “The launch of the new NWX Residences BTR apartment scheme within Oaklands Rise is part of the ongoing creation of London’s “New West End” in the North Acton-Park Royal Regeneration Zone. Available to let unfurnished or furnished, the apartments are ideal for the next generation of Londoners – the so-called Generation Z and millennials – who often prefer to rent rather than purchase and include young professionals, singletons, young couples and key workers.”

The NWX Residences scheme is located midway between Willesden Junction and North Acton stations, with Willesden Junction providing strong transport links into Central London and beyond via the Bakerloo Line and London Overground services, whilst North Acton is on the Central Line and Overground.

The NWX Residences are available to let through Dexters at prices starting from £1,400 per month for a one-bed and £1,650 per month for a two-bed.