In anticipation of next summer’s opening of Oxford Parkway Station – the hub that will service the new £130m Oxford to London Marylebone rail link from Chiltern Railways – property investment firm Property Frontiers has claimed that the positive effects of Oxford Parkway’s arrival are already being felt.
The line will reduce the journey time between the two cities to under an hour and is expected to have a major impact on north Oxford's demographic.
"In the property sector, major regional developments such as Oxford Parkway don't wait until they are operational before impacting on the market," explains Bill Withers, Chief Executive of Property Frontiers. "Almost from the moment plans are announced, savvy property investors and developers will look to be a part of the area's regeneration."
The announcement of Oxford's first new station since 1935 has led to investors, developers and owner occupiers all eyeing up northern Oxford's accommodation options to see how they can become involved, Withers observes.
Although he warns of the complexities, saying: "Oxford has an extremely stringent planning application process, in order to protect the charm of the city's 'dreaming spires'. The result is the preservation of Oxford's wonderful, ancient architecture, but it also means that the supply of residential accommodation, particularly new build developments, has been something of a bottleneck in Oxford for many years."
Commenting on his own involvement, Withers concludes: "New builds in Oxford are few and far between. This being my home town, I've been acutely aware of the accommodation shortage here for some years, so it's wonderful to be able to finally be involved in helping to ease the situation."
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