New Oxfordshire estate to offer landlord investment opportunities?
Posted by Jayne Codling
Opportunities for new property investments for those interested in buying to let in Oxford could arise following proposals for the construction of 1,000 new homes in nearby Witney.
Oxfordshire Land Limited, a consortium of several building firms, has submitted plans for the new estate to the local council for approval.
If planning permission is granted, the scheme will also see the construction of a new primary school, shops and children’s play facilities at the plot close to West Witney, around 12 miles from Oxford town centre.
Plans for the new estate include an access roundabout onto the A40, allotments and ten hectares set aside for commercial use, reports the Oxford Mail, while space has also been allocated for a secondary school to be built in the future.
Plenty of buy-to-let investment opportunities could be created by the scheme, with Oxfordshire Land Limited spokesman Tim Binnington telling the newspaper that a mixture of two to five bedroom houses will be built.
"We are very excited. It is the culmination of about 12 years' work," he commented.
"We hope to create a vibrant community that best suits the future needs of Witney, while being sympathetic to the surrounding area."
Meanwhile, buying to let in Oxford could also be a smart move for those investing in student properties.
According to Peter Mindenhall, researcher at property investment strategist IPINGlobal.com, student accommodation sector is currently "very strong indeed".
He explained that rising interest in UK universities from abroad is helping to keep student property investments insulated from the local economic uncertainty.
Properties near top universities, such as Oxford, which attract high numbers of foreign students, could prove particularly fruitful.
"Universities that traditionally have a high intake from abroad can be expected to show more consistent returns," said Mr Mindenhall.
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