New development brings ‘much-needed affordability’ to Elizabeth Line hotspot

Almost one year on from the opening of the east and west sections of the Elizabeth Line, property prices along Crossrail’s route have ‘skyrocketed’, inflated by a surge of new buyers looking to purchase close to the new 100KM train link.

According to Rightmove, average sold prices at the start of the line in Reading have risen by 8 per cent since this time in 2022. Delivering ‘much-needed affordability’ in the increasingly popular area, housing association L&Q is launching the first phase of its brand-new development, L&Q at Bankside Gardens, on 28 October.

Set close to the River Kennet and surrounded by four lakes, the new waterside neighbourhood will offer a collection of one, two and three-bedroom apartments. Significantly, L&Q at Bankside Gardens will deliver a range of on-site facilities within ‘The Residents’ Club 51’, a central hub for the development.

Managed by a professional concierge team 7-days a week, the club offers a brand-new co-working space, a gym, and a private cinema. There is also a coffee shop and a supermarket just a stone’s throw from the new development.

In addition, a brand-new train station is now open next to the development. Reading Green Park station is just a stone’s throw from L&Q’s new homes, linking directly to Reading Central station, with onward connections into the capital in just under half an hour.

Claire Brenlund, Sales and Marketing Director at L&Q, commented: “Crossrail fully launched almost a year ago, and the Reading property market is still seeing the effects, with average prices now reaching almost £435k.

“L&Q at Bankside Gardens is the perfect opportunity for first time buyers looking to get onto the ladder in this increasingly popular area. Shared Ownership homes require a much lower deposit than purchasing on the open market, making this an affordable route to homeownership for many.

“Residents will enjoy access to a fantastic range of facilities at this new waterside neighbourhood, alongside excellent transport connections into Reading Central Station and beyond.”

Reading offers a ‘bustling’ town centre with a range of amenities. Popular shopping destination The Oracle is just a short train ride from the development, providing a wide range of fashion, beauty, electronic and home stores, as well as 22 restaurants and cafes.

By Matthew Neville – Senior Correspondent, Bdaily

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