Property companies on Friday kicked off plans to invest in Tottenham, amid expectations Spurs’ new £400 million stadium will trigger demand for homes.
Housebuilder Aitch Group revealed it is looking to make its debut in the north London area and spend around £20 million this year on land to build flats, the Evening Standard informs.
The firm is one of a number of businesses banking on the area becoming more desirable to housebuyers as values rise when Tottenham Hotspur moves into its 61,000-capacity stadium at the beginning of the 2018-19 season.
Estate agency Hunters, which has 180 UK branches, revealed it will this month open in Haringey for the first time, on High Road, Tottenham. Hunters’ boss Glynis Frew said the area has “fantastic investment potential”.
Nik Madan, group lettings director at estate agency Barnard Marcus, said his firm is trying to open a branch in N17 for the first time by mid-2017. Madan said: “Brexit may have spooked the high-end central London market, but Barnard Marcus is convinced there is house price and rental growth potential in London areas undergoing regeneration.”
Online agent emoov said house prices around the stadium have risen 8.6% to £339,924 in the past 12 months.