Colindale Gardens: Prices and Rental Yields Across Nine Acres of Green Space

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Hello everyone, nine acres of of landscaped green space, with a 4 acre park inside it, a sauna and steam room and 22 minutes to King’s Cross. Today, Colindale Gardens is what we are looking at today!

For prices, taxes and the whole buying process, see our guide: UK Property Guide

Apartment types, current price range and location: see the project page

A huge scheme developed by Redrow in Colindale, north west London: roughly 2,900 homesin total. But the story of this place is not in the figure, it is in the greenery: the scheme is set within 9 acres of landscaped grounds and at its centre there is a 4 acre park. There are options from a studio to four bedrooms, and duplexes and townhouses. Yes, you read that correctly: in Zone 4, with these amenities.

Prices

• Apartments: £405,000and up
• Studio, one, two, three and four bedroom apartments, duplexes and townhouses
• Apartment size: 51 m²and up
• A total of about 2,900 homes, handed over in stages
• Address: Colindale Gardens, Colindale, Barnet, London NW9

Redrow, one of the largest housebuilders in England, known in particular for landscape led, community focused schemes. That is reflected directly in the character of Colindale Gardens. the advantages of buying a new build home a sensible option for anyone who wants to combine it with generous green space.

Why Colindale Gardens?

An amenity list far above the price band, a 24 hour concierge, a gym for residents only, a A sauna and steam room, a community room and a 4 acre park. To find this package in Zone 1 you would have to go above £800,000; here you enter from £405,000.

• Colindale tube station (Northern Line), within walking distance
• on the Northern Line About 22 minutes to King’s Cross
• Camden, Soho and West Enda direct link, with no change
• Fast access to the M1; direct to the north and the M25
• The Brent Cross shopping centre a few minutes away

9 acres of green space: in new residential schemes in London that scale is an exception. The scheme also includes cafes, restaurants and retail space, so the neighbourhood is self sufficient. Comprehensive schemes of this kind acquire an identity of their own over the years, and that makes a difference on resale.

Daily life: the green corner of north London

In the morning you are at King’s Cross, Camden or the West End with no change on the Northern Line. A walk in the 4 acre park at lunchtime, relaxing in the sauna and steam room in the evening. At the weekend shopping at Brent Cross, with Hampstead Heath and the green spaces of north London a short distance away. Colindale is at the centre of London’s fastest developing north west corridor.

Colindale Gardens rental yield

The Zone 4 location and a sensible entry price produce a good return. One bedroom apartments usually let for £1,800 to £1,950, 2+1s £2,150 to £2,400 a month. That puts the gross rental yield in the 5.3-5.8% band, clearly above Zone 1 schemes.

Tenant profile: young professionals who work in central London but do not want to pay Zone 1 and 2 rents, hospital and institutional staff around Barnet and Brent, and young families. The combination of a sauna, a gym and a park creates extra demand in this group. For areas with a similar profile, high yield buy to let areas is worth a look.

The shared areas and the details that set Colindale Gardens apart

• 9 acres of landscaped green space: with a 4 acre parkinside; that scale is an exception in London.
• 24-hour concierge: parcels, security and welcoming guests.
• Residents' gym: a fully equipped gym you can use without paying a membership.
• A sauna and steam room: an amenity that is rare in London at this price.
• A community room: space set aside for residents, for events and meetings.
• Roof terraces: shared outdoor space looking onto the London skyline.
• Cafes, restaurants and shops: within the scheme; no need to leave the neighbourhood for daily needs.
• A balcony or terrace in every apartment: without exception; and there are cycle parks as well.

Energy efficiency and comfort

The apartments are designed for energy efficiency; they are typically EPC B band. Against Barnet’s older building stock the difference in the annual bill is marked. If you let the property you are ready for the future against the tightening minimum energy standards in the United Kingdom.

Who is buying?

This project of buyers looking for a balance of amenities and price choice. You buy an amenity package you would not find in Zone 1 at a Zone 4 price. Professionals aged 30 to 50, young families and yield focused investors are the main audience. Its proximity to the multicultural neighbourhoods of north London also makes this scheme particularly attractive to international buyers.

Frequently asked questions

Is Zone 4 not too far? 22 minutes to King’s Cross on the Northern Line, with no change. In return the price per square metre is far more affordable and the amenity package far richer. Not for anyone after the prestige of Zone 1, but the right scheme for anyone looking for balance.

2,900 homes, will it not be crowded? The scheme is spread over 9 acres in a large number of blocks arranged around the park. Even so, which block is handed over in which phase matters, and we guide you on that.

What is the tenure? The apartments are leasehold, typically up to 999 years, and the townhouses are usually freehold.

Can I buy remotely from abroad? Yes. For the details, our remote property purchase guide page.

Can I use a mortgage? Foreign buyers can normally borrow up to 65-75% of the value. UK mortgages for foreign nationals is worth reading.

How much is the service charge? On a scheme with a concierge, a gym, a sauna and the upkeep of 9 acres of landscaping it is at a mid to upper level. The absence of a pool keeps the cost contained. We obtain the current figure apartment by apartment.

Total cost: what you actually pay when you buy at Colindale Gardens

Many overseas buyers look only at the apartment price and meet a surprise at completion. Let us work out the real cost on a £405,000 apartment. Stamp duty (SDLT) in the United Kingdom is banded: 0% up to £125,000, then 2%, 5%, 10% and 12%. On top of that, non-residents pay a 2% surcharge, and if you already own another home, a further 5% additional dwelling rate applies.

With a mortgage there are also valuation and bank charges, and if you let the property, management commission and income tax. The figures above are indicative, based on a £405,000 entry price; we prepare the exact calculation for your own scenario.

The Colindale Gardens buying process, step by step

If you are buying from another country, the process runs like this:

• 1. Choosing the apartment and reserving it. We go through the floor plans, the aspect and the view. The apartment you choose is usually held with a reservation fee of £5,000 to £10,000.
• 2. Appointing a solicitor. An independent English property solicitor (conveyancer) is appointed. That solicitor acts for you, not for the developer.
• 3. Identity and source of funds checks. You will be asked for a passport, proof of address and documents showing the source of your funds. This step is compulsory in the United Kingdom, and having the papers ready shortens the process.
• 4. Exchange of contracts and deposit. Contracts are usually exchanged within 21 days of the reservation, with a 10% deposit. The signature can be given digitally from abroad.
• 5. Stage payments. In off plan projects these follow the payment schedule; for completed apartments the step is skipped.
• 6. Completion. The remaining balance and the stamp duty are paid and the title is registered in your name. For completed apartments this stage can take four to eight weeks.

You can run the whole process from your own country; you do not have to travel to the United Kingdom.

Risks and what to watch for

We have set out the strengths; in fairness there are points to watch as well. For Colindale Gardens, these are the ones worth pausing on:

• Zone 4 location: although King’s Cross is 22 minutes away it is far for anyone after the prestige of central London.
• A very large scheme of 2,900 homes: handed over in stages, so there will be construction around for a long time and competition within the block when letting.
• Limited images: the project images on the site are around 1,060px; ask for current photographs and floor plans before choosing an apartment.
• New supply is heavy in Colindale: more than one large scheme is being handed over in the area at the same time.

None of this makes the project a bad one, but there is a wide gap between buying with your eyes open and finding out afterwards. We give every client this list up front.

How does Colindale Gardens compare with the alternatives?

Before you decide, it is worth looking at the other projects in the same budget band:

• Silkstream: an alternative in the same corridor with Berkeley St George quality.
• Wembley Park Gardens: next to a tube station in north west London, at a lower entry price.
• Kidbrooke Village: lakeside and mature park living in south east London.

We can work out together which project fits your goal, judged on budget, intended use and exit plan. For an overview, our guide to UK property investment for international buyers is worth reading too.

Answers to the most common questions on this topic: Is Buying a Home in London a Good Idea?