Homeowners in Queen Elizabeth Park owe a debt of gratitude

The Queen Elizabeth Park development was built on a former MOD army barracks housing the Women's Royal Army Corps Association regiment, before it was disbanded in 1993. 

Plaque to commemorate the WRAC

Located two miles to the north-east of the town centre, in the Stoughton area of Guildford, the site was set within an area of typical post-war suburban housing that has grown up around the barracks with few local facilities and a deficit of public open space. 

Queen Elizabeth Park Guildford

Building commenced at the turn of the century, in the year 2001, where both Laing and Linden Homes were selected to build a development based on a plan to deliver:-

• A parkland containing mixed-use, mixed-tenure households. 
• A new village green to create a central focus.
• A network of green routes connecting the village green to surrounding communities.
• The retention and enhancement of the existing landscape, with over 1,000 trees preserved.
• A square to comprise a community centre, children’s nursery, health and fitness centre, supermarket and 25 small business units.
• A bus service running through the site, pedestrian priority and new footpaths to the local school.
• A variety of house types, from one bed flats to five bed detached houses, designed to be spacious and open plan, with balconies and roof terraces to connect to the outdoors.
• 525 new homes, with 35% affordable housing distributed around the site.

After 3-4 years the development was completed and has delivered the plan, offering a mix of housing to accommodate a wide range of housing needs, plus business units to accommodate local small businesses. The nursery was built for toddlers and a major nursing home was added for those approaching their later life. 

Woodlands were retained in the development

In the meantime local residents can enjoy keeping fit to extend their life, at the gym and leisure centre which has been operated by several companies, including Virgin, over the years since it first opened. 

Sadly the Budgens supermarket, which has operated since 2005 closed down on April 28th, 2015. It appears that in spite of being popular with residents, local workers and visitors, it was not making enough money to survive. 

As regards the local housing market capital appreciation has been most significant for the larger Laing Homes, built in 2002. For example, the larger 5 beds, 3 baths executive homes were originally sold for around £464,900 but one was sold last year for £734,900, showing a 58% increase in property price over the intervening 12 years. A year later, in 2003, new semi detached 3 beds, 2 baths houses were sold for around £361,900 with one realising £469,100 last year, providing a relatively lower capital gain of 29% over 11 years. 

Buying an executive home therefore produced a greater gain.

Laing Homes built in Forster Rd, Queen Elizabeth Park, Guildford

However the 3 bed semi detached property will offer a potential gross yield of 6.9%, compared with the executive home delivering 5.5%, based upon current sales and rental prices.

Example of 3 bed homes built by Linden Homes, at QE Park, Guildford

Whether you are looking for a capital gain or a higher yield the developers did much to ensure that homeowners are now able to enjoy the beautiful area left to them by the ladies of the WRAC.

Whether you have already done a search for property, or are trying to figure out where to start, we’re happy to advise on properties before you buy, to let out, so if you would like advice about what could make a good investment, please call 01483 320 207 or email richard@guildfordpropertyblog.co.uk