There has been much excitement here in Killay around the latest St Modwen development in the former Swansea University campus based in Hendrefoilan Woods, as the first batch of properties start to go up.
The 52-acre site, situated just off Gower Road, on the former Swansea University Campus in Hendrefoilan Woods, will be one of Swansea’s biggest residential developments in years. The land was acquired by award-winning developers St Modwen, who built the Swansea Bay Campus on Fabian Way, and Coed Darcy in Llandarcy.
Launched a few weeks ago, the Hendrefoilan Development will offer around 300 new homes and have a range of house types available, including 3, 4 and 5 bedroom properties. It will be built in phases across 20 acres, whilst the remaining areas will be preserved as woodland and open green space.
McCartan MD Hannah McCartan says, ‘whilst the development was controversial to begin with due to the increased levels of traffic that Gower Road will have to accommodate, overall, Killay is in real need of quality family homes. It will be a real boost to local shops and services in Killay, as well as to the wider economy, as more families will be setting down roots in the area.’
The cheapest properties will be sold for somewhere in the region of £259,995, but investors will be disappointed to learn that the developers won’t be accepting Buy-to-Let mortgages as a purchase option.
However, should circumstances change for an owner of one of the new properties, rental demand in the Killay is always high, and with the estate expected to be hugely popular, the demand for rented accommodation there will be high. The estimated rental on a basic 3 bedroom semi-detached will be around £850pcm.
The yield on these properties won’t be as appealing as other, more usual property investment opportunities in Swansea, however those who find they might need to rent in the future, or are cash buyers, will be thinking about the long term prospects this estate could offer in terms of rental desirability and capital growth.
What’s so great about Killay?
Based in Killay, we may be slightly biased here, but the facts remain; Olchfa Comprehensive School has always been a draw to the area, with families looking to move into the catchment area. There are many well-regarded primary schools nearby, too, such as Cila Primary and Dunvant Primary. Hendrefoilan Primary is set for a £650,000 investment to cope with the surge in demand for places the Hendrefoilan Estate is expected to bring.
For those who love the Gower Peninsular and its stunning beaches, Killay is situated only a few minutes’ drive from its award-winning beaches, but is still only 3.5 miles from Swansea City Centre, and 7 miles from the M4 for those who commute. Singleton Hospital, University, and other major establishments of employment are all within easy reach.
Its central location to city and countryside make it a hit with many demographics, from young professionals to retired couples, and everyone in-between.
House Prices in Killay
The current average house price in Killay is a much more reasonable £225,490*, and the current average asking rent is £592*, both well below the average prices for other similar locations such as Mumbles or Bishopston when considering being so close to the Gower.
The village itself has pretty much everything you need on hand; Barclays Bank, a Post Office, butchers, greengrocers, two Co-ops, estate and letting agents, barbers, beauty salons and a cosmetic clinic, pubs, pharmacies and a medical centre, a library, garden centers/DIY supplies and at the end of it all, a funeral home.
If you’re thinking of investing in Killay, or have a property to let and would like a fresh assessment of it, please do not hesitate in giving us a call, or pop into our office (just next to the Co-op on Gower Road).
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