I thought that today we would look at the far eastern end of Southampton, and the other end of the number 18 Bus Route – Thornhill.
Whatever you have heard about Thornhill, may or may not be true. Like Millbrook, Thornhill was built up as a council estate during the 60’s, when the council’s slum clearance program in the City Centre meant that people needed new places to live.
Situated on the eastern border of the city and bounded by three major roads; the area is effectively an island. It is made up of houses and blocks of flats, dominated by three tower blocks – Meredith, Hightown and Dumbleton.
Owner-occupiers represent 43.9% of properties, according to the 2001 census, compared to 47.5% local council tenure. The remainder is made up of Housing Association and privately rented homes. The main road through the estate is Hinkler Road, named in honour of its most famous resident, as is the pub! – Bert Hinkler who flew solo from England to Australia in 1928.
At one point, Thornhill was recognised as an area of social deprivation, and it was one of 39 areas around the country chosen in 1999 for the New Deal for Communities.
Of course, this is all starting to change, as Thornhill is going through a period of regeneration of the worst parts of the estate. It is almost a reflection of the slum clearance that took place in the City Centre, which resulted in Thornhill being created in the first place.
The Hinkler Parade Regeneration Scheme has seen the demolition of seventeen shops – many of which are boarded up – twenty-two flats, and a five-storey block of sixteen flats in Marston Road, and their replacement with 106 new homes – which would be a mix of rent, part buy-part rent and full ownership, 5 new shops and a community centre.
With this level of regeneration, Thornhill is starting to become an area that landlords should consider starting to invest in again, especially with a potential rental yield of 6.88% for newer properties, and between 7 and 8% for older properties.
So if you are thinking of buying a rental property in Thornhill, or Southampton generally, you should give me a call (Lee) on 023 8001 0434. I can come with you on property viewings, and be able to offer and advise on the potential rental price, and what work would need doing (if any) there and then. Giving you the confidence to make that purchase much quicker. I look forward to hearing from you.