Investing in North London property in 2016
As London areas’ popularity wax and wane, Islington, N1, remains one of the most dynamic, exciting and desirable in which live. Excellent transports links, proximity to the City and the West End, vibrant entertainment scene and handsome property stock makes this a hotspot which never ceases to cool off. Nick Moore, at Knight Frank’s Islington office naturally chooses Islington, but there are good reasons to. He explains,
Where to invest in property in North London
“Islington has long been a favourite for investors due to its proximity to the City and excellent links to the West End. As a result, void periods in the area are some of the lowest in central London. However, dramatic price increases across central London over the course of the past five years have meant that yields have dropped.
"So, should you still invest in Islington? The answer has to be yes – there has been huge investment in the borough in recent years and you don’t have to stray too far from Angel to find some of the area’s largest development projects.
“Development of the 26 acre site at King’s Cross is on-going and the transformation of the area is dramatic, with 2,000 new homes, 500,000 sq ft of shops, restaurants and other facilities being built amongst the new streets, squares and parks that are being created. With its own brand new postcode, the scheme is due for overall completion in 2020 and has already caught the eye of the astute investor. So, what makes it so attractive?
“Essentially there’s nowhere like it in London. What Argent, the developer, is creating at King’s Cross is a town within a city. Residents will have everything that they could possibly want on their doorstep, from boutique shopping to fine dining and truly excellent transport facilities, including the high speed rail link to Paris and Brussels from St Pancras International, all of which make the area extremely attractive to investors looking for rental stability and longer term capital growth."
"2016 will also see the launch of the highly anticipated Islington Square development, on the site of the former north London mail centre in the heart of central Islington and just off Upper Street. Standing at its heart are four wonderful Edwardian red brick buildings which will be refurbished to create 126,000 sq ft of luxury apartments, together with shops, cafés, restaurants, offices, a Third Space health club and Odeon Lounge cinema. The development will undoubtedly catch the eye of investors and if I were looking to invest in the area, it’s certainly something that I would consider very seriously.
"Will the appeal of Islington ever wear off? I have been an agent in the area for almost 17 years and it is safe to say that every year that has passed has seen the area become more popular. Obviously tastes change, but if I were looking to invest, is this a part of London that I would seriously consider investing in? Yes, absolutely".
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View where to invest in properties in other London areas in 2016