Investing in property in South East London in 2016
Home to some of the world's largest banks and financial institutions, Canary Wharf has long been synonymous with finance sector professionals. Previously considered deserted at weekends, this is rapidly changing thanks to fantastic new developments, which are pulling in a new type of resident.
Where to invest in property in South East London in 2016
Andrew Groocock, Head of Knight Frank in Canary Wharf, believes new developments are creating a Canary Wharf ‘community’ focused around a cutting edge standard of living.
"With a fully occupied shopping centre, great new retail development in Wood Wharf, a host of restaurants offering cuisines from all over the world, as well as arguably the best transport links in London, Canary Wharf is an increasingly desirable area in which to live.
"There will, in my opinion, be two types of London buyer, those who want ‘old’ London and those who want ‘new’ London and Canary Wharf is going to form the centre for anyone wanting to live in ‘new’ London.
“These people will want to live in high rise developments fitted out to the highest standards and offering as many facilities within the building as possible. I would be looking to buy in this area now, as close to the estate as possible in a new development which is due for completion in the next few years in, conjunction with the opening of Crossrail.”
“For a value for money investment on a £psf basis, I would look to buy near a Crossrail hub in a previously less popular area. In relation to my office, I would look to buy in the Ballymore /Oxley development called Royal Wharf. The scale of Royal Wharf offers the potential to create a new, great estate for London. Not only does Royal Wharf offer a stunning south facing riverside promenade, but also has at its heart a new vibrant high street connecting parks and squares.
“There are stunning apartment buildings offering unrivalled views of the Thames, terraced mansion blocks offering generous family sized apartments and a range of townhouses with tall ceilings and stunning private gardens.
"The development will consist of 3,385 homes in total, a beautiful riverside walkway, new streets, connecting parks and squares, as well as new apartment buildings with views of the River Thames, a new school, shops, offices and riverside restaurants, catering for a population that is estimated to reach 10,000 by completion.
“The prices are so affordable with such great facilities and access to Canary Wharf and the City that as a long term hold I believe this will be very successful.”
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Bankside and Southwark
Richard Klein, New Homes Partner, puts his money on London's Southbank as it enjoys cultural renaissance and urban regeneration. On investing in South East London he says,
"There is a real vibrancy to the area with fantastic restaurants, such as Mark Hix's Hixster, all the wonderful produce on offer at Borough Market, the extraordinary variety of events at the wonderful Southbank Centre and a real sense of regeneration with modern buildings such as The Shard, the Mondrian Hotel and all the new residential developments around Blackfriars Bridge.
"For a zone 1 location, the area offers great value for money and is perfectly located for access into the City and the West End. With a new cycle superhighway being delivered next summer that runs through SE1 and the beautiful proposed Thomas Heatherwick designed Garden Bridge, accessibility is first class and your transport options are almost endless.
"For me, it's still a bit of an undiscovered gem in London and having lived all my life north of the Thames, I have loved living south in a fantastic part of London and wouldn't hesitate potential purchasers to invest in a property in the area."
For tailored property investment advice speak to one of our experienced property agents or search for property for sale in South East London.
View where to invest in properties in other London areas in 2016