Bermondsey is one of London’s most exciting residential areas covering postcodes SE1 and SE16.
Over the past decade, it has gone from a historic but neglected area to become one of the capital’s most talked about residential and commercial areas of regeneration.
With its historic docks and quays linked to the south side of the River Thames, old and new exist cheek by jowl and diverse but stunning views lay around many corners.
The closely linked financial and business districts of the City of London and Canary Wharf make breath taking backdrops across the river whilst the business hubs of London Bridge and Bankside are within easy walking distance.
Little wonder then that the entire Bermondsey area, nudging the river with views over the neighbouring City of London, has been catapulted to the top of many wish lists.
The area of Bermondsey is diverse and its many catchments have undergone much regeneration and redevelopment. The area has long been tipped as one of London’s most key areas of regeneration for both residential properties and commercial properties.
Many of London’s top developers have targeted the area and continue to do so with numerous landmark developments either completed or in the pipeline.
The buyer demand for the area has also seen a significant increase across the last decade. One of the key factors in Bermondsey’s continued rise is the area’s appeal to such a broad range of buyers. Owner occupiers love the area as it gives a fantastic mix of being so centrally located but also being a place people want to live, not just work.
The same reasons make it ever popular with tenants and this in turn allows investors to have strong rental returns to run alongside the area’s massive potential for capital growth. Bermondsey is packed with quirky markets, an amazing mix of bars, restaurants and cafes and is one of London’s “foodie” hotspots. The area also boasts a mix of boutique shops and trendy offices that sit alongside fantastic transport links and the must have basic amenities.
Housing stock in the SE1 and SE16 area is very varied and this is another factor of the area’s charm and another attraction for buyers. The mix of period houses, trendy converted maisonettes, modern new builds to ex local authority stock to 1980s housing means that the area has almost something for everyone at a big range of budgets.
Areas such as Bermondsey Spa and the upcoming redevelopment of Millwall football club have been given much press but the area has much more to offer buyers than these headline schemes.
The area also holds a key location between some of London’s most exciting regeneration zones such as Canada Water, Surrey Quays, Old Kent Road and Deptford. Given the huge change, these areas are undergoing the “ripple effect” for Bermondsey’s values will be significant.
When dealing with areas of such significant change, it’s vital that an agent understands the history and trajectory of these changes and how they can affect a property’s value.
It’s not enough to just understand one area, too have a true understanding an agent must also understand the change already underway in neighbouring areas and the impacts this may have on values in the area the property is situated.
This is equally important when it comes to valuing property on behalf of a vendor or informing potential buyers and investors. This knowledge can make the difference of £1000s in an asking price, time to sale or offer from a potential buyer.
Tenant demand is often driven by convenience so it’s understandable that, due to its enviable location in Central London and its outstanding travel connections, Bermondsey is at the top of many tenants wanted list.
The area also offers more than easy access to other areas, it’s now very much a destination of its own and one where people want to live and be seen.
The Bermondsey area is packed with trendy workspaces and these sit alongside its many parks and green open spaces.
With an area that is this varied and quite vast, it’s key that Lettings negotiators understand exactly what the area has to offer prospective tenants over and above the basic requirements. Knowing where the tube station is not enough, and most tenants want to know the inside scoop on the area and location.
These kinds or insights come from an in depth knowledge of an area and this comes from years of working, living and dealing with hundreds of other tenants in that live in the area.
Madley Property’s Bermondsey Sales team have a comprehensive range of residential properties for sale across the London Bridge and SE1 area.
Contact our SE1 Estate Agents for more information.
The vibrant lettings market in Bermondsey reflects the soaring popularity of the area. Here you’ll find pristine modern developments with premium facilities, warehouse conversions and Victorian houses, creating a diversity that caters to every taste and need.
Yes indeed. Click here to see houses for sale in Bermondsey or click here if you are a tenant and looking for a new property to rent in and around Bermondsey.
Feel free to visit us at our office in Bermondsey Street, London SE1. Opening hours, Monday to Friday: 9am – 7pm or Saturday: 10am – 4pm.
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Lettings Update - February 2020
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