When talking of change, it is no secret that for some time now you’ve needed to look east for the best areas of opportunity in London, where regeneration efforts over many years are coming to fruition.
Targeted heavily by renowned developers such as Berkeley Homes, Ballymore and Galliard Homes, E14 and E16 are the postcodes that have continued to appreciate in capital values year upon year.
It started in the 1980s with Canary Wharf. More recently the Canary Wharf group has been investing heavily in Wood Wharf, the plot of land adjacent to Canada Square, so things are only looking brighter for the immediate areas in and around the financial district.
Values have not peaked yet, which means even these premium properties have room for capital growth. In particular the completion of the Crossrail stations and links at Canary Wharf and Custom House will benefit the surrounding areas: the recent Crossrail Property Impact Study found that residential capital values could increase by 25 per cent on completion of the Elizabeth Line. With the Jubilee Line scheduled to run 24 hours a day and the now-excellent transport links across the area, tenant demand has never been higher.
London’s traditional central residential areas often offer inferior quality at greater cost, so it’s understandable that residents are looking elsewhere for better value. The regeneration continues. The Asian Business Port investment of some £1.5 billion will create a 35 acre complex of offices and shops, while the £22 billion development of businesses, homes, offices and leisure facilities around Victoria Dock will complement the elevation of Wood Wharf and the Silvertown area in E16.
For more information about the regeneration schemes and the ways you might benefit from an investment in these areas, just contact me on 020 7378 0644 or [email protected].
By Lloyd Withey
Lloyd Withey is Senior Negotiator at Madley Property