Southwark is one of the most centrally located London Boroughs, but has been maligned for decades because it is on the south bank of the Thames rather than the north. Until very recently the Borough was considered working class, particularly Peckham and similar areas. With rising house prices in the capital and huge demand for houses, this attitude quickly changed. New developments came quickly, bringing a brand new lease of life to the location.
Currently it is estimated that over 40% of Southwark is undergoing regeneration in one form or another. This is occurring as a result of the Council’s economic wellbeing strategy for 2012-2020. The plan is to promote the Borough as a place to live and work, attracting businesses, employment opportunities and promoting financial wellbeing. One of the ways to achieve this is by regenerating high streets and town centres so they are more attractive and offer the best facilities for businesses.
The plan is an ambitious one, and has already seen a great deal of work. Large scale developments like the Shard have also brought attention to Southwark, helping to attract much more interest to the Borough. There are additional commercial and residential projects underway that will see further regeneration of the area.
The riverside part of Southwark is the most highly sought after area and can potentially provide fantastic returns for investors. People in London love living beside the river as it offers better views and access to countless amenities. This also attracts businesses looking to serve them. Many people, estate agents included, have even started referring to the riverside as its own postcode because properties along it are in such high demand. Luckily for Southwark, it has a long stretch in an absolutely fantastic central location.
The development of Southwark is paying off, resulting in rising house prices and high demand. In the first months of 2015 prices were up 21.1%, making it one of the strongest performing Borough’s in the whole of London. This comes at a time when prime London locations have been cooling. It is natural that investors have cast their eye to Southwark as a result because their money can go further there are better prospects for growth. If you need property management specialists or a lettings agent for your Southwark investment, we are the first choice for all your needs.