East London is home to a number of high profile development projects. Each of them brings new investment to the capital, creating homes and job opportunities as well as stimulating the economy. The ongoing projects are diverse and feature some exciting ideas. Several current projects include redevelopment of Brownfield sites, seeing previously derelict buildings and land transformed.
The Millennium Mills project in Silvertown fits this bill perfectly. The 1930s art deco building is renowned for its unique appearance and presence, but has sadly stood empty and unused since 1992. However, last year planning permission was granted for its redevelopment. It will be the centrepiece of a £3.5 billion project in the area that will create 3,000 homes and 5,000 jobs.
In the early 70s several docks in Southwark which had previously been used for importing timber were closed. The London Docklands Development Corporation (LDDC) launched an extensive project to redevelop the area, filling in the docks and planting a woodland covering 34.5 acres. This greenery will be a fantastic backdrop for the new Canada Water Masterplan, a project that will join up existing developments, create 2,000 urgently-needed new homes and a town centre.
Residential development Quebec Quarter will make up a distinctive part of Canada Water. The apartment blocks will offer 151 homes for purchase and 69 flats earmarked for shared ownership. The larger apartments will be ideal for families, particularly with the green spaces in the area and the excellent availability of transport links.
The final phase of the Royal Wharf development is also underway. Mariner’s Wharf will offer over 200 new homes in two new high rise properties. This historic part of London will soon be finished, creating new communities with squares, gardens and shops.
These three developments offer good opportunities for investors and buyers looking to get onto the property ladder. With demand for homes so high across the capital, especially in East London, it is always positive to see existing spaces being redeveloped and made useful rather than neglected. Prospective buyers may need to act fast if they want to secure a home in one of the areas. As property management and investment specialists, we can help you to identify the ideal property to meet your needs. Just get in touch for further information.