London has a unique property market because of the sustained high demand for business and living space. The spatial limitations in popular areas also mean investors are continually looking for properties which will yield higher profits in the future.
Currently, a lot of attention is being cast towards the eastern side of the city. Greenwich in particular is home to several developments and regeneration projects. It is one area in the east where a number of new houses are planned to be constructed within the next decade and beyond.
East London is becoming increasingly popular for investors and tenants as it has an abundance of properties which are full of character and charm. There is also a great deal more space to be found than in the more central areas of the city. Modern apartment blocks, parks and plazas are planned, but the area still retains much of its history and culture.
In Greenwich there are many projects currently underway bringing new attention to the area. The Royal Arsenal Riverside is one of the largest of these, valued at around £1.2 billion. The 88 acre site includes new builds and conversions of many historic listed buildings to create 5,000 new homes and leisure facilities. The Crossrail project will mean new residents can look forward to dramatically reduced travelling times in the future.
Kidbrooke village is another stunning development (being built by Berkeley, the same firm responsible for the Royal Arsenal Riverside) bringing new homes to Greenwich. The £1 billion project will see four distinct neighbourhoods constructed and 4,000 homes. The communities will be a great addition to London with plans in place for countless facilities and 136 acres of parks.
With the announcement of the new Greenwich Peninsula there is even more development planned for the area. Properties are getting snapped up quickly in all of the new developments because of the fantastic location, transport links and new leisure pursuits set to be built. If you’re looking to purchase a property that could prove to be a great future investment this might be a good area to look at.
As a professional lettings agent for Hounslow, Greenwich and all other areas of the city, we can help you to make the most of your investment property. Contact us for further details.