Bromley remains one of the most affordable Boroughs in Outer London. Demand for homes is high as a result. This creates good opportunities for investors looking to purchase properties. Penge is an interesting area, definitely worth considering if you are looking at renting to commuters and benefiting from long term capital gains.
When it comes to property investment Bromley has few areas with better transport links than Penge. There are several stations in the area, all Zone 4, offering services on Thameslink, Southern, South-Eastern, and Overground routes. As a result commuters can travel quickly to Victoria, London Bridge, Canary Wharf, and St. Pancras. On top of this there is a tram service to Wimbledon and Croydon.
Penge has very good staying power because of the property stock in the area. There are a number of flats to choose from, including many in large Victorian homes that have been converted. Beyond this there are plenty of small and medium sized homes, including a selection of beautiful cottages and former almshouses. Finally some of the largest Victorian properties remain individual houses. As a result people can move up and down the ladder locally.
The greatest thing about the area is the close proximity to Crystal Palace Park. The area became the second home of the glass and iron palace when it moved from Hyde Park between 1852 and 1854. Sadly the structure was destroyed by fire in 1936 and the land fell into dereliction. On the bright side redevelopment and restoration has been successful over the years. Now there are an array of facilities and attractions for visitors to enjoy. This includes a museum, boating lake, sports centre, and dinosaur sculptures.
If you are thinking about property investment Bromley is a good area to consider. Penge stands out as a location in the Borough with a huge amount of potential. Finefair can help investors who are considering making a purchase. We also offer management solutions for a variety of needs, including taking care of blocks and estates.
It is good to have a strategy in place before you start looking for properties to invest in. Finefair can help you to decide what your aim is and offers ongoing services. Contact us today to find out more.