Property developer Downing recently received planning permission and will go ahead with creating some very interesting investment properties Lambeth residents may want to take note of. The proposal is for a £200 million development in Vauxhall. It will be situated on Miles Street, close to the local park, the train station, and across the river from Pimlico and Westminster.
The main part of the project is the creation of a 37-storey tower that will provide more housing for students. In total 841 beds will be available in a mix of five, six, or seven bedroom clusters. Some rooms will have en-suite facilities and others will be studios. Alongside the accommodation there will be 2,164 square feet of space on the ground floor for a cafe and reception area.
The second building in the development is to be mixed-use and will be 6 storeys tall. An impressive 38,567 square feet will be open plan office space. There is high demand for offices in Lambeth so this should be well received by businesses. In addition the roof of the building will be a multi-use games area.
A final part of the project is the creation of a public sports facility. This will create facilities for both student and community use. The amenities could help to draw more people to the area.
This project is the second one for Downing in the area. The first is currently underway at 30-60 South Lambeth Road, just a few minutes from the Miles Street site. This development is a 32 storey building with 553 en suite student bedrooms in clusters and a fitness suite complete with swimming pool.
The developments showcase that Lambeth and Vauxhall in particular retain excellent investment potential. The area has great transport links and is a good distance from universities and attractions that residents will really appreciate.
If you are considering opportunities for investment properties Lambeth has plenty to offer. The Finefair team is here to help and has the skills to manage portfolios of various sizes. We always focus on maximising value for clients and every single service comes with professional support.
To discuss your investment ideas with a knowledgeable team, simply get in touch with our office.