Connections between the North and South banks of the River Thames have been a hot topic for many years. It has long been known there is need for new ones to help improve connectivity and reduce congestion on existing routes. Several different sites have been earmarked to become home for new crossings but the progress has been slow.
The latest plan is for a bridge between Rotherhithe in the London Borough of Southwark and Canary Wharf. London Mayor Sadiq Khan recently suggested he planned to accelerate this project with hopes it would be finished and open by 2020. The aim is for procurement to begin next year subject to approval, funding, and ensuring land is available.
The Rotherhithe bridge plan has enjoyed widespread support because it would provide a great link between the residential area in Southwark and the business district in Canary Wharf. It is also thought it would help to reduce congestion on the Jubilee Line by allowing more people to walk and cycle for their commute.
The plan is for the bridge to be dedicated for cycling and pedestrians, making it green and sustainable as a result. This would align it with the Mayor’s aim to improve crossings and make them greener.
If approval is granted and the project makes progress it could have a positive impact on property prices in Rotherhithe and a wider part of Southwark. Transport links are attractive and can add good premiums to prices. In terms of Thames crossings this can be a very big rise because the infrastructure can dramatically cut commuting times and distances.
At Finefair we help clients to find properties in the perfect areas, whether they are looking to buy a home for themselves or a property with investment potential. With the new bridge Southwark could become a more attractive area and we will be on hand to help clients looking to make a purchase in the area.
Our diverse services include sales, making a purchase, property management, and guaranteed rent too. We are happy to share our knowledge of Southwark with clients and focus on delivering the best service for them.