The property market in London is very unique with the way the city is split into Boroughs. It can actually be viewed as a collection of smaller markets rather than one whole. Each of the separate markets is unique and has its own characteristics.
Wandsworth has one of the most interesting property sectors in the whole of London. The area is south of the Thames but is very close to the attractive Boroughs to the north such as Kensington and Chelsea, Westminster and the City. This translates into good demand for properties and fantastic prices.
With property values in the Borough and demand for homes so high there has been a lot of work taking place to create new housing. This has included new builds and all manner of regeneration projects.
Some of the projects have even seen changes to pubs in the area. This has drawn a big reaction from the local Council. They became the first authority in the UK to remove permitted development rights on pubs, meaning that planning permission needs to be secured before any changes can be made to the buildings or the use.
The move is an amazing one and sees permissions withdrawn from 120 venues across the Borough. The pubs and bars in Wandsworth are now the most protected in the country. The decision has been praised because it preserves these buildings that are so valued in many communities.
The removal of permitted development rules has come after the huge controversy last year when a pub in the area was demolished and replaced without permission. The Council refused retrospective planning permission and found that the building in question had been culturally and historically significant. It was ultimately ruled the developer had to rebuild it.
At Finefair we work with a wide array of property owners in Wandsworth, offering services such as property management and investment solutions. We keep a close eye on changes to laws and regulations in the area so we can keep our clients updated. The new protection for pubs is important and residents, property owners and developers need to be aware of it.