The extension of the Bakerloo Line will result in a huge number of new homes being created in the London Borough of Southwark. The line will be extended to cater for people in Lewisham, providing faster connections to the centre of the city. It will be a huge project, taking at least ten years to complete, but it will provide huge benefits for the areas along the route.
Alongside the revelation of the route Southwark Council released information about an ambitious regeneration plan for Old Kent Road and the neighbouring areas. This project will see the creation of up to 20,000 new homes, schools, public spaces, and a brand new station at New Bermondsey.
Old Kent Road is one of the oldest and most famous streets in London. In the Victorian era it was regarded as a handsome thoroughfare and was home to many attractive buildings. Developments in the 20th century changed the area dramatically, with huge urbanisation and the creation of several housing estates. The regeneration project is designed to transform the street into a modern, pedestrian friendly high street lined with attractive apartments.
Alongside the regeneration of the road itself there is a proposal to regenerate part of the Grand Surrey Canal. This was built in 1807 as a trade route but was concreted several decades ago. The plan is to transform the area into a green corridor, returning the splendour and creating a new space for local people to enjoy nature.
At Finefair we always keep an eye out for news of regeneration projects across London. This one for Southwark is huge and could provide some really great benefits for the area. As a leading provider of block management and property services in the area we will be keeping an eye out for additional news as the huge number of new homes will present many opportunities for investors.