London property prices are sky-rocketing, so what better time to invest with the rest?
RIGHT now, investing in a London home looks like a pretty smart move. Asking prices saw a 10 per cent increase last month and, with low-deposit schemes like the government’s Help to Buy initiative, more people are looking to invest in a second property to lease. But the process can seem bewildering for first time investors. Here are some recommendations to get you started.
WATERSIDE PARK, THE ROYAL DOCKS
As the regeneration plans for the Royal Docks Enterprise Zone progress, Barratt London’s Waterside Park development is conveniently placed next to what could become London’s third business district. Waterside Heights, the latest phase of Waterside Park, includes a mix of one and two bedroom apartments and three bedroom duplexes. Pontoon Dock DLR station is also on the doorstep providing transport links to Canary Wharf in 10 minutes and the City in 20 minutes. The Jubilee line is nearby and high-speed rail in the form of Crossrail is coming in 2018. Prices start from £352,500 for a two bedroom apartment.
RIVER WALK, KINGSTON-ON-THAMES
Redrow London’s River Walk development will feature 81 studio, one, and two bedroom apartments not far from the Thames, set among tree-lined footpaths. Residency comes with access to a communal rooftop garden and the development has been designed with young couples, first-time buyers and professionals in mind. Prices for a one bedroom apartment start from £199,950.
GREENLAND PLACE, GREENLAND DOCK
Barratt London’s Greenland Place in Deptford has 562 studio, one, two and three bedroom apartments spread over five low-rise buildings, as well as a 19-storey and a 22-storey tower. Greenland Place is a series of perimeter blocks, mewses, courtyards and squares. The development includes 6,500 sqm of commercial space, including a new business centre. Located next to Greenland Dock, the area is undergoing major regeneration, bringing new facilities and transport links. Greenland Place is just a short walk from Surrey Quays Overground station with connections to Canada Water, London Bridge, Canary Wharf and the City. Prices start from £284,000 for a one bed apartment.
NEW SOUTH QUARTER, CROYDON
The Royal Crescent is the latest phase at Barratt London’s New South Quarter development in Croydon offering one and two bedroom apartments just a short walk from Wandle Park tram station with connections to West and East Croydon railway stations. Each apartment features a balcony or terrace, many of which have riverside views. The development is next to Wandle Park and the River Wandle which, after having been lost underground for more than 40 years, is being brought back to the surface as part of a green regeneration scheme for the area. Prices start from £204,000 for a one bedroom apartment.
Barratt London’s Renaissance development in Lewisham will be 788 new homes set around private landscaped gardens. It’s opposite the Lewisham DLR and rail station, with Greenwich five minutes away and London Bridge eight minutes away. Residents will also have access to The Glass Mill Leisure Centre. Just a short walk away, Lewisham high street has local produce markets and a choice of bars and restaurants. Sienna Alto is the latest phase to launch at Renaissance with 119 homes available, including one and two bedroom apartments and two bed duplexes. Prices start at £371,000 for a two bedroom flat.
THE SCHOOLYARD, WANDSWORTH
L&Q’s new development will bring 119 new homes to the site of a former school. Made up of one, two, and three bedroom apartments, these homes are situated in the desirable and leafy borough of Wandsworth. The new homes are a short walk away from Wandsworth Town station with excellent links into central London for work. Homes will be close to shops, restaurants, venues and popular green spaces such as Wandsworth Common, Tooting Common and the Thames bankside are also nearby. Prices for a one bedroom apartment start from £335,000.
For more information on Waterside Park, Greenland Place, New South Quarter, or Renaissance, log on to the Barratt London website barratthomes.co.uk/london or call 0844 811 4334.
To find out more about River Walk, log on to riverwalkapartments.co.uk, call Redrow London on 020 3538 2516, or email email@example.com
For L&Q’s The Schoolyard in Wandsworth visit theschoolyardsw18.com.
REGIONAL SALES DIRECTOR, BARRATT LONDON
New BUILDS are an excellent choice for first time investors, who should look for high quality, well designed properties in areas with excellent transport links that are poised for capital growth.
A great example would be our Waterside Park development which has the advantage of being located within an extensive regeneration zone supported by the Mayor of London who has confirmed a £1.5bn plan to regenerate Silvertown Quays in London’s Royal Docks, directly opposite our development.
This has resulted in the increase of rental values which are now predicted to be between 5- 5.3 per cent higher.