[Sponsored Article]
The landscape of London is fast changing, from a lick of paint in some small corners of the city to the mass redevelopment of whole neighbourhoods. Thames-side communities in particular, have undergone huge structural and demographical changes to the benefit of local communities and investors. In the river-side developments of Nine Elms, Battersea and Vauxhall this is more than the typical gentrification seen in other areas east of the city.
Only five years ago many neighbourhoods sitting by the Thames were semi-derelict, home to light-industry, had little community ties and remained a largely forgotten wasteland for Londoners and investors alike.
Move forward just a few years following some serious investment in the area and what do you know? Things have started to look up. You only have to look at the data which stands as strong evidence for the growth of these areas. The increase in prices for Thames-side properties is growing much faster than the traditional luxury hotspots like Chelsea and Fulham. Our data shows that prices in Central South London have increased 50% in six years and have edged slightly higher than their Central London counterparts.
Nine Elms in particular is a typical example of complete neighbourhood rejuvenation, and the perfect place to make a property investment. An ambitious project spanning over fifteen years the £15billion regeneration programme promises to create 25,000 new jobs, 18,000 new homes – including affordable housing – and see an additional 30,000 people take up residency in the area.
The local infrastructure investment such as the planned expansion of the Northern Line, a river bus, and a new bridge accessing Westminster directly, has already contributed to the success of the project. Notable organisations such as The US Embassy have already announced their move to the area, and new properties are selling well. JLL have also just opened a property branch in the area!
Furthermore, its close proximity to the well-established South Bank and newer projects such as the redevelopment of the New Covent Garden Market and Battersea Power Station make it an excellent choice for property investors. In fact, our phase one buyers of the Nine Elms redevelopment in 2013 have already seen a good appreciation of between 15-20%. Furthermore our data forecasts suggest this steady growth will continue in the next four years.
Nine Elms and its riverside counterparts could be the last major regeneration prospects so close to the city for the foreseeable future, making it a ripe opportunity for investment.
Find out more about overseas investment at our exclusive Embassy Gardens. Please contact JLL +852 2846 5782.
