London Regeneration Hotspots for buying a property
When buying the perfect property there is a lot to consider before putting your 10% deposit down, e.g. “can I see myself living here for the foreseeable future?” This is what you would think if you were buying the property for yourself to live in. But if you are purchasing for investment purposes you would think, “What would I gain from purchasing here?”
Staying ahead of the investment curve can be difficult due to the delays to the Elizabeth train like and the status of Brexit constantly being uncertain making things extra challenging, but the City of London has plenty of exciting pockets where regeneration is already well underway, making for excellent investment property purchase opportunities.
Here are a couple of areas of London, which will be excellent for an investment purchase.
Poplar has been known as the “Ugly Duckling” of East London. This is due to Poplar not being the calmest or having limited greenery, however, the area is developing and improving. Due to the DLR line, this is easily commutable into Central London or Canary Wharf/Bank for work, improvements to primary & secondary schools, along with access to many top universities, e.g. 16 minute drive to Greenwich University. Poplar’s building pipeline includes 3,000 flats both in new buildings and revived brutalist landmarks, including new shops, businesses & parks. Homes are on offers for renting, buying and first time buyers who need subsidised homes.
Fraser & Co Properties around Poplar.
Starting at £385,000
• Selection of 1-3 bedroom apartments
• Parking available at an additional cost (subject to availability)
• 999 Year Leasehold
• Excellent Transport Links via Langdon Park DLR Station.
Old Oak & Park Royal
Situated in West London, Old Oak & Park Royal is a great location as it is commutable into Central London and affordable property prices. Park Royal is set to regenerate over the next few years. This includes a £7 billion contribution to the economy which includes, population growth of 6.2% over the next 10 years which means potentially 65,000 new jobs opportunities and 25,500 new homes in the area. Over the next 5 years flat sales will increase by 50%, and flat rental figures will increase 12% by 2024.
According to Boris Johnson, “Old Oak & Park Royal will play perhaps play the most crucial role of any regeneration in London….delivering these much needed jobs & homes.”
Fraser & Co properties in Old Oak & Park Royal.
Starting from £355,000
• Selection of studio – 3 bedroom apartments
• Private balconies or terraces available.
• Excellent Transport Links
• Spectacular views
• Estimated completion 2021/2022
Harrow is also another area of London which is set to regenerate by 2026. Harrow Council have proposed to make a difference for the community, businesses, families & vulnerable residents. Proposing new homes and new job opportunities.
There are 3 train stations (tube and overground) located in Harrow which provide transport into central London, Heathrow and Luton Airports. Harrow is also linked directly to the Crossrail & HS2 by an extension from Old Oak Common, just 3 miles from the borough’s edge.
Fraser & Co Properties Located in Harrow.
Starting from £319,950
• Collection of 1-3 bedroom apartments
• Excellent location
• Great transport links
• 0.3 Miles from Harrow on the Hill station.
• Estimated Completion Q3 2019 – Q1 2020