The London property market has showcased a strong first quarter as home-owners are rushing to beat the stamp duty holiday deadline and taking advantage of mortgage rates, which are at an all-time low.
Investors are looking intently at potential prospects for 2021. As we assist them in making the best choices for both themselves and their families, the year of the Ox continues to confidently bring them an opportunity they should not miss to invest in London property.
Despite the uncertainty resulting from rough waters created by the pandemic and the Brexit results, there are positive hints of price and yield increases around London, particularly on the outskirts of it. While WFH is a definite need during these tough times, both owners and renters who work from home foresee the chance to move to bigger spaces to make WFH a comfortable option for them.
Here are 5 London locations worth considering if you're looking to find a home or an investment in an area on the up.
Brent Cross
Brent Cross is an area in North West London, known for its huge shopping center as well as more recently the buzz that's developed around the upcoming Brent Cross Re development by Argent Related. Known as the capital's most ambitious regeneration plan, it's truly something to behold.
The new Brent Cross Town will bring exciting changes including 50 acres of new parkland and playing fields. It will become a major new office destination with 3 million sq. ft. of office, over 6,000 homes, restaurants and cafés as well as various new sports and leisure facilities. A new railway station is also under construction and will be open in about a year's time. Times are certainly changing!
The most exciting thing for me about this area is that the lead developer agent is Argent Related. AR has successfully transformed Kings Cross into central London's most vibrant city hub. It's truly a regeneration to behold and you only have to walk out of Kings Cross train station to see the proof in the pudding. Brent Cross is their next ambitious mega project! Brent Cross will be the go-to destination for not only the local community, encouraging them to participate in sport and leisure On their doorstep, but it will also continue to draw crowds form all over the country for the shopping facilities. It will be an unrivalled, multifaceted destination that will embed values of community, inclusion and active, healthy lifestyles for residents, office workers and visitors.
In my humble opinion, investing in the early stages of this exciting new town will be a no-brainer for HK investors. Do keep an eye for this valuable opportunity!
Yan Yan
Associate Director, International Residential
Bayswater
I need to confess that Bayswater in London used to be my local hangout. Not only was my office just around the corner, but also the delicious roasted duck from one of the most famous Chinese restaurants in town always brought me back. Therefore, when I first heard that this buzzing and lively area is going to be completely regenerated, I was and still am delighted, excited and strongly believe that this last hidden gem in the West End is going to shine more brightly than ever. Bayswater definitely deserves something better than shabby hostels for backpackers or soulless souvenir shops. The most game-changing project will be the famous listed Whiteleys department store building which will be transformed into flats and townhouses, along with 100,000 sq. ft. of retail shops, a cinema and a boutique hotel. This will be the new shopping arcade with a public courtyard. I cannot wait to see the redevelopment of London's first department store which is set to change the landscape and offer a new style not seen before in my beloved Bayswater.
Kenny Law
Associate Director, International Residential
Nine Elms
Nine Elms is the fastest changing neighborhood in Zone 1, with 5,000 residential units having been completed over the past five years along with office spaces, retail & leisure areas. A few big brand names are coming into the area, such as Apple, which will be occupying around 500,000 sq. ft. of office space this year, with both the Northern Line Extension & the Battersea Power Station set to open in the second half of 2021. This will be key to making the neighborhood more accessible, paving way for further development and expansion.
The luxury hotel group "Park Hyatt" will open in 2022, situated in the heart of the R&F UK's Nine Elms development "One Thames City". They will comprise 203 rooms, and many will have the magnificent river Thames as views to enjoy, being able to see Westminster Abbey, Big Ben & London Eye.
These have all played their parts in establishing an even more appealing, inclusive & energetic community, it is easy to say that 2021 will be the year when Nine Elms comes of age. This will significantly boost the attraction and vibrancy of the area and will help push both residential values and rents notably higher.
Clement Lai
Director, International Residential
Hackney Wick
Hackney has become famous for attracting an artistic crowd. The area is ideal if you are looking for a trendy neighborhood with plenty of cool places to chill out. The canal network which offers idyllic walks, perfect for dog-walking or running, dotted alongside are lively places to eat and drink. There is a canal side community here with businesses based on the canal boat including bakery, a barbers and lots of floating bars (Barge East is the most popular one amongst locals and one of my favourites).
If you are looking to balance the city life with a more relaxed atmosphere, than Stratford is a great option to consider. The area had transformed and continues to change even after the Olympic games. New jobs in construction and tourism have created a multiplier effect. It is estimated that over 20,000 jobs could be created by 2030, bringing more than £5 billion into the area. For those working in the City, It is convenient and well-connected area of London, with the Jubilee and Central lines, overground trains and the soon to be running Elizabeth line which allows commuters to travel to work easily.
Last but not least, The Westfield Stratford is one of the biggest shopping mall in Europe, where you can pick up anything from groceries, electronic, homewares to fashionable labels…. you name it.
Louis Yu
Senior Manager, International Residential
Canary Wharf
For the last three decades, Canary Wharf has been the thriving centre of business and culture, which has shifted London's centre of gravity towards the East, setting new standards for urban spaces. Now the most exciting evolution has begun – the creation of the thriving new communities.
Living in Canary Wharf, you can spend quality time outdoors, leisurely stroll along the waterside at South Dock Park that has been designed to help residents feel joyful or go offline at Jubilee Park to tune into nature’s tweets. It will be both an oasis of calmness and one of the most well-connected neighbourhoods in Europe. It will be just as easy to grab the essentials of daily life as it will be to take in live music or enjoy the theatre.
Construction of the Crossrail station at Canary Wharf was completed ahead of schedule. It will be speeding passengers from Canary Wharf to the City in 6 minutes, to the West End in 13 minutes and to Heathrow in just 39 minutes. Canary Wharf is already extremely well-connected. The upcoming opening of Crossrail's 'Elizabeth Line' will put a world-class high-speed railway just a short walk from your front door.
Michelle Liang
Senior Manager, International Residential