London’s status as a global property hotspot and safe haven for investment is longstanding, given its role at the epicentre of international business and finance, world-class education, and rich culture and heritage.
Despite several years of uncertainty, the UK capital retains this leading position as a highly attractive investment destination, most recently topping the list as the world’s most favoured city for combined investment and development prospects for the year ahead (according to PwC and the Urban Land Institute’s 2022 Emerging Trends in Real Estate – Road to Recovery survey).
With central London’s recovery on an upward trajectory, the early winners are apartments – with new data reporting a 1.1% annual price growth for flats in prime central London and 1% growth in outer prime London in 2021. The ongoing relaxation of travel restrictions – and an increasing number of daily flights into the UK – is set to further bolster interest and the capital’s recovery, with this return to the capital fuelled by buyers on the hunt for a London base.
Longer-term, it is forecasted a 24% growth in values in the five years to 2026 – at which point values will return to their previous 2014 peak level for the first time – making now an ideal time for investors those looking to capitalise on the potential long-term capital growth.
Stretching along the south bank of the River Thames, from Lambeth Bridge to Chelsea Bridge, the 227-hectare regeneration of the Vauxhall, Nine Elms & Battersea regeneration area – central London’s largest regeneration site – has, for several years, been one of the most talked-about projects in the capital.
The centrepiece of this new neighbourhood is Battersea Power Station, an iconic Grade II* landmark of London’s cityscape, which is being transformed into a thriving hub to live, work, shop, eat and enjoy. This exciting evolution of the area is also drawing in global powerhouses of business, with Apple is set to open a new campus at Battersea Power Station itself, and the US Embassy and Penguin Random House both located in wider Nine Elms.
Most recently, the opening of the much-anticipated Northern Line Extension, which saw the opening of two new Underground stations – Battersea Power Station and Nine Elms – has solidified the area’s status as one of London’s most sought-after residential and business districts.
Representing the capital’s first major tube extension this century – and the first time Battersea has had a tube connection – the new openings significantly boost the area’s connectivity. With London home to a host of the best respected universities in the world – a key driver for many international property investors – residents of Battersea and Nine Elms are now even better placed for access to academic institutions including University College London, London School of Economics and King’s College London.
Whilst it might be famed for the imposing Battersea Power Station, what this leafy Thames district is perhaps most renowned for is its abundance of verdant green spaces, access to which is all the more important since the onset of Covid-19. The beautiful and historic Battersea Park, which spans 200 acres and sits along the riverfront, provides not just a park but home to a variety of sporting facilities, outdoor pursuits and even a zoo.
Prince of Wales Drive – Battersea’s most exciting residential opportunity
With Battersea and Nine Elms fast emerging as the go-to hotspot for global investors, leading property developer, St William, part of the Berkeley Group, has brought forward an exciting new addition to the area: Prince of Wales Drive.
In a prime position neighbouring Battersea Park – and the closest new development to the new Battersea Power Station Underground Station – Prince of Wales Drive brings together exceptional new homes, luxurious residents’ amenities and 2.5 acres of landscaping and green open space, all on the doorstep of everything the revitalised Battersea Power Station has to offer.
So Phary, [3/1/2022 5:10 PM]
The final phase of this exclusive new address is Upper Park Residences, where prices start from £785,000. Encompassing an exceptional range of one, two, three and four-bedroom apartments with spectacular views over neighbouring Battersea Park, the River Thames, Battersea Power Station, and across the skyline to the City of London.
To date, St William has unveiled the first two buildings within Upper Park Residences – the 22-storey Park East, and Park Central, a striking 27-storey campanile tower which establishes a bold centrepiece for Prince of Wales Drive. With just two apartments to each floor within Park Central, and just one residence to the upper floors, homes enjoy ultimate privacy as well as far-reaching wraparound views.
Inside, the spacious apartments are designed to maximise space and light, with floor-toceiling glazing and flexible interior layouts. Every home at Prince of Wales Drive boasts private outdoor space in the form of a balcony, with many featuring winter gardens to maximise living space.
Residents also enjoy access to an impressive suite of private facilities, including The 1882 Club – a collection of hotel-style residents’ amenities including a games area, karaoke room, music room and library, as well as a private cinema room and more relaxed viewing rooms – which are privately bookable for residents’ enjoyment. In addition, responding to the rise of flexible working, hot desk workspaces, pod rooms and a boardroom are available for those working from home.
Source: The edge market
