The Vauxhall, Nine Elms and Battersea areas are known as the fastest changing neighbourhood in Zone 1 and set to come of age in 2021.
Battersea Power Station would not only deliver around 250 residential units. It would also become Central London’s third largest shopping destination. The area promises 20,000 employment opportunities and expectancy of 40 million visitors a year.
Companies like Apple are building its 500,000 sq ft office space in 2021.
JLL’s latest forecast have shown that there would be a 19% sales price growth and 18% rental growth in the next five years. The significant increase in rental growth is attributed to the key transport facilities including the Northern line extension in second half of 2021.
In the last five years, 4,996 private new build units have been completed. Around 4,810 units are currently under construction with 8,105 units in the development pipeline. The plans also include another 900 private units in the hitherto undeveloped Oval area.
Residential unit prices are the highest in Albert Embankment, ranging from £1,300 to £1,800 psf. On average, residential units in Nine Elms and Vauxhall would be priced around £1,000 to £1,600 and £1,100 - £1,600 psf respectively.
Educational universities in these uprising areas include Lambeth College, Royal College of Art, South Chelsea College, London School of Economics, CASS Business School, Imperial College London, Kings College London and London Metropolitan University.
Featured Projects
Embassy Gardens
Embassy Gardens is located in Nine Elms Lane, London SW8. The residential building comprises approximately 15 acres and would deliver up to 2,000 new homes plus office and flexible work space, new leisure facilities, 130,000 ft² of retail, bar and restaurant space including a new Waitrose supermarket. Phase 1 comprises of 3 buildings and approximately 600 units. The building is expected to be completed in year 2021.
Prince of Wales Drive
Prince of Wales Drive is a large development with multiple buildings. Set within 2.5 acres of beautiful landscaped gardens, these spacious apartments offers state-of-the-art residents' facilities including a 17m pool, sauna, steam room, resident’s roof terrace, 24-hour concierge and secure basement parking. The development is close in proximity to Battersea Park and existing transport connections at Battersea Park and Queenstown Road. Other benefits include the Northern Line extension and the future progression of the Nine Elms area.
Batterseas Power Station
The iconic Grade II* listed Battersea Power Station building and surrounding area is being brought back to life as one of the most exciting and innovative mixed-use neighbourhoods in the world – a place for locals, tourists and residents to enjoy a unique blend of restaurants, shops, parks and cultural spaces. The neighbourhood has been carefully curated to be a thriving quarter right on the River Thames. The vibrant Circus West Village already features world-class bars and restaurants, interspersed with the finest British and global retail brands. The addition of Electric Boulevard looks set to create an irresistible shopping and leisure destination. The new Zone 1 Northern Line Extension would be a gateway to ensure Battersea Power Station is well connected to the whole of London.
The Dumont
The Dumont is a new landmark residential development, comprised of a mixture of apartments and penthouses. Located on the Albert Embankment, The Alta Collection is an exclusive portfolio of 4 bedroom homes within The Dumont framed by open living spaces
to showcase the far-reaching waterside views towards Chelsea, Battersea, the City and The Houses of Parliament.
Completing in Spring 2020, the homes would provide a sanctuary on the banks of the River Thames. Residents will benefit from a plethora
of nearby famous landmarks including Tate Britain, Palace of Westminster and South Bank. The Clairmont is one of the most enviable homes in The Dumont, with access to its own jacuzzi and outdoor kitchen to provide the perfect outdoor entertaining
space with direct river views. This Zone 1 location is within a short walking distance to Vauxhall national rail station and underground station connecting residents to the City and West End. For a more scenic route into central London, the Thames
Clipper is accessible from Vauxhall St George Wharf Pier.
For more information about residential developments in Vauxhall, Nine Elms and Battersea, you may contact JLL International Residential at +603 2260 0700 or Wong.Christine@ap.jll.com.
