JLL’s research has revealed that the price growth in South East London is forecasted to accelerate by 18% from 2020 to 2024, given greater certainty to the real estate market. Rental growth is expected to increase by similar percentage in the same period, indicating that the market will remain strong and steady.
South East London has the most significant regeneration areas in London and among the notable areas include Elephant & Castle, Kidbrooke Village, Aylesbury Estate, Canada Water, Greenwich Peninsula and Greenwich Millennium Village. There are also the unstarted Convoys Wharf, up and coming rediscovered Old Kent Road Corridor and Bermondsey.
“The housing market in the South East has been rejuvenated in the past few months. Buyers seem liberated and eager to purchase while we have seen many homeowners return to the market to sell now that the logjam has been freed,” says Graham Lawes, Director of Residential Sales at JLL Greenwich.
The splendour of South East
Homebuyers and investors are attracted to this part of London due to many reasons and high on the list are excellent transport links into Canary Wharf and to other Central London employment hubs. The introduction of the Bakerloo Line Extension would further improve the connectivity in parts of South East London.
Greeneries surrounding the space include Greenwich Park and Blackheath, whilst other landmarks are Royal Observatory, Cutty Sark, National Maritime Museum and 02 Arena. Prominent education institutions are The University of Greenwich, London South Bank University, The University College of Osteopathy, Ravensbourne University London and Trinity Laban Conservatoire of Music and Dance.
Bermondsey – A new wave of change
The population of South East London is forecasted to increase by around 16,000 people to 388,000 people in the period of five years. Majority of the residents are working professionals aged 25 to 34 years old.
This includes Bermondsey which has made its name by bagging the title of Sunday Times Best Place to Live.
Further to the redevelopment plan and expansion of Jubilee Line station, the pricing of new build apartments would be £700 - £950 psf. The rental pricing of one bedroom apartments can go up to £1,450 – £1,700 pcm.
One of the most outstanding projects in Bermondsey is the London Square Bermondsey scheme. The scheme involves the most recently launched phase The Pickle Factory, which would deliver 271 private units.
London Square – The Pickle Factory
The London Square – The Pickle Factory, known as The Tannery is a striking new building which features one to three bedroom apartments, with split-level designs and townhouse style privately accessed duplexes.
The City, London’s financial heartland is 10 minutes by underground from Bermondsey.
There are an estimated 24,420 finance and insurance businesses based in the City. On top of that, city institutions and employers are the Stock Exchange, Bank of England and Lloyds of London.
Global companies in the City include Aviva, Lloyds Banking Group, BT Group, Unilever, Prudential and Standard Chartered and leading law firms such as Allen & Overy, Linklaters and Slaughter and May.
London Square Bermondsey is also a few minutes’ walk away from More London, a location known for many professional and financial services firms. These firms are Ernst & Young, PricewaterhouseCoopers, Norton Rose Fulbright, Markit Group and Hitachi Consulting.
The nearest Underground stations to London Square are Bank (1 minute), Moorgate (3 minutes) and Waterloo (3 minutes).
For more information on London Square and other residential properties in South East London, contact JLL International Properties at +603 2260 0700 or Wong.Christine@ap.jll.com.
