Few parts of London have experienced as much regeneration in recent years as Southwark. The once run-down area has been given a brand-new lease of life, and the creation of new homes means that increasing numbers of people are moving in and calling Southwark their home.
Thus far, the new developments have been a real hit with homebuyers. Here’s more information.
Peter John, councillor for Southwark, declared back in 2014 that he was “trying to get as many homes as possible built”, in a bid to meet rising demand. He also emphasised that he wanted “high quality housing for all, from council houses to homes for millionaires.”
Since then, the area has seen a considerable number of new developments being built, notably the exciting redevelopment of the Aylesbury Estate, which promises to deliver 3,500 new homes, of which 50% will be affordable housing. The development, like so many others in Southwark, will also offer improved community areas and amenities.
Elephant and Castle
Major works are afoot in Elephant and Castle too, with a total of 19 regeneration projects currently in progress. Elephant Park is a particularly noteworthy development, which will offer close to 2,500 new homes, not to mention the largest new green park in London to be created in 70 years. Borough Triangle, Elephant Road and Chatelain House are other prominent developments which will further boost the number of available houses.
Likewise, a new town centre is being made, which among other things, will bring 979 new homes to the community. This, in addition to other exciting new developments such as The Levers, looks set to transform Elephant and Castle into a thriving residential area.
Why This Area?
Southwark has so much going for it that it’s easy to see why the council are so keen to create more housing. It’s a location that’s ripe for serious economic growth, and this in turn will further boost public facilities, not to mention attract more businesses into the area.
Here are just a few reasons why it’s worthwhile searching for property in Southwark:
- Great location. It’s so easy to get around London from Southwark. In addition to the Underground train services connecting residents to Central London and beyond, the Millennium Bridge (the city’s first pedestrian-only crossing) means you can walk to St Paul’s within a few minutes.
- Culture. It’s a popular location, thanks to The Tate Modern and Shakespeare’s Globe Theatre – two of the capital’s most popular attractions. There are countless other gems in the area too, such as Surrey Docks City Farm and The South London Gallery.
- Shopping. Retail fanatics well catered for in Southwark, thanks to its many shops – ranging from high street favourites to boutique independent stores. Borough Market is also a major draw, especially for foodies looking for a regular source of fresh produce.
When’s the Right Time to Buy?
With the property market booming in Southwark, it’s advisable to start your search as soon as possible, as it’s likely that prices will continue to rise. The new developments are proving to be particularly popular too, which isn’t surprising, given the high standards of living they offer homebuyers.