All Hail Battersea

All Hail Battersea

Battersea, London London is no stranger to regeneration. Some of the trendiest areas in London are a product of redevelopment. Hackney was once the poster district for London’s crime and today the regenerated factors is now a beacon of creativity and very much a tourist attraction for oversea visitors. Likewise, Streatham, a significantly wealthy area

All Hail Battersea

Battersea, London

London is no stranger to regeneration. Some of the trendiest areas in London are a product of redevelopment. Hackney was once the poster district for London’s crime and today the regenerated factors is now a beacon of creativity and very much a tourist attraction for oversea visitors. Likewise, Streatham, a significantly wealthy area in the 1920s, when left to its own devices has lost this reputation.

The Millionaire Millennial

As millennials begin their journey into investment, the desire to follow in the property footsteps of their parents has dwindled. Instead of desiring luxury areas such as Knightsbridge, the investors of today are favouring the electric atmosphere of Battersea, Peckham and Brixton.

Theatreland 2.0

Today a prime location for London’s regeneration scheme is none other than Battersea. At one point, the South West London area was famous for the industrial slums by Clapham Junction and the housing estate which garage musical collective, So Solid Crew were founded on.  In a bid to compete with their traditionally luxurious counterparts such as South Kensington, the Borough of Wandsworth has invested in the future of the borough to benefit from London’s reputation of a thriving cultural scene, most dominantly, theatre.

Situated beside Battersea Powerhouse, the 200-seat Turbine Theatre, opening in August 2019 is expected to be a celebration of new writing led by Artistic Director, Paul Taylor-Mills.

“I’m elated to be launching a brand-new theatre at the iconic Battersea Power Station. The vision is a simple one, to enable world class artists to tell stories that enchant at the Turbine Theatre and eventually play beyond our London home. We’re interested in being the starting point for new shows and also reimagining the older ones. It has been a lifetime dream of mine to have a home for my ideas that feels authentically ‘me’”.

A Battersea of the future

Battersea Power Station

Once an industrial powerhouse, Battersea Power Station is an iconic member of London’s skyline featured in films including Children of Men, The Dark Knight. Since being decommissioned in 1983, many developers have placed bids to breath new life into the iconic landmark with proposals including a theme park and football stadium.

In 2012, S P Setia Berhad, Sime Darby, and Employees Provident Fund agreed to acquire and develop the historic site into London’s newest neighbourhood. The first phase, Circus West Village featuring apartments, shops, cafes and restaurants opened in Spring 2017.

The next phase includes the highly awaited opening of Battersea Power Station itself and the Northern Line extension, both anticipated to be ready in 2021. Additionally, the Power Station will see a new high street, Electric Boulevard, which will include shops, cafes, restaurants and approximately 539 homes including luxury penthouses.

The £9 billion 42-acre development, is set to comprise three floors of shops, bars and restaurants, including an entire floor dedicated to food. There will also be a boutique cinema, a 1,500-capacity event space, 450 metres of riverside frontage and a six-acre power station park beside the Thames.

Taking full advantage of the growing tech sector, the power station will be a business hub featuring 1.25 million sq. ft. office space. 500,000 sq. ft. of has been secured by The Apple Group for its new London Campus while No 18, a Swedish business members club, is leasing 40,000 sq. ft.

Final Note

London will continue to be beacon of economy, culture and education, so London will continue to be a hotspot of investment.

Philip Mason, international sales director at Battersea Power Station Development Company, said at a recent media briefing for Phase 3A: “Besides the iconic building, there is always a reason for everyone to come here. The Northern Line Extension (Battersea Power Station) will be a boon to attract more investors and visitors, giving accessibility to the two hubs of the city – the financial and cultural districts.”

“London is never going to be cheap. Those who wanted to invest, better do it now. A lot of people from overseas have already started investing in London,” Mason added.

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London Property Investment

London Property Investment

Despite the impending presence of Brexit, London stands tall as a property investment icon, Boasting world-class theatre, state-of-the-art education and a £565 billion economy. A melting pot of culture The capital is the largest city in both the UK and European Union with an estimated 8.8 million population. Covering 607.12 sq. miles, equalling to 22,250

London Property Investment

Despite the impending presence of Brexit, London stands tall as a property investment icon, Boasting world-class theatre, state-of-the-art education and a £565 billion economy.

A melting pot of culture

The capital is the largest city in both the UK and European Union with an estimated 8.8 million population. Covering 607.12 sq. miles, equalling to 22,250 residents per square mile, London continues to be in high demand for property. Offering an array of industries from retail to fashion, London is considered one of the most diverse cities in the world for ethnicity and religious beliefs.

Christian48.4%
Muslim12.39%
Hindu5%
Jewish1.82%
Sikh1.5%
Buddhist1%
Other0.6%
No Religion20.73%

 

Of the 8.8 million people living in London, 37% were born outside of the UK; two thirds from outside of the European Union. According to the 2011 Census, 262,247 people living in London were born in India. As more opportunities are conceived in London the numbers are predicted to grow to up to 10.5 million by 2035.

YEARPOPULATIONGROWTH RATE
203510,556, 4860.63%
203010,228,0510.78%
20259,840,7421.13%
20209,304,0161.39%
20199,176,5301.45%
20158,661,3811.49%
20108,044,4331.41%
20057,501,2170.62%
20007,272,8190.68%
19957,029,5080.68%
19906,794,4000.16%

 

An American in London

The rise of the tech sector in London, most predominately Silicon Valley Tech Giants, have boosted London’s property market. US property investors are soaring through Marylebone, Mayfair, and Chelsea. Accounting for 6% of all sales by foreign buyers in London, second only to Chinese buyers, President Trump’s relaxation of tax laws governing repatriation of money held over-shore which has freed hundreds of billions of dollars for investment in blue chip assets.

Saudi Arabia£13.4 million
Turkey£10.8 million
Germany£9.8 million
Russia£9.1 million
USA£7.3 million

 

Property developer, Knight Frank established that Americans have paid an average of £7.3 million for Central London homes this year in Marylebone. Liam Bailey of Knight Frank claims “the pound’s weakness against the dollar since the Brexit referendum combined with weaker underlying prices had made London more affordable, but the huge sums being ploughed into the tech giants and hedge funds are the driving factor.

There has been a significant uptick in demand for prime property from relocating US employees, entrepreneurs, and business owners. Among the market leaders are Google’s £1 billion European headquarters in King Cross, Facebook’s engineering hub at Rathbone Place and Amazon UK’s headquarters in Shoreditch.

The new face of the tech sector

The past decade has seen London evolve into the tech hub of Europe, with a new generation of leaders. The millennials leading the tech sector demand action on major issues including climate change, mental illness and work life balance. Commercial property is seeing their influence and meeting their perquisites via ping pong tables, remote working capabilities and multipurpose spaces.

The tech sector is expected to be the leading industry in London in the next ten years. Currently, Canary Wharf hosts more than 35,000 tech workers. In preparation for the upcoming economic changes, property developers are already preparing to accommodate this.

Image: CanaryWharfGroup

Wood Wharf is set to become the districts largest regeneration development. A major requirement for this generation of leaders is access to outside space and the latest 5G networks. A £5m sq. ft project with more than £2m sq. ft of commercial leasing, distinctive workplaces, and interconnected public space is being built to meet the demands of the tech-heavy tenant.

Hotspot Neighbourhoods

London attracts all sorts of people for its variety of experiences. In 2019, the most in-demand region is East London. London has always been notorious from its innovative creative scene, and with more independent galleries, creative start-ups, young professionals and couples are heading to the regeneration sector of East London.

Generation DINKY

ONS figures showed that in 2017 the proportion of women never having children has doubled in a generation. A Savills study reported that the DINK generation (Dual Income No Kids), possessing a combined income of £80,000 where the older partner is 26-35 are heading towards South and South East London including prime riverfront addresses from London Bridge, Bermondsey and East Putney,

“There is definitely the attraction of water at play,” says Lucian Cook, head of residential research at Savills and author of the report. “They are going to be slightly less concerned about family things,” he says. “It’s all about leisure and amenity.”

London of the Future

As the capital city, London is continuously subjected to regeneration to continue its position as an economic powerhouse of Europe.

Tulip Tower

The 1000ft proposed Tulip Tower is intended to reside by the Gherkin, making the skyscraper the second tallest structure in Western Europe, featuring a viewing platform with rotating pods. The Tulip will include a restaurant and sky bar in addition to a floor for educational purposes during school hours.

Infinity Pool

Designers Compass Pools, are proposing a ‘world’s first’ transparent infinity pool on top of a 55-storey building providing 360-degree views of London. To not jeopardize the view, a spiral staircase will rotate and rise through the 600,000-litre pool to provide access.

Hackney Wick

Since the construction of Queen Elizabeth Olympic Park, investors and developers alike, have seen potential in the east London area. Once industrial buildings are being converted into luxury apartments and residential sites such as The Bagel Factory are are drawing in many young professionals for the supply of an alternative social scene.

North Bank

To contest with the South Bank, Westminster Council will fund a £28 million scheme to redevelop the North Bank. Home to Somerset House and The Savoy Hotel, the North Bank will replace Aldwych gyratory system with a two-way road and a new plaza is to be installed by St Mary le strand church. Additionally, the Strand from Aldwych to Melbourne Place to the east will be pedestrianised and lined with cherry trees. The riverbank will be opened up to become a cultural quarter lined with restaurants, bars and a retail to compete the Southbank.

Elizabeth Line

The Elizabeth Line is Transport for London’s new rail line, currently being built by Crossrail Ltd, is expected to service approximately 200 million people every year. Stretching more than 60 miles from Reading to Shenfield, the Elizabeth Line stops at 41 stations, 10 new newly build stations and 30 newly upgraded.

Final Note

As the capital, London is the first stop for regeneration, historical value, education, culture, as evident by its 8.8 million population. Despite Brexit, as long as London continues to be a global phenomenon, it is a formidable location for student, commercial and residential property investment.

Ready to see London properties? Email us at info@tarquinjones.com for more details.

 

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The rise of the DINK

The rise of the DINK

In 2019, there are more child free adults than ever before. While, for those born in 1946, only 9% had no children at the age of 45, whereas for women born in 1970, this figure has risen to 17%. A US study discovered that 1 in 5 women enter menopause without children. Additionally, birth rates

The rise of the DINK

In 2019, there are more child free adults than ever before. While, for those born in 1946, only 9% had no children at the age of 45, whereas for women born in 1970, this figure has risen to 17%. A US study discovered that 1 in 5 women enter menopause without children. Additionally, birth rates among women in their twenties declined by 15% between 2007 and 2012.

The reasons why so many couples adopt a Dual Income, No Kids lifestyle, commonly known as DINK, is varied. For some the financial burden of raising a child is more trouble than its deemed worth and for others, it means sacrifices to lifestyle and career aspirations. Without the responsibility of children to cater to, the rise of DINK, the demands for property are not what they were for young professionals of Baby Boomers and Generation X.

What DINK mean for the property market?

Imperial Square, Luton

ONS figures showed that in 2017 the proportion of women never having children has doubled in generation.

Leisure & Amenity

Infinity Towers, Liverpool

Young professionals today are interested the trendy new neighbourhoods. Without the pressure to consider a property’s proximity to schools and day-care the focus for many tenants now is convenience. After working all day, and in some instances earning from a second job, the Millennial generation are interested in homes which offer closeness to shops and travel links.

Work Life Balance

The Tannery, London

In 2019, the UK is more career driven than ever before. A booming economy mixed with the impending launch of HS2 and mass regeneration schemes, means over 250,000 jobs are being launched in the UK by 2030. As a result of this, generation rent is drawn to city centre properties to stay in the heart of their working life.

Student Housing Demand

Marvel House, Plymouth

In 2018, 2.3 million students were recorded to be in higher education. Entrepreneur reported that 24% intend for pay for higher education via savings and 38% plan to work during their university studies. Higher education is at an all time high since the launch of the postgraduate government student loan. As more students stay in education for longer to gain qualifications such as an MBA and PhD, often via part-time study, instead of starting families the demand for student housing will increase.

Luxury Lifestyles

Hadrian’s Tower, Newcastle

Without adhering to the practicalities of raising children, tenants are desiring homes to suit their personalities and lifestyles. For example, 2019 saw an increase in properties with pools and audio door entry systems. Favouring state-of-the-art design specifications including private lounges, the demand for luxury property is increasing across the country.

Travel Pursuits

Epic Hotel, Liverpool

A chief reason, many adopt a DINK lifestyle is the sizeable disposable income, which can be used for travel. The rise of the staycation, has seen a dramatic increase in domestic holidays. As cities within the Northern Powerhouse gain regeneration, the rise in UK’s tourism to serene areas will benefit from the child-free movement.

Entrepreneurship

The Bridge, Kirkcaldy

Among Generation Z, working to suit your lifestyle is a priority. Entrepreneur announced 41% of Generation Z intend to start their own businesses instead of continuing the Millennial trend of side jobs. The rise is e-learning opportunities focusing on creative arts and business is predicted to be worth four times more than the higher education market. As a result of this, the demand for office space will increase.

Old Age

Bryn Illtyd Ltd, Wales

Without the comfort of having children to take care of them in old age, DINK jetsetters will be desiring Care Homes in the future.

Final Note

As the economic climate changes, the demands for property respectively alters. With more favouring an enjoyable lifestyle and the financial benefits that come along, the demand for family friendly property has seen a sharp reduction.

 

 

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Neighbourhood Watch: Stratford, London

Neighbourhood Watch: Stratford, London

Stratford Property Investment Transformed for the 2012 London Olympic Games, Stratford is a thriving shopping and leisure hub in East London. Transport   Stratford is an important transport hub for East London, connecting directly to most parts of London via Crossrail, underground (Central & Jubilee line), overground & DLR. From Stratford Station, journey times are

Neighbourhood Watch: Stratford, London

Stratford Property Investment

Transformed for the 2012 London Olympic Games, Stratford is a thriving shopping and leisure hub in East London.

Transport

 

Stratford is an important transport hub for East London, connecting directly to most parts of London via Crossrail, underground (Central & Jubilee line), overground & DLR. From Stratford Station, journey times are just 8 minutes to Canary Wharf and less than 20 minutes to the City and London City Airport.

Stratford is also home to Stratford International Station and Stratford Regional Station. Stratford International provides the only high-speed commuter service in the whole of Britain by taking a Southeastern train, which goes across Kent and East London through Stratford to St Pancras International. It takes an hour to Dover Priory, 1 hour 20 minutes to the seaside at Margate and just 7 minutes to St. Pancras.

From Stratford Regional Station you can take Abellio Greater Anglia trains to Stansted Airport in an hour (via Tottenham Hale), to Liverpool Street Station in less than 10 minutes for The City’s major businesses, and to stations across Essex and East Anglia, like Norwich with its historic castle in 1 hour 49 minutes.

Education

 

Stratford is set to become a university and arts district. Work has begun on the new campus for University College London in Queen Elizabeth Olympic Park.

The UCL East campus, Marshgate 1, will be a landmark academic building with laboratories, exhibition spaces and workshops in the shadow of the ArcelorMittal Orbit sculpture. Due to be completed in 2022, Marshgate 1 will be followed by more university buildings, including Pool Street West with 500 student rooms, teaching space and amenities.

Lucian Cook, head of residential research at Savills, said the investment of a reported £1.2bn in educational and cultural facilities will enhance Stratford’s status as a major London centre. “After a period of high price growth, we are now at a different stage in the property cycle, and can expect lower house prices over the next five years.” However, this big-scale regeneration could give Stratford property prices a boost.

“It already has better retail and transport, and the addition of cultural and educational facilities will create a better environment which will help support house prices.”

In addition to BBC Music and a new dance theatre for Sadler’s Wells, London College of Fashion (part of University of Arts London) is opening a new site in Stratford’s East Bank London.

The new campus in Stratford will house multi-purpose lecture theatres to be used for classes, as well as, community events. There will also be public spaces featuring work from some of the courses, art and a café. Additionally, the new site will have specialist teaching spaces for media, communications and the fashion business school.

Regeneration

 

Since the 2012 Olympic Games, Stratford has transformed from an industry and railway focused area, to a cultural and commercial hub. Today, it is home to some of the country’s best sporting facilities, including London’s Aquatic Centre, the Velodrome and London’s biggest shopping centre, Westfield Stratford.

Investment motivated by the 2012 Olympics, has seen Stratford emerge as a popular residential area, forecasted to reach £22 billion in investment by 2025. The arrival of the high-speed Crossrail service in 2019 is expected to drive up demand from renters looking for well-connected property at more affordable prices than Central London. Along with the conversion of purpose-built Olympics venues such as the Athletes Village into rental property, over 1,000 new homes are being constructed in Stratford under the Chobham Farm Masterplan to meet this growing demand.

A £1.1 billion waterside cultural quarter due to open in 2023 is being developed with mix of cultural, scientific and education institutions, green spaces and homes.

Culture

 

With over 1.8 million square feet of retail and leisure space at Westfield Stratford City, schools and health facilities at the Olympic Village, world-class universities within easy reach and one of the largest urban parks in Western Europe on the doorstep, Stratford sets the standard for 21st century urban living.

Sport

 

Queen Elizabeth Olympic Park is home to the London Aquatics Centre with its wave-shaped roof, the London Stadium, and several play areas. Towering over the park, ArcelorMittal Orbit is a spiral sculpture with a tunnel slide.

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Neighbourhood Watch: Canary Wharf, London

Neighbourhood Watch: Canary Wharf, London

Canary Wharf Famous for its reputation as London’s global financial centre, Canary Wharf has become one of the capital’s most popular addresses for residential property investment. Regeneration, Crossrail and property demand have together sustained strong capital growth in Canary Wharf of up to 50%. Transport   Canary Wharf benefits from the extensive public transportation options

Neighbourhood Watch: Canary Wharf, London

Canary Wharf

Famous for its reputation as London’s global financial centre, Canary Wharf has become one of the capital’s most popular addresses for residential property investment. Regeneration, Crossrail and property demand have together sustained strong capital growth in Canary Wharf of up to 50%.

Transport

CANARY WHARF UNDERGROUND STATION

 

Canary Wharf benefits from the extensive public transportation options across DLR, Underground and Thames Clippers.

The Dockland Light Railway (DLR) is London’s only automated metro system, build to serve the Docklands rapidly transforming business district. The service links the capital’s two financial hubs- the City and Canary Wharf, and will also link to the immense investment being generated across the Royal Docks.

Located on the Jubilee line, Canary Wharf benefits from an approximate two-minute journey time between underground stations. Alternatively, Thames Clippers provides a fast connection from Canary Wharf to key commuter hubs including London Bridge and Waterloo.

 

Regeneration

London City Airport

Formally the busiest shipping port in 1802, Canary Wharf has enjoyed regeneration since the 1990s from infrastructure improvements to business expansions and retail complexes including London City Airport’s £200 million expansion. The London City Airport is set to increase the number of arrivals and departures to 111,000 a year, further endorsing London City Airport as a world class international gateway.

 

Employment

SILICON VALLEY

Led by the tech industry, Canary Wharf’s employment is forecast to rise to 200,000 over the next decade. Today the district is the biggest employer of bankers in Europe and London’s highest salary postcode.

 

Economy

BANK OF AMERICA

With over 97 acres of some of the world’s most highly specified urban architecture Canary Wharf has become a centre of global commerce, overtaking the City of London. From global banks to leading law firms and media agencies, Canary Wharf’s tenants include Bank of AmericaClifford Chance and Trinity Mirror.

 

Culture

WHARF KITCHEN

Surrounded by regeneration and a thriving economy, Canary Wharf is the ultimate lifestyle attracting a variety of clientele including young families and working professionals. Among its decorated accolades from retail to cuisine, Canary Wharf boasts one of the UK’s sizeable collections of public art and the largest health club in Europe.

 

Ready to see London properties? Email us at info@tarquinjones.com for more details.

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Neighbourhood Watch: Llanelli, Wales

Neighbourhood Watch: Llanelli, Wales

Llanelli Llanelli is the largest town in the county of Carmarthenshire and the preserved county of Dyfed, Wales. Located on the Loughor estuary, Carmarthen, Llanelli is famous for its rugby tradition and as a centre of tinplate production. Culture The National Botanic Garden of Wales, situated at LLanarthney in the River Tywi Valley, is both

Neighbourhood Watch: Llanelli, Wales

Llanelli

Llanelli is the largest town in the county of Carmarthenshire and the preserved county of Dyfed, Wales. Located on the Loughor estuary, Carmarthen, Llanelli is famous for its rugby tradition and as a centre of tinplate production.

Culture

NATIONAL BOTANIC GARDEN OF WALES

The National Botanic Garden of Wales, situated at LLanarthney in the River Tywi Valley, is both a tourist attraction and a centre for botanical research and conservation. Featuring the world’s largest single-span glasshouse, you’ll find a range of themed gardens, the British Birds of Prey Centre, a tropical Butterfly House, play areas and a national nature reserve.

Pembrey Country Park

Set against the backdrop of the Gower Peninsula and overlooking the coastal scenery of Carmarthen bay, Pembrey Country Park is one of Wales’ top visitor attractions providing a unique blend of coast and countryside. Set in the heart of a 500-acre country park, bordered by 7 miles of golden sands, Pembrey Country Park is a fantastic campsite with modern, accessible facilities.

 

LLANELLY HOUSE

Llanelly House is one of the most outstanding surviving gems from the Georgian era in Wales. Reflecting the triumphs and tribulations of the town, Llanelly House embraces the industrial revolution and sparking prosperity. The building displays the importance of the town of Llanelli within Wales and the wider world. Showcasing the legacy of the Stepney family, the 18th century surroundings are a popular choice for events, weddings and special occasions.

 

Sport

SCARLETS RUGBY CLUB

Llanelli is one of the most famous rugby towns in the world. It is the focal point for one of the most passionately supported rugby clubs in the world, the Scarlets, holding a rich and unrivalled rugby heritage.

Additionally, Llanelli AFC aka The Reds, are a Welsh Premier Football Club, winners of the Welsh Cup in 2010/2011.

 

Nature

KIDWELLY CASTLE

 

In the beautiful Carmarthenshire countryside, Llanelli benefits from a fascinating blend of modern and historic scenery. A highlight of Llanelli is Broughton bay, a large and sandy bay area, popular with caravan enthusiasts. Embracing the history of the area, Kidwelly Castle, rising above the river Gwendraeth is the ultimate medieval fortress. Beginning in the early 12th century as a Norman ringwork castle made of wood and by the 1280s Kidwelly Castle was transformed into a stone castle within a castle that still stands today.

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Neighbourhood Watch: Walthamstow, London

Neighbourhood Watch: Walthamstow, London

Walthamstow Located in North East London, Walthamstow, nicknamed the London borough of Culture, is an area enjoying extensive transformation, yet still embodying the charmic and electric buzz of the East End of London.   Culture The William Morris Gallery is a stunning memorial to William Morris one of Walthamstow’s most revered artistic heroes. A designer,

Neighbourhood Watch: Walthamstow, London

Walthamstow

Located in North East London, Walthamstow, nicknamed the London borough of Culture, is an area enjoying extensive transformation, yet still embodying the charmic and electric buzz of the East End of London.

 

Culture

The William Morris Gallery

The William Morris Gallery is a stunning memorial to William Morris one of Walthamstow’s most revered artistic heroes. A designer, craftsman and socialist, the gallery contains work by Morris and other like-minded creators who’s work contains his spirit of campaigning. Lloyd Park that surrounds the estate is great for a walk, and it also has a wonderful duck pond to admire.

 

God’s Own Junkyard

One of the most quintessentially unique places in London, God’s Own Junkyard is part art gallery, part museum, part thrift store, part antique show and completely East London. Located by the Wild card Brewery, the warehouse holds neon signs, B-movie figurines and more.

 

Cuisine

Wildcard Brewery

Next door to God’s Own Junkyard, Wildcard Brewery has been pumping delicious beers into London pubs and beyond since their micro-brewery arrived in Walthamstow in 2014. A favourite among the locals, the brewery offers beer beach parties, open mic nights and mini-music festivals.

 

Nature

Walthamstow Wetlands

London’s newest and biggest nature reserve, Walthamstow Wetlands, is a fully operational 211-hectare Thames Water reservoir site, supplying water for 3.5 million people. Providing stunning views, Walthamstow Wetlands is also an internationally important nature reserve, providing home and shelter to a wide range of wildlife, from rare waterfowl to majestic birds of prey.

 

Transport

Walthamstow Central

Walthamstow benefits from being located at the top of the Victoria Line, at Walthamstow Central. Located in zone 3, the same station features on the overground line and operates a busy bus station travelling across London.

 

Retail

Walthamstow Market

With more than 350 stalls, Walthamstow Market is the longest outdoor street market in Europe. From international herbs to stunning fabric, the market embodies the influences of the area’s diverse cultures, while offering the expectedly cockney atmosphere of East London.

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Neighbourhood Watch: Whitechapel, London

Neighbourhood Watch: Whitechapel, London

Whitechapel Whitechapel is a vibrant, multicultural district in the East End of London, with many traditional pubs and curry houses. The lively Whitechapel Market, is a focal point for Asian food, discount fashion, and homewares. The cobblestone alleys here are the setting for guided walks about the 1800s Jack the Ripper murders, while the trendy

Neighbourhood Watch: Whitechapel, London

Whitechapel

Whitechapel is a vibrant, multicultural district in the East End of London, with many traditional pubs and curry houses. The lively Whitechapel Market, is a focal point for Asian food, discount fashion, and homewares. The cobblestone alleys here are the setting for guided walks about the 1800s Jack the Ripper murders, while the trendy Whitechapel Gallery hosts contemporary art exhibitions and film screenings.

Transport

Crossrail

Whitechapel benefits from being well connected to the rest of London via public transport. It has multiple stations:  Aldgate, Aldgate East and Tower Hill (all London Underground stations in ‘Zone 1’), Whitechapel (a London Underground and London Overground station), Shadwell and Tower Gateway (Docklands Light Railway stations) and Fenchurch Street (mainline station).

In addition, Whitechapel will be one of 38 stops along the new Crossrail line that runs from Reading to Essex. Once the line is complete in 2019, the journey from Whitechapel to Canary Wharf will be reduced from 12 minutes to 3 minutes, and the trip to Heathrow Airport to 36 minutes.

Retail

Petticoat Market

Petticoat Lane Market is one of Whitechapel’s most beloved landmarks featuring approximately, 100 stalls, mainly selling fashion, clothing and accessories. A short walk from Petticoat Lane is Whitechapel market. Stretching halfway down the high street, Whitechapel market offers an abundance of fresh fruits and vegetables, plus a variety of Asian cooking ingredients.

Over the last 10 years or so, the Old Truman Brewery on Brick Lane has been transformed with an eclectic mix of vintage stores, microbreweries and delicious wine pop-ups.

Culture

The Whitechapel Gallery

Founded in 1901, The Whitechapel Gallery was one of London’s first publicly funded exhibition spaces, and over the years has hosted some of the world’s most significant artists. Picasso’s Guernicawas displayed at the gallery on its first and only trip to the UK, and artists including Pollock and Frida Kahlo had their London debuts here. The Whitechapel Gallery remains one of London’s key venues in the contemporary art scene, hosting regular retrospective and modern, multimedia exhibitions.

Home to many much-loved animals, from rare breeds to the famous Bayleaf the Donkey, Spitalfields City farm has strong community links and is designed as a learning resource for local. Animals aside, the farm also boasts beautiful gardens, a café and a farm shop. In addition to this, they run regular events including cookery classes and the annual extravaganza of the Oxford vs Cambridge Goat Race.

30 St. Mary Axe also known as The Gherkin, is a marvel of modern architecture with its glass panels and green building strategies.  Mostly home to offices, it also has a number of restaurants, including Searcy’s on the highest floors of the building.

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Why are more and more businesses and workers relocating away from London?

Why are more and more businesses and workers relocating away from London?

Recent reports have shown that more and more companies formerly based in London are relocating their headquarters to more affordable northern locations. It has emerged that a quarter of companies in the capital have seen staff leave as a direct result of the lack of affordable housing. Many of these are moving elsewhere and big

Why are more and more businesses and workers relocating away from London?

Recent reports have shown that more and more companies formerly based in London are relocating their headquarters to more affordable northern locations.

It has emerged that a quarter of companies in the capital have seen staff leave as a direct result of the lack of affordable housing. Many of these are moving elsewhere and big businesses are following suit to keep a large number of their employees.

The Confederation of British Industry (CBI) recently found that 28% (176) of London’s top companies reported that some of their employees had left because they could no longer afford to live in London. Even at a senior level, 59% of the companies surveyed said they had struggled to recruit mid-level managerial staff because of the housing crisis in London, while 22% had had similar issues with senior level staff.

The average house price in London stands now at over £470,000 compared to the UK average of around £225,000. This means that young working professionals are considering their options outside the capital, and with major transport links being enhanced in the future i.e. HS2, it means that people will be able to pay for easy access into London without necessarily paying London prices.

Even at a senior level, 59% of the companies surveyed said they had struggled to recruit mid-level managerial staff because of the housing crisis in London, while 22% had had similar issues with senior level staff.

Birmingham is one such city that is facing an influx of businesses and their employees relocating there. Deutsche Bank and HSBC have both moved to the Midlands city from London recently to capitalize on the cheaper rates whilst putting their trade in one of the UK’s fastest growing cities. Channel 4 is set to move hundreds of staff out of London to Birmingham as well, just reinforcing Birmingham’s overall appeal.

HS2 will be arriving in Birmingham first and will offer a 45-minute journey into London once complete. This will only lead to an increase in those taking up residence in Birmingham especially from London as it will become a commuter zone for workers travelling to and from the capital.

Eddie Curzon, CBI London director, said: “The potent combination of lack of supply and high prices means businesses themselves are being priced out of the market, as they can’t afford to recruit and retain their workers, from entry-level to senior staff.

“And with two-thirds of firms not optimistic the [London] housing market will become more affordable in the next three years, we have a stark challenge on our hands.”

Where are there more affordable options in the UK?

As a whole, prices in the UK are increasing so affordable options are becoming fewer and fewer. However, there are still major cities in which prices are nowhere near the inflated London prices.

Those in search of more affordable places to live will find the best value for money in the north-east, where the ratio of house prices to earnings is 5.18. However, for a stronger housing market with better growth predicted in the future, many are choosing to invest in the north-west, where the affordability ratio is 5.81, and Yorkshire and the Humber with an affordability ratio of 5.91.

The smart investment option is the North West right now with two of the UK’s largest cities, Manchester and Liverpool, undergoing huge levels of regeneration with relatively low prices in comparison to the capital. They combine great levels of capital growth along with decent rental yields also.

Big government led projects, such as the Northern Powerhouse, has also contributed to the North’s resurgence. Media City in Manchester, home to the BBC, has been a huge success for a number of years and is part of a major regeneration project which has transformed Salford into a more attractive location for homes and businesses alike.

The Midlands is also being touted as a location in which housing is preferable in terms of price than London. The levels of growth there are also exceeding London since Brexit with impressive house price increases of 7.3% in the year to February. This is down to the investment pumped into the region which has led to businesses taking up residence there and boosting the economy.

London is seeing less investment as a result of more and more businesses and their staff moving elsewhere. It’s by no means a doomed market from an investment perspective, but the consensus is that the smart money is going elsewhere at this particular moment in time. Capital growth and rental yields can be found in the northern locations mentioned amongst others.

For more information on our latest investment opportunities, click on the Investments tab on our homepage. Alternatively, give us a call on 0208 445 6542 or email us at info@tarquinjones.com for more details.

 

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Rents in Central London according to the experts

Rents in Central London according to the experts

It’s a well-known fact that house prices in the capital have stagnated in the last year or so, and this frustration for investors is now being felt in the lettings market amongst landlords as well. Fewer homes are going on the market and with properties struggling to sell, it may be time to start looking

Rents in Central London according to the experts

It’s a well-known fact that house prices in the capital have stagnated in the last year or so, and this frustration for investors is now being felt in the lettings market amongst landlords as well. Fewer homes are going on the market and with properties struggling to sell, it may be time to start looking outside London and at other major UK cities.

In today’s article, we’re going to look at the wider view that rents in Central London are falling and why so many are shying away from those markets as a result currently.

Rents dropping

Knight Frank recently published research that showed rents in prime Central London have declined by 2.1% in consecutive years in February since 2016. The same percentage drop in rents was seen in the year to January figures as well, leading many to believe this could be a trend set to continue in the near future as far as London is concerned.

This drop in prices is despite the growing demand for property in Central London, with 17.6% more would-be tenants looking to rent homes in the area in January again according to Knight Frank. 6.4% less properties were advertised to rent in the year to January 2018 than the previous year. It is this increasing demand that could see rental values regain some of their strength in the coming months.

How are sales affected?

On the sales side, prime property in London has seen a rising discrepancy between original asking price and final selling price, with the average gap now reaching around 10%.

A statement said: “The prolonged nature of the adjustment in prime London rents is due to the high levels of supply introduced to the market in recent years, including during the period following the introduction of an additional three per cent rate of stamp duty for landlords in April 2016.”

“As new supply moderates and demand strengthens, we expect to see continued upwards pressure on rental values.”

Barratt Homes pulling out of the capital

Barratt Developments, the UK’s biggest house builder, has said it will not seek to build any new homes in central London after being forced to cut prices on existing stock. David Thomas, Barratt’s chief executive, on Wednesday said the builder had not bought any new London development sites since 2014 and confirmed it had no plans to buy any more for the foreseeable future once those were built out.

“We’ve been in a position over the past 18 months where that market has become very challenging to sell,” said Mr Thomas, adding that Barratt had been lowering prices on homes to accelerate sales.

The fact that such a reputable and renowned developer like Barratt’s are starting to recognise London as ailing somewhat does not necessarily mean the capital is doomed, but taking longer than expected to recover from Brexit fears. The oversupply of properties in London is also a major factor in Barratt’s decision, and they now are likely to focus their efforts on outer London areas and other major UK cities, signalling them as the go-to places for investment right now.

A doomed market? Or a temporary setback?

Whilst London has been unrivalled in terms of capital growth for the best part of 10 years, based on current markets and projections, it looks set to merely level out the way it has done over the last year and a half. This signals a major change for the London property sector and many investors are aware of this moving forward. Although demand in London will always be very high, other major UK cities like Manchester, Liverpool and Birmingham have been much more resilient to the Brexit hangover than the capital has. They are where the smart money is going right now, and while London is not a finished market by any means, it doesn’t measure up in terms of the capital growth and high yields that can be found elsewhere.

For more information on our latest investment opportunities, click on the Investments tab on our homepage. Alternatively, give us a call on 0208 445 6542 or email us at info@tarquinjones.com for more details.

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