Several areas of central London have been identified by Knight Frank as offering excellent real estate investment opportunities, with the firm stating that new-build developments in these districts will see their value rise by more than 30 per cent by 2015. Among the 13 locations singled out by the organisation are the City Road Corridor, Earls Court, Hammersmith, Nine Elms, Victoria and Paddington/Bayswater.
Head of UK residential research at Knight Frank Grainne Gilmore explained: "There are pockets of London where the opportunity for development, and other factors such as improved transport infrastructure, gentrification or regeneration, combine to produce real opportunities for house builders." She pointed out that these regions are expected to outperform prime assets, despite the strength of this market.
The district predicted to have the largest rise in residential values is Nine Elms, with Knight Frank anticipating a 140 per cent boost to homes here. This is due to the regeneration projects for Battersea Power Station - creating around 16,000 new properties - and Tideway Wharf, which is being developed by St James Group. In addition, two new stops on the Northern line of the London Underground stopping at Nine Elms and Battersea are expected to improve the area's prospects.
- Tuesday 13 September 2011