Do you consider it possible that one building with significant worldwide prestige would be able to boost your property’s value or potential investment leverage? Simply look out for what experts are calling the ‘Shard effect’ – and buy in areas where tomorrow’s landmarks (or swish new shopping hubs) are today’s building sites. It is interesting to follow what London Bridge Lettings agents say about that fact.
High-end properties in London Bridge, Tower Bridge and Bermondsey may have remained recession-proof, but those on planet first-time-buyer have to be canny about where they look.
Now those looking to cash in on property price rises are buying early and off-plan at new developments linked to future regeneration. The Shard, London Bridge’s 310m tower of luxury apartments, hotel rooms and restaurants, opened in Feb 2013. It is already transforming the immediate and surrounding areas – London Bridge station is due to undergoing a £700million redevelopment that is thought to finish by 2018.
According to Berkeley Homes boss Paul Vallone, who is currently marketing Marine Wharf, 454 dockside homes in nearby Surrey Quays, surrounding property prices can expect to see a boost as well. ‘They are perfectly placed to take advantage of the renaissance in the employment zones at the Shard and London Bridge,’ he says.
So investors and first time buyers looking to secure a property around Tower Bridge area would definitely benefit from that new Landmark in situated in the heart of London Bridge. Real Estate agents are now facing a significant increase in the demand for properties in areas like SE1 and SE16 for both sales and lettings.