Greenwich Peninsula, one of Europe’s largest urban regeneration projects is well underway and already welcoming its first residents. This £8.4 billion project in London is transforming 150 acres of former docklands into a vibrant mixed-use district along the River Thames. Upper Riverside, one of Greenwich Peninsula’s seven new neighborhoods, is fast emerging as a new London destination.
According to Financial Times, property prices in the area has increased up to 20 – 25 percent in recent years and growth in the area is not slowing down. Research from Jones Lang LaSalle (JLL) has forecasted that the property values and rental growth of Greenwich Peninsula will surpass that of Central London average over the next five years.
For investors looking for a “buy-to-let” investment property, or looking for your next home, here are four reasons why Greenwich Peninsula is generating so much interest among Singapore investors.
1) One Train Stop from Canary Wharf and 20 Minutes from Bond Street
Living in Upper Riverside puts London at your feet, with Greenwich Peninsula’s own tube station just one stop from financial hub Canary Wharf and just 20 minutes to Bond Street on the tube. In addition to its great connectivity to the rest of London, the project is also strategically situated just 14 minutes away from London City Airport, making it a popular destination among expats in London and frequent international travelers.
2) A Growing Population that will Drive Rental Demand for New Homes
On top of the excellent location and connectivity, Greenwich Peninsula is estimated that it will create 20,000 new jobs, according to the Financial Times. And with property prices still highly competitive as compared to the north or the west of London, the sales and rental outlook in Greenwich Peninsula remains strong. Upper Riverside will provide 1007 new homes, featuring luxurious comfort and stylish space.
3) One-stop destination for work and play
Greenwich Peninsula will be developed as a one-stop destination, providing comfortable and luxurious living for its residents, whilst being an entertainment hub for all – one can expect to find a vast array of entertainment and social lifestyle venues, ranging from restaurants, pubs, cinema and even a golf driving range. Riverside living is a prominent feature for the Greenwich Peninsula as the development boasts a 1.6 miles of river frontage. Amidst the hustle and bustle of city life, residents can find tranquility in their homes at Upper Riverside with the spectacular panoramic views. Upper Riverside is truly where city and riverside living combine.
4) A unique cultural experience
Greenwich Peninsula provides an unique experience like no other. The new developments in the area promotes excitement and rejuvenation while its well-known historic sites help to retain the place’s connection to its origins and culture. Once completed, the Peninsula will also feature a Design District at the heart of the development – it is the new creative quarter for London which will give artists, designers and other innovators a platform to showcase their talent. Upper Riverside is situated on the north-east side of the Peninsula. Featuring five towers pointing towards the water’s edge, the development is lined with pavement cafes and restaurants. With its unique design, Upper Riverside makes the latest addition to the iconic London skyline.