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Europe

New Build Properties in London Selling Cheap

Ciaran  2 min read
Illustration: greatreporter

Who said there aren’t affordable Zone One new build properties for under £286,000?

Elephant and Castle is the last development in Zone One where units are selling for as little as £285,000 and is set to be one of the up-and-coming hotspots in London.

Robert Fraser, Managing Director of Fraser & Co. (www.fraser.uk.com), a central London-based estate agent states: “This is a huge investment opportunity, as London is waking up after a downturn in activity; the market is set to flourish.”

An injection of capital is being ploughed into the development of Elephant and Castle.

Schemes include; O-Central, Oakmayne Plaza, Metro Central Heights, Strata Tower and South Central to name just a few.

With Phase One of Strata Tower being sold off-plan within 24 hours of being on the market it is no wonder Fraser & Co decided to expand and open up an office in the area.

It is within close proximity to many of London’s key attractions such as the Houses of Parliament and London Eye and has excellent transportation links including two Zone One tube stations.

This presents a huge opportunity for those letting in the area with landlords receiving up to 5-10% over asking prices, and in some cases even more.

Its 170-acre regeneration programme of £1.5 billion, which is one of the largest in Europe, is set to revitalise what once was a thriving metropolis.

Some highlights of Southwark Council’s scheme include a largely traffic-free environment, an improved physical environment and high-quality open spaces.

London South Bank University, which is part of the University of London, is also investing over £50 million in its campus.

Elephant and Castle will once again become known as “the Piccadilly of South London” with people coming from all over London to shop, eat, relax and be entertained.

With quality design at the heart of the plan, Fraser & Co’s who have extensive experience in inner London advice is to invest early as they are anticipating a huge rise in investors looking specifically at these schemes.

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