Is Nine Elms fast becoming London’s most sought after address?
Chelsea, Mayfair, Kensington along with other central London hotspots, have always been sought after, with discerning buyers both in the UK and overseas looking to make quality, long-term investments. However, now there’s a new kid on the block – Nine Elms – London’s biggest regeneration project and fast becoming the new popular place to buy a luxury apartment. With 16,000 new homes being built, 25,000 jobs set to be created, the land around them has also been rapidly developed into an array of shops, park land and offices. Over £1 billion is being spent on new infrastructure, including two new tube stations and there will also be a lot of open public spaces available, as well as visitor attractions. There will also be a lot of sporting facilities, picnic areas, cafes, gardens and cycle paths available. Garton Jones, an estate agents in Nine Elms have highlighted why this part of London is the new luxury hotspot.
A brief history…
Previously a rather unknown area of the Thames, Nine Elms, has soared in recent years. The name originally came from a row of trees on the main road around 1645 and the area was mainly made up of marshland. There’s even evidence of Roman occupation in the grounds of Lambeth Palace! The construction of the fort ensured that Vauxhall and Nine Elms Lane grew post English Civil War. After Vauxhall Bridge opened in 1816, there was a route created from north to south London, and after the railways station opened in 1838, it was connected to various points between Vauxhall and London Bridge by Thames steam boats.
The surrounding area to the north of the new mainline became the London and South Western Railway’s carriage until they relocated south. However, the buildings were damaged by bombs in World War II and closed in 1967.
Regeneration benefits
It’s not just the popular new developments which are causing the influx of money into Nine Elms. The £800 million extension to the Northern Line means that the area’s also set to be connected to major parts of the city, such as Westminster, The City and Leicester Square in a matter of minutes. Battersea Power Station and Wandsworth Road train stations are also in the pipeline, with station upgrades at Queenstown Road and Battersea. The riverside area is fast expanding, with many property, investment companies and investors looking to get involved. The hope is that the prosperity triggered by the regeneration will spread beyond Nine Elms, with the new railway arches to become a thriving hub of business, with access to the river at Albert Embankment through them.
So if you’re looking for a luxury apartment to rent or buy, make sure you go and check out Nine Elms developments, the property investment spot massively in demand by international and UK-based investors at the moment. London’s reputation as a safe haven for overseas money remains intact, due to its legal system, political stability and the current geopolitical turmoil happening across the world. Look out Chelsea, Nine Elms is on your tail!
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