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In any area, regeneration is a sign of improvement. It provides opportunities for returns on investment further down the line.
On average, annual property growth for properties in and around regenerated areas is 4.9% above wider house price growth. Residents and investors stand a chance to benefit from new openings and offers.
Since the 2012 Olympics in London, significant regeneration projects have been completed, and more are in the pipeline for the coming years. Regeneration projects can increase housing stock by 151%. This boost is desperately needed to restore the balance as the housing crisis continues to pressure the real estate market in the UK.
By improving the quality of life for residents and social infrastructure, the efforts of investors and developers are significantly complemented. We will explore some of the main regeneration plans in London that present unique opportunities for Hong Kong investors.
1. Lambeth
Regeneration plans for Lambeth will improve the Borough’s social, economic, and physical status. Currently, there are plans to build over 300 new homes, a new theater, new community spaces, expansion to the Brixton town core, new paving, more trees, and shared outdoor spaces for all residents. These improvements will significantly upgrade Lambeth's retail, employment, and residential sectors.
Affordable housing, better accessibility, and improved recreational amenities will significantly affect the Lambeth property market. Investors in Lambeth can therefore expect better returns upon completion of the Lambeth regeneration projects.
2. Thamesmead
Thamesmead has an ambitious 30-year regeneration plan that will improve the quality of life for Thamesmead residents, improve the quality and usage of the landscape, create growth, make culture a priority in everyday life, and support Thamesmead residents to be happier, healthier, and wealthier. Over £1 billion have been invested into the Thamesmead regeneration plan, making it one of the biggest regeneration projects in the UK and the biggest in London.
With new transport links and new developments in Thamesmead, investors and residents should expect new shops, new leisure facilities, and more jobs that will positively impact economic growth in Thamesmead. There are investment opportunities in repairing existing homes, improving public spaces, building new homes, looking after parks and waterways, and growing cultural activities.
3. Greenwich Peninsula
As Europe’s largest regeneration project, the Greenwich Peninsula will see an investment of £8 billion with plans to create a sustainable riverside community by 2032. Within the next 20 years, 25,000 new homes and a new major shipyard at the Royal Docks, 20,000 new homes and 10,000 more jobs in the old Kent Road District, 5,000 new homes and converted former warehouses for living spaces in Woolwich, and improvement to the Docklands Light Railways and the London City Airport.
The property in and around the Greenwich Peninsula will thrive with such major improvements. Investors presently have many investment opportunities that will yield profitable returns now and in the future.
4. Old Oak Common
Covering Ealing, Southall, and Hanwell, the £26billion Old oak Common regeneration project is part of the West London Regeneration Corridor. The 30-year regeneration plan will transform 1,600 acres of land into new homes and businesses with the Crossrail at its center. The new High Street will connect the Crossrail to the new £3 billion Imperial College. In general, the working and studying population will find a better quality of life in the Old Oak Common, therefore driving a surge in the property market in and around the area.
5. White City
The regeneration project in White City centers around landscapes and outdoor living. Over 2,000 homes with luxury amenities have been developed in a high-quality site, and £8 billion will be invested in building 6,000 homes, creating 20,000 new jobs and building 2.2 million square feet of office space. Plans to regenerate White City are already underway, and investors, residents, and developers will reap great benefits from a thriving economy upon completion of the regeneration project.
