Battersea Power Station is in Phase 4A of its redevelopment project.
South London’s leisure property appeal has grown substantially over the last ten years.
Here, our London restaurant property specialists will examine just what is making South London an attractive prospect for top-end luxury investments as well as more informal, through decidedly upmarket, leisure concepts.
London leisure loves nothing more than a landmark. Battersea Power Station is in Phase 4A of its redevelopment project, which, including the initial £8bn restoration of the station itself, is estimated to have attracted £15bn of investment. To put that in perspective, the huge Olympic redevelopment of Stratford was around £9bn.
In addition to the range of residential property, the completion of Phase 4 will see the area given 12,000 sq ft of new leisure property space. Combine this with the planned extension of the Northern line into the area and Battersea becomes a hot leisure and retail property location, even despite growing negatively around the residential property units.
The Shoreditichification of the area around Brixton tube station is a prime example of the leisure property clustering we wrote about in June. From this trendy South London enclave, independent entrepreneurs such as Honest Burgers and Franco Manca have gone on to form highly successful chains, with Boqueria’s tapas and Kaosarn also thriving.
As the larger chains and operators move into this area, the smart investor will look at where the next independent cluster will establish itself. One promising area is Balham, which has seen a 21% residential property rise over 2014, indicative of the areas appeal.
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