Westminster on the up as new developments get underway20 December 2013
For investors, spotting the next property hotspot is all part of the job description. And it seems like Westminster’s one of those key spots. Billions of pounds have been invested in Victoria, for example, by the UK’s largest commercial investment company Land Securities. Redevelopments include Kingsgate House, which offers incredible views of Buckingham Palace and the Royal Parks in the North, as well as the Thames to the East and the South. With some one hundred luxury apartments, studios and penthouses on offer, the development mixes demure British elegance with flamboyant, Renaissance-style Italian influences.
The Courthouse on Marsham Street is another option if you’re looking to buy, with 129 luxury residential apartments for sale, just a short walk from the Houses of Parliament, The London Eye and The Shard. Transport links are also good – with Victoria, Westminister and Pimlico stations providing quick and easy access to mainline connections. The architecture is a sight to behold; inspired by grand designs from the past. Whether you’re looking for a pied-a-terre or a great investment, The Courthouse is an excellent option.
Many of these developments are set to transform Westminster from a part of London known as a traditional, political hub of events, government and parliament, to an area associated with luxury, high-end living. Abell & Cleland House demonstrates this. A residential redevelopment project in the borough, the complex will have stunning gardens, a gym, pool and a business centre. Aiming to become one of the most desirable addresses in Central London, Abell & Cleland House is located just a stone’s throw from the River Thames and suits both professionals and families alike.
Another interesting pattern in Westminster is the growth of areas around transport hubs. For example, Transport For London’s Grade One listed historic building above St James’s station at 55 Broadway, has issued a tender, inviting architects to submit proposals for converting the building into residential accommodation.
It’s clear that the growth of new developments are reinventing the area as a hub of high rise luxury living. It’s therefore no surprise that in October it was reported that the biggest rise was recorded in Westminster, with prices up by 11.9 percent in just one month.
An excellent place to live and work, it’s evident that the borough is very convenient for those wanting access to transport hubs, culture and shopping. It’s certainly the borough to watch if you’re interested in snapping up a residential property to live in and/or invest in.