Property investment in historic Greenwich

A position on the opposing riverbank to Docklands gives residents great views of one of the world’s leading financial engine rooms but Greenwich was a global influence long before the first brick was laid in Canary Wharf. As the epicentre of Britain’s maritime strength, Greenwich built the naval battleships that established a global empire and there is still some grand architecture in SE10 that reflects this fact. A post-war decline in industry left some gaps in the riverfront that have been smartly exploited by developers who expect to create more than 10,000 new homes by 2020. Platinum Riverside (aka Bessemer Place) is a great example of how regeneration has progressed on the Greenwich peninsula and New Capital Quay situated by Greenwich market.

New developments in Greenwich

New Capital Quay, SE10 on the western side, facing central London and all the main Docklands landmarks, is an exceptional property development by Galliard. Just a three minute stroll away from Cutty Sark station in the heart of Greenwich, New Capital Quay is a completely self-sufficient waterside environment with its own gym, shops and landscaped gardens. Popular with corporate professionals who can probably see their offices from their bedrooms, the development commands spectacular views and provides top-notch amenities.

Rentals:

1 beds – £350-£375 per week

2 Beds – £425-£575 per week

Platinum Riverside, SE10 is part of the eastern section of the Greenwich peninsula that is fast catching up with its neighbour. The views are not as grand and that is reflected by the slightly lower rental prices. However, it still combines good amenities and riverside views with speedy connections into Docklands, the City and the West End.

Rentals:

1 beds – £325-350 per week

2 beds- £400-£425 per week

Greenwich Heritage

The vast size of Greenwich Park, which is adjacent to the historic Royal Maritime Museum, is a great draw to young families but it also means that housing stock in the area is compressed into a few pockets. The network of roads that runs parallel to the western side of the park contains some fine examples of Georgian architecture in the form of well-preserved terraces and cottages. Two bedroom cottages here are selling for £800,000. Blackheath Road, Greenwich High Road and Greenwich South Street form a desirable triangle containing some fine Victorian conversions. Two bedroom flats are available for £500,000. The rental prices of these period homes are similar to those in the new developments, making the riverside views and amenities available in places like New Capital Quay an attractive bonus. For investors looking for more cost-effective examples of period properties, the streets east of the park offer two-bedroom cottages and three-bedroom Victorian terrace houses priced at about £495,000 and £650,000 respectively.

Developers are not allowing the limited space in central Greenwich to deter them. Apart from regenerating the eastern side, they are looking west beyond Cutty Sark, to areas like upcoming Deptford which Greenwich shares the same Thames shoreline with. New Apartments like Marine Wharf, Convoys Wharf and Tinderbox are incorporating SE8 into a ‘Greater Greenwich’ district that will attract City workers keen for more space and shorter commute times. The Zone 2 locations of these developments will ensure rental prices remain buoyant with minimum void periods. To look at other ways of getting around London’s transport system, click here

The future’s bright

There is absolutely no chance of Greenwich slipping back into neglect as the Docklands Light Railway & Jubilee line have revolutionised travel in the area. Journeys to Canary Wharf from Cutty Sark station take just ten minutes and North Greenwich Tube station is on the Jubilee line, which also links to the heart of Docklands on its way to London Bridge and Westminster. The river bus is a fleet of swift new catamaran vessels that sail to many city centre destinations from Greenwich and North Greenwich Piers, and a cable car runs from North Greenwich to Custom House. The advent of the Elizabeth Line (formerly Crossrail) will further reduce commuting times to the West End and connect the area directly to Heathrow Airport.

World Heritage Site, international time standard (the GMT line is physically represented in the park) and now a thriving waterfront community: the future of Greenwich is as bright as the lights which light up its most prominent landmark – the O2 Arena.

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