Find out what’s happening in the property investment arena both in the UK and internationally
An area on the rise: Rise@Deptford Construction Update
January 29, 2015Article by Charlotte Ashton
Nestled on the south bank of the River Thames, Deptford is an area of south-east London popular with young professionals due to its location, amenities and excellent transport links. It is an area on the rise, with property values having shot up 8.62% over the past 12 months, according to Zoopla.
Vibrant and bustling
Property investment expert Ray Withers of Property Frontiers is familiar with the area thanks to the company’s brand new buy-to-let apartments in the iconic Rise@Deptford building. He comments
“Deptford is a great area to live –vibrant and bustling. It’s packed with local cultural and leisure facilities, like the Albany Theatre and the Laban Dance Centre. There has also been some superb regeneration work undertaken in the Creekside area.”
Deptford also offers plentiful green space, with five large parks in the vicinity as well as some lovely river scenery. Combined with the transport links into central London, this all makes a winning combination for young professionals looking for a suitable area of London in which to base themselves.
Most dynamic global city
Deptford, and indeed London as a whole, is also an attractive prospect for property investors. The most recent JLL City Momentum Index, which ranks global cities based on criteria such as investment, connectivity, property prices, research & development, business start-ups and technology, saw London crowned as the most dynamic city out of all 120 entrants.
Rise@Deptford is an excellent example of the opportunities that London affords investors. The building will present a selection of modern studio, one and two bedroom apartments located just one stop (6 minutes) from London Bridge.
Construction work continues apace
Construction is well underway, with the concrete frame already in place to the fifth floor and the steel frame to the third floor. Drainage works and precast stair placements are already taking place as well and the building has passed inspections from building control consultants HCD and NHBC. Quantity surveyor quality assurance company PH Warr QA has also completed a report and found no issues.
The next six weeks will see construction work continuing apace, with curtain walling and the installation of ventilation systems beginning. Only a handful of units remain available for investment while this is going on, with the apartments attracting both domestic and overseas investors in high numbers, exemplifying the dynamism referred to in the JLL City Momentum Index.
“It’s going to be a good year for Deptford,” Ray Withers concludes. “There’s a great deal of commitment to the area in terms of regeneration funds and property investors are attracted by the potential for healthy yields and steady capital growth. The abundance of tenants looking for decent, new build apartments to rent also makes this a really exciting market to be involved in.”