Newspaper article The Evening Standard (London, England)

Bakerloo Brings Status to South-East London; You Can Feel Change Coming. Move in Now and Benefit from an Ambitious Masterplan for Old Kent Road and Its Neighbours, Says David Spittles

Newspaper article The Evening Standard (London, England)

Bakerloo Brings Status to South-East London; You Can Feel Change Coming. Move in Now and Benefit from an Ambitious Masterplan for Old Kent Road and Its Neighbours, Says David Spittles

Article excerpt

Byline: says David Spittles

THE extension of the Bakerloo line from Elephant & Castle to Lewisham, with two new stations in Old Kent Road cheapest square on the Monopoly board is set to propel an unglamorous swathe of Southwark to property hotspot status.

The new stations will be near the Old Kent Road junctions with Albany Road and Asylum Road. Though it will be at least 10 years before Bakerloo trains start operating, the extension is already creating an up-and-coming area from a part of London currently starved of the Tube.

Now that Transport for London has decided on this route rather than a Tube line through Camberwell and Peckham, Southwark council has unveiled an ambitious regeneration masterplan for Old Kent Road and neighbourhoods either side of it. Up to 20,000 new homes, schools and parks are planned, along with a new Overground station called New Bermondsey.

The aim is to transform one of the capital's most famous highways from a dispiriting, colourless urban mess into a modern, apartment-lined, pedestrianfriendly high street with traditional owner-run shops and cafes replacing uninspiring pound shops and supermarkets. There is also a proposal to create a green corridor along the Grand Surrey Canal, built in 1807 as a trade route to the docks but concreted over more than 40 years ago.

Camberwell residents may take some solace in TfL plans to reopen old Camberwell railway station, which closed during the First World War, while in 2018 Denmark Hill station, which serves the area along with Dulwich, will offer quick commutes to the new Elizabeth line hub at Farringdon.

To find out more about the capital's transport upgrades, see the London Reimagined research, carried out by Rightmove for Homes & Property, at rightmove.co.uk/viz/london.

surging south-east South-east London is already seeing a surge of interest as home buyers and renters wake up to the lower prices and good commuter links to the City and Canary Wharf. The Bakerloo line extension is forecast to have a huge impact by providing a fast and direct link to the West End, with capacity for 65,000 extra journeys in each direction.

Already developers are snapping up sites and launching new homes, while estate agents are tipping micro spots such as the conservation area wrapping around Trafalgar Avenue. "Traditionally, purchasers preferred the range of architecture and the more gentrified neighbourhoods of north and west London," says Candice Matthews, director of property consultant Cushman & Wakefield. "But more people now want to put down roots in south-east London and they're factoring the Tube extension into buying decisions." The recently extended East London line, part of the Overground network, has brought areas such as Forest Hill and Sydenham in from the cold, while the Elizabeth line Crossrail will be a game changer for Woolwich and bordering areas such as Charlton, she adds. …

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