Newspaper article The Evening Standard (London, England)

Tales of the River Boom; New Homes

Newspaper article The Evening Standard (London, England)

Tales of the River Boom; New Homes

Article excerpt


THE residential rise of inner south-east London, for so long a snail's pace affair, is finally gathering speed.

Trendy development is spreading from Southwark hotspots close to the river. Deptford, for example, is being hailed as the new Hoxton.

The Jam Factory, a rambling warehouse complex close to Old Kent Road, has the makings of a new designer live/work community similar to those in places such as Spitalfields and Shoreditch.

Improved transport links are boosting the area. The DLR to Lewisham provides an invaluable connection to Docklands. The extended Jubilee line has provided two new stations (Canada Water and Bermondsey). The longawaited upgrading of the East London line is now on the cards.

New Cross and Brockley are also being targeted by developers.

Affordable rents have attracted many young professionals now looking to get on the property ladder.

The area already has some large Victorian houses in the [pound]250,000 to [pound]400,000 price bracket. But there are few new apartments and lowmaintenance townhouses that appeal to first-time buyers.

New Park Gate is a Rialto development in Cold Blow Lane, where the old Millwall football stadium used to be. Rialto is building apartments priced from just below [pound]100,000 (rare for an 020 7 location). Nearby New Cross Gate railway station provides a six-minute service to London Bridge. Call 020 7732 9012.

Surrey Quays has struggled to acquire the status of other Docklands quarters such as Wapping and Shad Thames. One reason is the shortage of warehouse conversions, which means the area lacks a sense of history. Unlike the Isle of Dogs, with its glittering modern architecture, much of the new development has a suburban character.

Estate agents have always said that given its proximity to the City and Canary Wharf, prices in Surrey Quays should be significantly higher (apartments can be picked up for less than [pound]300 per sq ft). …

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