Croydon is ready to become a real estate hotspot
In anticipation of the Westfield effect, the first Croydon Property Show will take place on September 29 at Croydon Park Hotel.
Those who live or have property assets in Croydon have probably noticed a tremendous change in the area. Excellent transport links and major regeneration projects are completely changing the face of Croydon.
As expected, the most anticipated project in the area is the creation of Westfield Croydon, bringing on the Southern side of the river. Known as the ‘Westfield effect’, Croydon is set for a construction and development boom with prices soaring. All this might seem like a distant dream, however, Westfield London caused White City to grow 10% faster than any other area in London.
Croydon is still affordable in comparison to other neighbourhoods in London since according to Rightmove the average house price is roughly £200,000 less than the London average. Here at Copperstones, our market experts predict a bright future for Croydon, since this ‘outer’ borough of London could soon become a hotspot for residential, commercial and office real estate. Based on our accumulated market intelligence, as a leading player in London realty, Copperstones suggests real estate investors to keep their eyes glued to Croydon. The Southern borough has already made huge steps towards diversifying and attracting more people who chose it for its affordability. However, in a few years from now, this might not be the case. The Westfield expansion and the creation of London’s second tallest building after The Shard, One Lansdowne are set to soar up asset prices in Croydon.
Currently, residents can reach London St Pancras from Croydon trough an improved 29-minute line through the rail. The fast links will be proven highly beneficial for companies such as Body Shop and Superdrug who will move their headquarters to Croydon. As this decision has already been approved, Croydon looks at thousands of people visiting, living and working there.
Since every success story in London contains a regeneration plan, Croydon couldn’t be the exception, with two regeneration projects on the way. Crystal Palace FC is redeveloping their stadium in £100m expansion plans while a £30m refurbishment of the iconic Fairfield Halls will give the town a world-class theatre and music venue.
During this ripple effect that is already visible through projects like Boxpark Croydon, the whole city is preparing for a massive regeneration with bars, coffee shops and restaurants popping up across town.
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