West London is most commonly associated with the much-loved prime neighbourhoods of Notting Hill and Kensington. Boasting some of the world’s most exclusive properties, these established locations attract families and professionals alike with top-performing schools, excellent amenities and extensive transport connections. This long-standing popularity and burgeoning demand is creating a ripple effect, with the emergence of a number of destinations forging a new identity for West London as an investment hotspot.
Major regeneration projects in areas such as Earl’s Court, White City and Southall are creating a welcome rebalance of new homes in the capital, away from locations to the east and south. Acting as the catalyst for investment, Crossrail, London’s flagship east-west train line, will significantly improve connectivity to West London’s prime, emerging-prime and outer boroughs, complementing the arrival of new housing in the pipeline.
West London’s emerging prime postcode
Earl’s Court is in the midst of a major transformation. Found where Kensington, Chelsea and Fulham meet, this prime location offers a much-loved residential district with an exciting future ahead. A 77-acre regeneration project by Capital & Counties (Capco) will create London’s next great estate, and given the company’s experience as stewards of Covent Garden for over ten years, great things can be expected.
Recent area transformations in London, such as in King’s Cross or across the Grosvenor Estate, have shown how continued investment and considered management can have a positive impact on an area. Capco’s Earl’s Court will see the creation of 8,000 new homes, a high street, new office, retail and leisure amenities, as well as open and green space. A new five-acre park, which has been designed to follow the contours of a lost tributary to the River Thames, will create a lush green link through the area.
Knight Frank’s 2016 area report highlighted that Earl’s Court is likely to see higher values from east to west as the development attracts buyers who would have traditionally opted for Kensington and Chelsea. The first chapter, Lillie Square, is now selling the second phase of properties having recently marked its first completions. Once fully complete, it will provide 808 homes set around a new garden square designed by award-winning landscape designer, Andy Sturgeon.
The development will incorporate an impressive 1,858 m² clubhouse, which features a host of residents’ facilities, including a swimming pool, state-of-the-art gym and deluxe health spa, alongside an exclusive Aston Martin car club — the first in the luxury car brand’s 100-year history.
White City: London’s brightest new district
As with the inner West London boroughs, Zone 2 locations such as White City and Shepherd’s Bush have experienced similar drivers for growth and regeneration in recent years.
According to Luke Mills, Executive Director at CBRE Residential, “Areas that are already in close proximity to the most desirable West London locations have the potential for higher house prices in the immediate future.” White City is one such area, benefiting from close proximity to the existing prime residential communities of Notting Hill and Holland Park. The area is also bolstered by long-standing direct transport links into central London via the Central, Hammersmith and City and Circle lines.
White City has performed particularly strongly over the last five years, with property prices increasing by 43 per cent over that time, according to CBRE. Increasing demand for rented accommodation has also resulted in a strong rental market, with values up 14.6 per cent over the past three years.
It comes as no surprise that the area has been earmarked for substantial growth. It’s set to see over 4,000 new homes, 185,806 m² of workspace and many acres of open space brought to a previously industrial landscape, which is to be delivered over the next 15 years.
At the heart of this major West London regeneration sits White City Living, by the Berkeley Group. The highly-anticipated centrepiece of the regeneration area, White City Living is set to launch this summer, providing 1,465 new homes, a five-acre park and a boutique retail and commercial offering to complement that of neighbouring Westfield London, soon to become Europe’s largest outlet that offers luxury goods.
Southall: a hidden gem
The outer boroughs of west London are also attracting significant investment from homebuyers and developers alike. Located in London’s travel Zone 4, Southall has been identified by global property firm JLL as an area that offers longer-term, untapped potential.
The thriving town, famed for its rich international heritage and unique cultural charm, benefits from an exceptional position that offers buyers quick and convenient links to both Central London and Heathrow Airport — ensuring global destinations are firmly on the doorstep. Southall’s connectivity is set to receive a further boost with the arrival of its own Crossrail station in 2019, cutting journey times to Central London to 17 minutes. It also sits on the M4 corridor, meaning it’s ideally located for those working outside of the capital.
While connectivity has always been one of Southall’s greatest assets, its property market is primed for a major transformation that will see it rival that of established neighbour, Ealing. JLL has forecast prices to increase by as much as 32.7 per cent from 2015 to 2020, attributing the catalyst for growth as the introduction of Southall Waterside — a landmark regeneration project from Berkeley Homes — and Crossrail.
Berkeley’s vision for the 88-acre site will see the creation of a vast new neighbourhood in West London with over 3,700 homes, a retail and leisure hub, a school and significant acreage of landscaped parkland, delivered in multiple phases over a 25-year period. Phase A of the development will see the delivery of 618 apartments and seven acres of outdoor space.
These significant projects within west London’s prime, emerging prime and outer boroughs are offering some of the capital’s most sought-after and hotly anticipated investment opportunities.
Homes at Capco’s Lillie Square are currently on sale, priced from £795,000 (Dh3.76 million). The much-awaited launch of White City Living is set for this summer, while Southall Waterside will release its first phase of properties later this year, with first completions scheduled next year.
