Royal Arsenal Riverside is one of the best Crossrail property hotspots going
With 42 kilometres of tunnels and nearly 10 miles of platforms, Crossrail is one of the most ambitious transport projects in London since the London Underground opened in 1863. When it opens in 2018, Crossrail is all set to provide London and the South-East with a world-class, high capacity railway, delivering faster journey times and new journey choices. It will increase rail capacity by 10% and bring an extra 1.5 million people to within 45 minutes of central London.
Crossrail is the biggest construction project in Europe & one of the largest single infrastructure investments in the UK
Ten new Crossrail stations are being constructed linking the on-site station at Royal Arsenal Riverside with London destinations including Tottenham Court Road, Bond Street, Liverpool Street and Canary Wharf. There will be a total of 38 stops stretching from Reading to Shenfield in a the biggest infrastructure investment since high-speed 1. For an idea of what the impact of Crossrail will be on Woolwich, you've only got to look at the impact of HS1 on house prices and rentals in Ashford to see the potential here. But remember Crossrail is a much, much bigger project.
Already areas within ten minutes of a Crossrail station have seen significant rises, particularly around Ealing and West London stations. However residential research experts Knight Frank believe the east is quickly catching up. “Research shows that prices around Canary Wharf Station have lagged the strong growth seen in prime outer London from 2008 to date, but the scale of development taking place in the area, and further east, make this an area to watch.” Grainne Gilmore, Head of UK Residential Research, Knight Frank.
Royal Arsenal Riverside gives you the chance to invest early, particularly as Berkeley's development is in the initial phases and is scheduled to continue until 2030.
JLL's Crossrail research tool
The JLL Crossrail Tool gives Woolwich the 2nd highest buy-to-let score out of all 38 stations, sitting just behind Whitechapel. Their research anticipates prices of properties close to the station will rise by 51.9% from 2014-2020. That's over 7% a year. Again, Woolwich has the second highest ranking, only 1% behind Whitechapel.
In terms of rental growth forecasts, JLL predicts a 37% increase in prices by the end of 2020. Overall they rated Woolwich “one of the main beneficiaries of Crossrail.”
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Why you should invest in Royal Arsenal Riverside
“I know an excellent investment opportunity when I see it, it but it’s great when I can prove it too!”
I’ve visited the Royal Arsenal Riverside site several times, and I can confidently say even Berkeley’s glossy marketing photographs don’t do it justice. The mix of modern design and grade II listed buildings put Royal Arsenal into a class of its own. And with 5,000 of these build by 2030 I know an excellent investment opportunity when I see it.
But I am cheating a little. I know it’s an excellent investment opportunity because I’ve already seen our clients make money on Royal Arsenal properties in earlier phases. If you want to see the figures, just give the team a call, and they'll talk you through them.
The great thing is that there's still 15 years left on the Royal Arsenal Riverside project so there will continue to be more opportunities to invest.
The one thing that will change is the pricing. With every phase you miss, the prices increase and your returns are lower than they could have been.
What I would say is essential is to buy an off-plan plot before Crossrail opens in 2018. That’s when rental demand from London’s city workers is going to go through the roof and property prices in Woolwich will follow.
Residential research giant JLL anticipates prices of properties close to the station will rise by 51.9% from 2014-2020. That’s over 7% a year. And Royal Arsenal Riverside isn’t just close to the station, it’s on-site! In terms of rental growth forecasts, JLL also predicts a 37% increase in prices by the end of 2020. These figures show that time really is money where Royal Arsenal Riverside is concerned, get in as early as you can.
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Royal Arsenal Riverside Investment Opportunity – Executive Summary
In April 2015, residential research experts Knight Frank revealed six areas that would be property hotspots by 2018. Woolwich was one of them. Crossrail was the main growth factor in each area. This is because Crossrail will allow 1.5 million more people to come within a 45-minute commute of London's key commercial areas.
The benefit for buy-to-let investors is obvious: greater rental demand from commuters in capital growth areas. Particularly in areas that are still more affordable than traditional commuter areas if you get in early before Crossrail completes. As Knight Frank state, “Crossrail throws Woolwich into a new demand bracket, morphing it into a serious commuter zone.”
When the station opens in 2018, no other place beyond Zone 1 will be as well connected. Woolwich Crossrail will offer seamless transport links to central London without the need to change trains.
JLL residential's research puts Woolwich as the 2nd biggest beneficiary of Crossrail overall. And as The Evening Standard's Homes & Property section observes, Royal Arsenal Riverside is the address that will benefit the most. It's only a minutes to the Thames and the Clipper services and minutes to the DLR. With three choices of fast transport to the city, Royal Arsenal is set to become one of the best-connected developments in London.
Aside from the transport links the development has many other selling points. It's made by the prestigious Berkeley Homes and features a blend of old and new, where historic listed buildings meet contemporary design. It even who won gold in the What House? 2013 awards for Best Mixed-Use Development. And then there's its prime waterfront location on the River Thames?
But because Woolwich is only just beginning to benefit from this development property prices in the area remain low. Figures for the Royal Borough of Greenwich show property prices are below the London average price by 23.9%, but last year increased by 18.2%. This suggests that the borough’s long-term improvement plans put in place from 2006 to 2015 are paying off. Either that or word about Royal Arsenal is starting to get out!
Now is the time to invest in Royal Arsenal Riverside as you'll get in on the ground floor before prices rise. Berkeley are in the early phases of the Royal Arsenal Riverside development and have delivered only a fraction of the 5,000 homes they will build by 2030. By the time the development finishes the capital growth in Woolwich should be remarkable.