Low property prices are set to soar with Crossrail on the horizon
Greenwich occupies a central position within London and the south-east and plays an essential role in the ongoing development of the Thames Gateway. This is the largest regeneration project in Europe, which is delivering quality homes, transport links and related social infrastructure for the communities that live there.
Woolwich will benefit massively from significant investment and new transport links. Crossrail will serve the brand new Woolwich railway station after £162-million funding was pledged for the project.
The rail development will provide huge journey time savings into the City and West End. With Woolwich town-centre regeneration plans also underway there is the potential to upgrade the entire area.
Research by JLL shows that Woolwich, along with Whitechapel will benefit the most from the Crossrail project. Projections show that Woolwich property prices could rise by as much as 51.9% from 2014-2020. The same report estimates that prices per square foot will rise from £375 in 2014 to £570 by the end of 2020.
That means Greenwich property investment is perfect for you if you're looking for a central position in London.
Economy & Employment
Much of Greenwich’s economy is based on tourism, but innovation is are paving the way for new businesses.
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The aim of the Greenwich Strategy 2006 to 2015 was that by 2015 Greenwich will have a vibrant mix of communities supported by quality housing, accessible transport links, open spaces, with strong cultural attractions and a prosperous local economy.
The Royal Borough’s award-winning jobs and training scheme GLLaB (Greenwich Local Labour and Business) has helped more than 16,000 residents find jobs and training opportunities. It will also play a key role to ensure that all local people benefit from the scheme through maximum opportunities to gain new jobs or apprenticeships and are able to improve their skills and long term employment prospects.
The Royal Borough attracts more than eighteen million visitors to its attractions each year, the main draw being the Greenwich Park delights; the Cutty Sark, Observatory and the National Maritime Museum.
In addition to this, the income generated from tourism is estimated to be worth over £774 million to the local economy each year (Daily Mail, 3 February 2012).
Discover more with the Greenwich Property Investment Guide download.
Massive multimillion pound investment for long-term projects will ensure a secure future for Greenwich.
Woolwich town centre’s £6.6million redesign was approved in December 2009 to include General Gordon Square and Beresford Square being transformed as part of the ongoing programme of major regeneration in the town. The aim is to provide attractive public spaces which can be used for festivals and other public events during the day, evening and night.
The Royal Borough of Greenwich has appointed developer Lovell to undertake a £269 million redevelopment programme which will transform three Woolwich council estates. Construction started in 2014 on a 13-year regeneration programme to redevelop around 12 hectares of land to the east and west of Woolwich town centre, following an extensive stakeholder consultation programme and the plans successfully completing the full planning process.
The development will provide major job and training opportunities locally, including 90 apprenticeships over the duration of the scheme.
Lovell will also create a £150,000 Community Trust fund for community groups and projects showing its commitment to establish lasting benefits for local neighbourhoods.
Rail: Greenwich is served by two rail stations: Greenwich and Maze Hill with services to London Cannon Street, BarnehurstDartford and Gillingham. Greenwich is also served by the Docklands Light Railway, with services from Greenwich station and Cutty Sark to Lewisham, Stratford and Bank. The North Greenwich Station is also served by the London Underground Jubilee Line.
Bus: Greenwich is served by several transport for London bus services, which links it with areas including Catford, Elephant and Castle, Eltham, Lewisham, Peckham
Cycle: The Thames Path; National Trail runs along the riverside. The Greenwich foot tunnel provides pedestrian access to the southern end of the Isle of Dogs, across the River Thames.
Schools: Greenwich has 64 primary, 13 secondary, 1 special and 3 independent schools in the area.
Educational attainment in the borough has improved substantially with the investment of over £290 million in improvements to secondary schools from 2006 to 2015.
Further Education: The Anglian College London offers FE and HE operating mainly from Woolwich. It has four academic and one administrative departments. It is one of the few colleges accredited by both City and Guilds and Association of Business Executives (ABE) in the region. Greenwich Community College runs a wide range of full-time and part-time academic and vocational qualification courses.
Higher Education: The University of Greenwich main campus is located in the distinctive buildings of the former Royal Naval College. The university has other campuses at Avery Hill in Eltham and at Medway. Near the Greenwich campus, the Trinity College of Music is housed in the buildings of the former Greenwich Hospital.
Shops & Leisure
Shopping & Dining: Greenwich Market was established in 1737 and is London’s only historic market to be found within a UNESCO World Heritage Site. Its unique nature is reflected in its stores featuring independent shops and boutique outlets.
Leisure & Culture: As well as the National Maritime Museum, Cutty Sark, Observatory & the O2 arena Greenwich offers some hidden cultural gems. There is the Grand, an old Woolwich cinema that has been refurbished by local people, provides a variety of entertainment, the Tramshed theatre, plus a Waterfront Leisure Centre.
Green Spaces: Greenwich’s residents have identified green and open spaces as one of the best features of living within the Borough. 15% of the total area is taken up with parks, gardens and green space. These include Winn’s Common, Oxleas Wood, Bostall Heath, and Plumstead Common as well as the Thames Path.