Canary Wharf’s movers and shakers have made Woolwich a property hotspot
Woolwich, Shooters Hill and Plumstead are all in the London SE18 postcode, but the place that has been the primary focus of extensive regeneration is Woolwich, an area that is identified in the London Plan as one the major centres in Greater London.
Over the past two decades, Woolwich, in the heart of the SE18 postcode, has developed more rapidly than any other area in London. It's been transformed into one of the most thriving areas in South East London.
Factors that have fueled Woolwich regeneration in the past two decades.
- Development of Canary Wharf as a new commercial hub
- Regeneration of the Docklands
- The opening of London City Airport
- Creation of the 2012 Olympic Park (now the Queen Elizabeth Olympic Park)
Woolwich also has a rich and fascinating history both as a military and an industrial town. Much of this has been preserved and sympathetically treated despite the rapid rate of development.
Woolwich is home to the Royal Arsenal which at one time was the largest munitions manufacturer in the UK. Throughout the nineteenth century the Royal Arsenal was an important military hub and was involved not only in the manufacture of armaments, but it was also a major centre for explosives research. This important historical site is being regenerated to create an iconic urban village: Royal Arsenal Riverside, by Berkley Homes.
6,000 new homes in just 15 years…
Today the local Beresford Square and Plumstead Road market is an important part of life for the local people, and it dates back to the 1600s. Although Woolwich thrived and prospered for hundreds of years, mainly through the manufacture of munitions, once the Royal Arsenal began to decline so too did the town, a decline that lasted for around 60 years. Today that decline has been reversed, and Woolwich has become a thriving new area. Over a 15 year period, past, present and future regeneration schemes will provide in total around 6,000 new homes.
Central Woolwich has also been transformed and today boasts a new town square with a water cascade, a huge outdoor screen and attractive seating and planting. There is also a new library and council offices.
As already stated, nowhere in London is developing faster than Woolwich. Below are some of the impressive developments that are happening right now.
“You could be forgiven for thinking it was a market town miles from London”
I have spent a number of afternoons and lunches at the pub on the Royal Arsenal Development in Woolwich and I have to say its a beautiful part of London. You could be forgiven for thinking it was in some market town miles from London.
That’s not the only reason I like it, the old military arsenal where ships would offload the ammunition before sailing into London, is a marvellous indication of London’s rich history.
To be honest, though, the main reason I like Woolwich is that I’ve seen clients consistently make money in the area. With such good transport links in such a beautiful location, there is so much demand in the area that it would be difficult not to make money.
For more information on opportunities in the area read our Royal Arsenal Riverside Property Investment Guide blog post or give the team a call directly on +442078121255
Live with passion and fun,
Brett Alegre-Wood
