London a world city with the best fundamentals
London is a world city, it has the best fundamentals and will continue to have the best fundamentals over time. No doubt about that.
Let's talk about London for a bit. For me London is you know: London Property Look To The Setting Sun and what do I mean by that? well I mean look west. For many years we were actually investing effectively in East London so those you know Kidbrooke and Royal Arsenal were in East London. Let's have a look, this is a map of London now where and this isn't all of the places where stuff is happening but I just want to give you an idea. In fact I'll let you chat through Ritesh.
Ritesh: So know some spots we have seen you know a lot of regeneration and change happening and remember that word regeneration and change. Back back in 2010 we started getting involved in the London stuff, it was all East and Southeast simple reason geographic well located but you know you only lived there you couldn't afford to live in other parts that's the reality of it.
But then the government started investing a lot of money in. Started working with the big developers, bringing transport lines up. Bringing in big developments and improving the style of housing that was available to live there. So all of a sudden what you saw it would change and all of a sudden prices move there exponentially.
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It's a very different market in Scotland, it's a smaller market. There's some fundamental changes namely oil and gas with all the issues there and that I know Aberdeen and a few of those places house prices have dropped considerably. So, it depends on how that's reacted.
What I'm starting to see now is there's some little stuff going on in the East but I'm seeing more and more stuff starting to happen in the West and the Northwest and the North, it's almost like not much was going on there 10 years ago but now that's all beginning to kick off. In fact some of it's already kicked off if we talk about some of the areas you know you've got Colindale for example which is sort of North, Northwest London, you've got 10,000 new homes being built there. High street being upgraded you know you've got new schooling, new health facilities you know so the fundamentals are getting stronger.
Another good sign you know that area is primed up in value is when the big developers come to town. So your likes of Berkeley Homes have built a huge scheme there, Galliard Homes there, Redrow in there, Fairview are there, you know me and you might invest in a property or two property there these guys are investing millions to build these developments. For them they do a hell of a lot of research and these are the right spots so when you do tend to work with these guys I'm not saying they're always getting it right they're very likely to get it right.
So new jobs to be created to the expansion of Brent Cross Shopping Centre which is a pretty big scheme you've got a 4.2 million square foot box that's being created to see how much of that is going to be used or if any of that changes with a coping and work style but that's still there. About 419 million on the railway project for the Thames League so it will take you from Brent cross into King's Cross in about 15 minutes, if you can cut down journey times from your home to your place of work and play as they say then prices are massively going to go up.
Brett: Look guys so other areas you know we've got White City so if you're looking at a Zone One sort of place Zone Two place you know that sort of central area White City massive amount of stuff happening there. It really is that you know that's West London you know just on the outside of it. You've got huge stuff happening, a huge development that the whole area there it's just getting totally revamped.
This scenario I mean when I first moved to the UK in 2002 I lived in Earl’s court you know it was called Kangaroo Valley back then. It's amazing to see what's happening but I tell you the prices aren't cheap anymore you know it would have been nice to get something back in 2002 .
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Ritesh: We're starting that sort of shift towards the North and Northwest and if we sort of move on and pay attention to Southall but that's another big regeneration area now where Berkeley Homes again are building on 88 hectares of land. Again this is not just a development this is going to be a village. You're going to have about 4,000 new homes that are going to be built there over the next 20 years.
You're going to have commercial space, schooling again, coffee shops, the plans for a cinema, gymnasium you know and this might sound like a bit of repetition because it's the simple case of that's exactly what it is you know regeneration all these things. About getting involved with areas where you know big developers are creating a community you know you've got the Crossrail there. The station's all going to be upgraded and that will connect people from West London in towards Central London through to the East of London in very short spaces of time. There's a saying if you cut i mean you know 20 minutes to 10 minutes from one hour to half an hour whatever it may look like you know there isn't the sort of areas that do really really well they're sort of tried and trusted that model works.
Brett: Yeah 100%. So moving out onto Commuter Towns. It's interesting with the commuter town side of things because I think what we're starting to see now is lots of committed development schemes PD schemes being built out in the sort of you know the commuter towns. There's a lot of stuff happening out there there's also housing projects as well. So you know it's interesting that this is not just about London this is about now outside of London.
It used to be you know we used to say you know it was all about Zone 1, 2, 3, 4, 5 you know now it's about you know not so much the the underground zones but out into the Sloughs and the Watfords and those sort of places which are all commutable into town.
Let's address the elephant in the room which is that everybody's saying you know I know London's stuffed now because nobody's commuting in everyone's working from home all that sorts of stuff, it's interesting because most of our staff by far the majority and it was 80% last time we did the poll they don't want to work from home they actually want to work from the office.
They were desperate to get back in the office in lock down and I think as much as people are saying that no, everyone's buying properties outside of the city and they're moving out the reality is there's just as many people who want to move into the city you know because of the proximity. Make no mistake a lot of the cities now are you know building, they're building in such a way where they're you know they're catering for you know people who live there but people to commute as well and I think that's where commuter towns are potentially a great opportunity.
Let's talk about London for a bit. For me London is you know: London Property Look To The Setting Sun and what do I mean by that? well I mean look west. For many years we were actually investing effectively in East London so those you know Kidbrooke and Royal Arsenal were in East London. Let's have a look, this is a map of London now where and this isn't all of the places where stuff is happening but I just want to give you an idea. In fact I'll let you chat through Ritesh.
Ritesh: So know some spots we have seen you know a lot of regeneration and change happening and remember that word regeneration and change. Back back in 2010 we started getting involved in the London stuff, it was all East and Southeast simple reason geographic well located but you know you only lived there you couldn't afford to live in other parts that's the reality of it. But then the government started investing a lot of money in. Started working with the big developers, bringing transport lines up. Bringing in big developments and improving the style of housing that was available to live there. So all of a sudden what you saw it would change and all of a sudden prices move there exponentially. What I'm starting to see now is there's some little stuff going on in the East but I'm seeing more and more stuff starting to happen in the West and the Northwest and the North, it's almost like not much was going on there 10 years ago but now that's all beginning to kick off. In fact some of it's already kicked off if we talk about some of the areas you know you've got Colindale for example which is sort of North, Northwest London, you've got 10,000 new homes being built there. High street being upgraded you know you've got new schooling, new health facilities you know so the fundamentals are getting stronger. Another good sign you know that area is primed up in value is when the big developers come to town. So your likes of Berkeley Homes have built a huge scheme there, Galliard Homes there, Redrow in there, Fairview are there, you know me and you might invest in a property or two property there these guys are investing millions to build these developments. For them they do a hell of a lot of research and these are the right spots so when you do tend to work with these guys I'm not saying they're always getting it right they're very likely to get it right. So new jobs to be created to the expansion of Brent Cross Shopping Centre which is a pretty big scheme you've got a 4.2 million square foot box that's being created to see how much of that is going to be used or if any of that changes with a coping and work style but that's still there. About 419 million on the railway project for the Thames League so it will take you from Brent cross into King's Cross in about 15 minutes, if you can cut down journey times from your home to your place of work and play as they say then prices are massively going to go up.
Brett: Look guys so other areas you know we've got White City so if you're looking at a Zone One sort of place Zone Two place you know that sort of central area White City massive amount of stuff happening there. It really is that you know that's West London you know just on the outside of it. You've got huge stuff happening, a huge development that the whole area there it's just getting totally revamped. This scenario I mean when I first moved to the UK in 2002 I lived in Earl’s court you know it was called Kangaroo Valley back then. It's amazing to see what's happening but I tell you the prices aren't cheap anymore you know it would have been nice to get something back in 2002 .
Ritesh: We're starting that sort of shift towards the North and Northwest and if we sort of move on and pay attention to Southall but that's another big regeneration area now where Berkeley Homes again are building on 88 hectares of land. Again this is not just a development this is going to be a village. You're going to have about 4,000 new homes that are going to be built there over the next 20 years. You're going to have commercial space, schooling again, coffee shops, the plans for a cinema, gymnasium you know and this might sound like a bit of repetition because it's the simple case of that's exactly what it is you know regeneration all these things. About getting involved with areas where you know big developers are creating a community you know you've got the Crossrail there. The station's all going to be upgraded and that will connect people from West London in towards Central London through to the East of London in very short spaces of time. There's a saying if you cut i mean you know 20 minutes to 10 minutes from one hour to half an hour whatever it may look like you know there isn't the sort of areas that do really really well they're sort of tried and trusted that model works.
Brett: Yeah 100%. So moving out onto Commuter Towns. It's interesting with the commuter town side of things because I think what we're starting to see now is lots of committed development schemes PD schemes being built out in the sort of you know the commuter towns. There's a lot of stuff happening out there there's also housing projects as well. So you know it's interesting that this is not just about London this is about now outside of London. It used to be you know we used to say you know it was all about Zone 1, 2, 3, 4, 5 you know now it's about you know not so much the the underground zones but out into the Sloughs and the Watfords and those sort of places which are all commutable into town. Let's address the elephant in the room which is that everybody's saying you know I know London's stuffed now because nobody's commuting in everyone's working from home all that sorts of stuff, it's interesting because most of our staff by far the majority and it was 80% last time we did the poll they don't want to work from home they actually want to work from the office. They were desperate to get back in the office in lock down and I think as much as people are saying that no, everyone's buying properties outside of the city and they're moving out the reality is there's just as many people who want to move into the city you know because of the proximity. Make no mistake a lot of the cities now are you know building, they're building in such a way where they're you know they're catering for you know people who live there but people to commute as well and I think that's where commuter towns are potentially a great opportunity.
