An unprecedented amount of developmental skill and energy is currently being expended on the shoreline area of the River Thames known as Nine Elms. The aim is to not only enhance the desirability of SW8 as a place to live, but also into a corner of London where innovation goes hand in hand with inspiration. While the apartments will naturally benefit from superb views, futuristic amenities and great transport links provided by Zone 1 Vauxhall Tube station, Nine Elms is destined to be so much more than just another luxurious hub for well-heeled corporate professionals.
Spaces are being created for cultural growth with new public art installations and art galleries a welcome priority. Stunning roof gardens, high-rise swimming pools and linear parklands will focus on quality of life like never before; in fact, Nine Elms is all about taking regeneration a step further into the realms of “Placemaking” which is the formation of whole new communities and lifestyle options in the Capital. The ambitious size and scope of this £15 billion project means that buying into its early stages should rank high on the list of any serious property investor’s options.
Being situated south of the river presents no barrier to Nine Elms’ growing reputation as a desirable rental location and it is more than ready to be ranked alongside such historically prestigious neighbours like Chelsea and Knightsbridge. In fact, our Nine Elms branch is ideally positioned and ready to assist both landlords and tenants who might be considering buying or leasing a rental property in the area.
Seen from the vantage point of Chelsea Embankment which occupies the opposing riverbank, Nine Elms is an impressive lineup of pristine new property developments – each with a bespoke exterior design and access to the Thames. A closer look at ground level reveals that a highly-sophisticated infrastructure is being put in place and a strategic part of this plan is the creation of a new Tube line which will extend from Kennington, through to Battersea Power Station. This will have the same galvanising effect on the area that the Jubilee Line extension had on the districts around Canary Wharf with many of the Nine Elms high-rise apartments already set to become familiar landmarks.
St George Wharf with its distinct block known as ‘The Tower’ is a striking introduction to Nine Elms. Positioned near the Vauxhall Bridge and the equally photogenic MI5 headquarters, it consists of 48 floors and is one of London’s tallest residential buildings. St George Wharf marks the eastern boundary of the regeneration area and has one, two and three bedroom flats which can be purchased from £549,000.
The middle sector of Nine Elms is dominated by a couple of prominent new property developments – Riverlight and Embassy Gardens. Residents here are still close enough to the Zone 1 travel benefits and vibrant club culture that has made Vauxhall one of London’s trendiest destinations. Each group of apartments in this mini-enclave has its own attractive qualities. The six uniquely shaped structures that make up Riverlight ensure that natural light is never wasted. Embassy Gardens has already attracted rave reviews owing to the presence there of a “Skypool”, a swimming facility that connects its twin towers ten storeys above ground level; residents can visit their neighbours by literally ‘swimming across the street’.
Newly built by Barratt London, Nine Elms Point has two strong selling points that will attract professionals working in the City. The first is its proximity to the planned Northern Line extension that will run down from Bank station via Kennington. This will cut commuting times to the Square Mile considerably and will also connect the Nine Elms area to the chic southern enclave of Clapham. The Nine Elms Point development will be the site of the first station on the new line and residents will therefore have direct access to this revolutionary service. Apart from scoring highly in terms of convenience, Nine Elms Point is also the home of our new Benham and Reeves Lettings branch whose team will be on hand to provide expert help and advice to landlords as well as the day to day management of their properties. Two, three and four bedroom apartments are available to buy from £850,000 to £2.7 million.
The single biggest factor which is set to elevate the Nine Elms neighbourhood to something much more than just another redevelopment scheme is to be found on its western borders. Living next to an industrial monolith used to guarantee depressed house prices coupled with urban blight, but not any longer. The famous silhouette of the long defunct Battersea Power Station is now an iconic backdrop to a bold new venture that will see tech giants Apple establish their London headquarters nearby on the shores of the Thames. Taking its name directly from its illustrious predecessor, Battersea Power Station is now home to a series of eye-catching apartment complexes that will not only attract corporate professionals, but also technopreneurs, wealthy post-grad students and those involved in the creative arts. These are the kind of tenants who readily see the potential in start-up businesses and actively spread the word about places to live, eat and relax through social media channels. Their finely-tuned aesthetics appreciate the history of their surroundings while also recognising the importance of community-based initiatives like roof gardens, cycle paths and public art.
Battersea Power Station is designed to fulfil all these criteria and more. The first phase, made up of blocks A and B will complete this month and successive elements of the scheme (D,E and F) will follow by the middle of the year. These launches have become eagerly awaited events as one ground-breaking piece of architecture follows another. Prospect Place and Battersea Roof Gardens are perfect examples of the imaginative approach to redevelopment that fuels the ethos of Battersea Power Station. Cascading balconies, asymmetrical windows and unusual sight lines all speak of a distinct new destination for discerning Londoners. Sale prices are now much higher than they were at launch; £1.33 million and £1.9 million for a two and three bedroom apartment respectively and the long-term benefits of these as rental investments continue to attract buyers.
The Power Station development does not exist in isolation. Nearby is Battersea Exchange, a new mixed use development located on the corner of Battersea Park Road and Queenstown Road. Located near the new St Mary’s RC School as well as shops, offices, restaurants, it is bound to attract young families as well as corporate professionals. Amenities include a private gym, bike storage and a concierge service.
Substantial investment in Nine Elms has come from both public and private sectors, who are each committed to ensuring that this groundbreaking regeneration effort benefits London as a whole. The pedestrianisation of the area around Vauxhall Bridge will be a popular move, as will the planting of a riverside stretch of greenery. The Tube extension that will terminate at Battersea Power Station is key and will be carried out with the minimum disruption. Vauxhall Station itself is an important Zone 1 transport hub on the Victoria line tube route that runs into the heart of the West End and an Overground connection to the rail terminus at Waterloo. The overall effect is that of Nine Elms being part of an affluent belt of urban districts that stretch from Knightsbridge, through Chelsea and across the river to Nine Elms and Battersea, before connecting with Clapham in the south. Residents of Nine Elms will now have the perfect excuse to shop in Harrods before lunching at Gordon Ramsay’s Michelin-starred flagship restaurant in Chelsea while planning a night out at Clapham’s Inferno for a spot of late-night dancing.
With so many units coming onstream, landlords need to ensure that their apartments stand out, therefore we recommend investors consider putting in a professional furnishings package in order to attract a tenant as soon as the apartments are available. Our lettings team are always on hand to advise on furnishings, letting and property management so if you have a property in Nine Elms and would like a free rental valuation please contact myself, at our Nine Elms branch .
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