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Home NewsSales market updateWoolwich, with excellent transport connectivity, is a prime choice for living or investing

Woolwich, with excellent transport connectivity, is a prime choice for living or investing

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As London habitants, we are always intrigued by what East London has to offer,  this is because the UK Government and large corporations have thrown a large sums of money into regenerating the area into a modern “wonderland”. Perhaps wonderland does not best describe all that this popular part of the Capital offers, but there is something transformative going on here that property investors should take note of.

Woolwich, located on the south bank of the River Thames, is part of London’s Tube fare zone 4. It was home to the UK’s military powerhouse, housing the Royal Military Academy Sandhurst. It is also the original home of Arsenal Football Club and the Royal Arsenal Cooperative Society (RACS). The revitalised area has transformed into a vital, vibrant cultural district sought after by young professionals who enjoy modern city living.

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RAR Overview March 22-2
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Land, sea and air transport hub

Convenient transportation is one of the pull factors of why more people are moving to Woolwich. To start with, The Thames Clipper offers a river bus service on 5 routes with 23 stops along the river. You can also take Uber Boats at Woolwich Pier, while cars and trucks can be sent across the river by Woolwich Ferry for free. Direct flights to Europe and USA are available at neighbouring London City Airport. The existing Woolwich Arsenal station is an interchange for trains and the DLR light rail connecting it to central London.

The most exciting feature to local residents is the soon-to-launch Woolwich Elizabeth Line (Crossrail) station. The station is along the eastern part of the Elizabeth line, which will be opened in mid-2022, linking eastern and western suburbs beyond London. The new station is next to Woolwich Arsenal station. From the upcoming Woolwich Crossrail station, it is only a 7-minute ride^ to Canary Wharf; a 14-minute ride^ to Liverpool Street, where you can interchange to London Underground; a 16-minute ride^ to Farringdon; a 21-minute ride^ to London Bridge; a 25-minute ride^ to Paddington; and a 56-minute ride^ to Heathrow Airport.

Satisfying everyday needs

The middle-classes pay attention to commuting convenience and everyone want shopping convenience. There are supermarkets and wet markets next to Woolwich Arsenal Station, while fresh fruit stalls and grocery stores can be found in the nearby Beresford Square. In the heart of Woolwich, there is  the largest Tesco in East London which opens until midnight 12 am.

Rare location atop Crossrail station

Royal Arsenal Riverside (RAR) in Woolwich is a large-scale integrated residential project developed by Berkeley Group, an award-winning developer in the UK. Woolwich Crossrail Station is built within the development. It’s also where Benham and Reeves have an estate agents branch on-site, which is very convenient for our investor landlords.

RAR provides comprehensive amenities, including dental clinics, medical clinics and banks, satisfying daily needs of residents within the development. The self-sustained community is in close connection with other communities. In addition, it is adjacent to Woolwich Works, which was rated as London’s Best New Culture Spot by TimeOut, and the newly opened Punchdrunk, injecting premium lifestyle and vitality to the area.

There are prominent educational institutions nearby including many primary and secondary schools rated as Good and Outstanding by Ofsted. Saint Mary Magdalene Church of England All Through School and Pulse and Water College, rated Good, are within 12 minutes of walking distance. Cardwell Primary School and St Peter’s Catholic Primary School, rated Outstanding, are an 18-minute walk away.

Above all, the developer has a solid background. Berkeley has won sustainability awards for the past 9 years in running, and was the winner of Transport for New Homes Award 2019. After years of revitalisation work, RAR provides a superior living environment. Berkeley will invest GBP1.5 billion in the area by 2030.

Capturing opportunities at an attractive exchange rate

Built along the banks of Thames, many units of RAR enjoy a mesmerizing river view or side river view through floor-to-ceiling windows in the living room or master suite. The kitchen and bathroom come fully equipped with finishing and essential electrical appliances. LED lights highlight the top of the kitchen cabinet, while the bathroom is laid with marble tiles on the walls, equipped with mirror cabinets, and decorated by LED lights.

The most striking feature of the project is its waterside clubhouse, offering a fitness room, spa, sauna, swimming pool, and private cinema. Royal Arsenal Riverside provides one- to three-bedroom apartments, all complemented with a balcony. Prices start from GBP512,500*.

BNO visa application for Hongkongers has been opened for more than a year. Recently, the British Home Office plans to relax application eligibility, which will be more conducive for Hong Kong people to move to the UK. Buyers who make purchases now can leverage the enticing exchange rate from HKD to GBP to reduce their spending on a new home.

To learn more about the prospects of the Woolwich property market and Royal Arsenal Riverside, click here.

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About the Author

Established in 1958, Benham and Reeves is one of London’s oldest, independently owned property lettings and sales agents.  With specialism in residential sales, corporate lettings and property management in prime areas of London, the company operates from 19 prominently located branches and 8 international offices.

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