- Newham has the lowest average salary and one of the lowest house prices in London. It was meant to be a key beneficiary of the redevelopment plans for the London Olympics. Stratford, in Newham, was the direct recipient of £17 billion worth of transport links installed ahead of the games.
- The long-term vision includes two new schools, 8,000 new homes, 1.9 million sq ft of retail and entertainment areas, 22 miles of cycle and footpaths, nine miles of new roads and four miles of waterway and five world-class sporting venues.
- Some of the Olympic legacy venues have begun to be used. In early 2014, residents started to move into East Village that housed athletes, a new scheme purpose-designed for renters. Get Living London, the Delancy / Qatari Dair joint-venture that manages East Village, offers clients a range of tenancy lengths and rents that include broadband, Sky and furniture packages.
- East Village is achieving rentals around 35% higher than the second-hand stock in the area. This reflects the superior product, as well as the bespoke rental packages, giving tenants a hassle-free, safe and secure home. The scheme has attracted a range of young professionals, including singles, couples and young families.
- East Village has attracted a new demographic of “aspiring homemakers” into the area. They are being seen as a kind of proof of concept that developers can create an entirely new destination and attract home-makers from completely different parts of London. This example of “placemaking” might encourage developers looking to carve out a more prospective location from the existing character of a locality.
source: London living: A borough by borough showcase by CBRE
Related stories:
London: Borough by borough
LONDON PROPERTY PRICES: Southwark
SHARE
SPONSORED CONTENT
TOP PICKS BY EDGEPROP
SALE
FEATURED
Petaling Jaya Commercial City
Petaling Jaya, Selangor
RM 44,900,000
- beds |
- bath |
145000 sqft
SALE
FEATURED
Seri Mutiara Apartment, Bandar Baru Seri Alam
Masai, Johor
RM 380,000
3 beds |
2 bath |
1409 sqft
SALE
FEATURED
D'Ambience Residences (Ikatan Flora), Bandar Baru Permas Jaya
Permas Jaya/Senibong, Johor
RM 330,000
2 beds |
2 bath |
876 sqft
RENT
FEATURED
Balakong Jaya Industrial Park
Balakong, Selangor
RM 22,000
- beds |
- bath |
8500 sqft