Buy-to-let landlords looking to buy property in London are being urged to consider investing in what Black Brick describes as ‘two areas they may have overlooked in the past’.
The buying agency has identified Bermondsey and Fitzrovia as London’s next prime property hotspots.
On the southern side of the Thames, stretching east from London Bridge, Bermondsey was recently named London’s best place to live by the Sunday Times. While buyers can find loft apartments here for for seven-figure sums, it is also still possible to buy a one- or two-bed ex-local authority property for around £350,000.
Tom Kain, buying consultant at Black Brick commented: “For investors looking at buying in London, but without the budget for super prime/prime areas, Bermondsey and the SE1 area in general presents an opportunity to buy into a very centrally located area with excellent transport links.”
North of the river, Fitzrovia – bounded by Oxford Street to the south, Tottenham Court Road to the east, and Great Portland Street and Euston Road to the west and north – has been similarly overlooked, according to Black Brick.
Historically somewhat drab and dominated by office buildings and the estate of University College Hospital, it is undergoing a wave of development and modernisation that promises, if not outright transformation, certainly a significant polishing up.
The Crossrail redevelopment of Tottenham Court Road station is heralding a smartening up of the east end of Oxford Street and of unlovely Tottenham Court Road itself. And developers have been moving in to take advantage.
Managing Partner Camilla Dell said: “There are a raft of other smaller more boutique new build developments and re-developments of previously commercial buildings popping up in Fitzrovia, combined with significant investment into commercial buildings and infrastructure we predict the area should outperform other parts of central London over the next few years.”
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