Barratt London, part of the largest residential property development company in the United Kingdom, has launched exciting new landmark development, Bermondsey Heights, located south of the River Thames, with JLL forecasting that the area is expected to see house prices increase by around 25% over the next five years, and rental values growing by 16%.
Stuart Leslie, International Sales and Marketing Director at Barratt London
The launch comes when favourable exchange rates for investors tied to the US Dollar are creating significant savings for those looking at the London real estate market. Furthermore, sales agent JLL has reported that similar regeneration schemes in London have outperformed properties in the same area, with prices on average increasing 5% more year-on-year, further underscoring the opportunities available.
Stuart Leslie, International Sales and Marketing Director at Barratt London, said, “Bermondsey offers great opportunities for investors, particularly those from the Middle East, able to capitalise on the favourable exchange rates. As a result of the expected excellent return on investment and high rental yield opportunities, we anticipate a raft of interest for properties in this project.”
The development lies at the heart of the wider regeneration of South Bermondsey, where a proposed new Overground station, just moments from Bermondsey Heights, promises fast connections to central London locations by early 2025, as well as two new bus routes.
Ambitious plans for the wider area include a 30-acre development project seeking to create up to 3,500 homes, 13 new public spaces, a thriving business district with office space, workshops, cafés and restaurants, a creative and digital hub and local retail, as well as a state-of-the-art sports complex and arena.
The main tower at Bermondsey Heights, with 26 storeys of high-quality residential accommodation and commercial units beneath, will house 163 private one, two and three-bedroom apartments. Every home will feature a private balcony or winter garden, offering a place to relax and enjoy the panoramic views over the London cityscape. The vast majority (95%) will be dual aspect, and all benefit from modern, open-plan layouts. The development will feature landscaped courtyard gardens, a roof terrace and a children’s play area.
Inside, the apartments come with kitchens with modern, integrated appliances and contemporary bathrooms with beautifully tiled walls and floors. At the same time, the communal areas will be finished to a very high standard with plenty of cycle parking available. In addition to the private homes, Bermondsey Heights will also provide 32 shared ownership homes.
New homes at Bermondsey Heights will also benefit from energy-saving and sustainability measures, such as efficient kitchen appliances and water taps, low energy lighting, highly insulated building fabric, a carbon-efficient centralised heating system, green and blue roofs, solar panels, and air source heat pumps, which provide 70% of the development’s energy.
Bermondsey is ideally located in the Borough of Southwark within easy reach of some of the capital’s top destinations, including Tower Bridge, The Shard, Borough Market and Bermondsey Street. Also nearby is Peckham, with its art, music, foodie scene, and thriving mix of independent shops, cafés, and restaurants, plus the Old Kent Road regeneration zone with the proposed Bakerloo Line extension.
The area is already well connected, with numerous bus services nearby, and South Bermondsey railway station is only a 10-minute walk away. It is just one stop to the major travel hub of London Bridge station, which offers a variety of National Rail services plus Jubilee and Northern line connections, linking with King’s Cross, Brighton and the South Coast, East Anglia, the North of England and Scotland.
Bermondsey is surrounded by green spaces, including the 63-acre Southwark Park with its wildlife garden, boating lake, sports facilities, and café; Deptford Park with an impressive new playground and public artwork; and Burgess Park, which has recently had an AED 33.5 million transformation.
“Bermondsey is one of South East London’s hidden gems and is an area that is flourishing and developing all the time, from the trendy Michelin star restaurants and cultural attractions to the excellent transport links and education facilities. Buying a home at Bermondsey Heights offers the chance to be part of that transformation. Homes in regeneration areas always increase in value faster than other parts of the city and buying off-plan offers the chance to lock in today’s prices.”
Prices at Bermondsey Heights are expected to start from AED2.4 million for a one-bedroom apartment. The apartments are expected to be completed in Spring 2025 and are now launching off-plan, with a show home due to open next summer.
For more information, visit www.barrattlondon.com.