Since 2000, the £1,000 per sq ft price point, which is considered to mean when new-build London residential property enters prime territory, has spread out from its traditional hub near Hyde Park at a pace of about 1km every 8 years, according to CBRE Residential Research. Qatar For Sale - Property Hunter
However, due to land availability and the fabric of some cities, this symbolic significance has not spread evenly across London. With Bloomsbury and Aldwych joining St John's Wood as new value epicenters, the greatest movement has been eastwards into the City and the Southbank.
Currently, the £1,000 per sq ft price point is only found south of the River Thames in the Southbank, but CBRE believes that places like Nine Elms and Battersea, as well as Wapping and Whitechapel, will soon reach this critical level.
"A decade ago, the only areas achieving £1,000 per sq ft were those to the immediate south and east of Hyde Park, home to the famous'monopoly board' areas of Knightsbridge, Mayfair, and Belgravia," Jennet Siebrits, CBRE's Head of Residential Research, tells World Property Channel. These regions are now achieving nearer £3,000 per sq ft, and in some cases, twice that, and the £1,000 per sq ft price point has spread to new areas. The majority of new homes in central London now sell for over £1,000 per square foot, but the trend hasn't followed a predictable pattern. For example, it outpaced the midtown corridor, with prices in Soho lagging three years behind those in neighboring areas. Even though Whitechapel is closer to the current boundary, the wave will continue to be disjointed in the future, with places like Wapping entering the party earlier than Whitechapel due to its attractive river frontage and superior infrastructure."
Park Wood Place Apartments in London are 30% sold out.
(Banstead, United Kingdom) — Park Wood Place is proving to be a famous addition to the sought-after village of Banstead only a few weeks into its sales period. For example, Shanly Homes' contemporary range of 24 two-bedroom apartments is already sold out.
"This beautiful new development, which exudes elegance and modernity, has already sparked a lot of interest," said Shanly Homes sales manager Jo McDonagh. "With a third of the homes already sold, potential buyers can act quickly to prevent disappointment."
"Park Wood Place, conveniently located just outside of London, is ideal for a wide range of buyers, from commuters and downsizers to first-time buyers and professional couples." Given the level of interest so far, I am confident that they will sell quickly."
Hot red brick and attractive detailing around windows and doors adorn the apartment buildings' exteriors, while extra-high ceilings and large windows give the interiors a light, airy feel and a sense of grandeur. A light-filled open plan kitchen and dining area, two generously sized bedrooms, a main bathroom, and an en-suite steam room for the master bedroom are all featured on the interior. According to Shanly Homes, these apartments are truly magnificent, with a finish and specification that would be found in a high-end executive home.
Park Wood Place is conveniently located near over a hundred stores, bars, and restaurants on Banstead's bustling high street.
Despite its proximity to central London, Banstead is surrounded by greenery, including the Millennium Trail and Nonsuch Park, which houses the ruins of Henry VIII's fabled 'lost palace.' Banstead's impressive collection of golf courses will also appeal to keen golfers. Banstead Downs Golf Club, Cuddington Golf Club, and the prestigious Kingswood Golf and Country Club, one of the best in the South East, are among them.
Banstead is extremely well connected, with the A23 and A24 both within easy reach, offering convenient access to London, Heathrow, and Gatwick, and Park Wood Place is just one mile from Banstead Station.
Prices begin at £240,000.
Shanly Homes is a well-known real estate development firm with over 40 years of experience. Shanly Homes focuses on small to medium-sized projects in the Thames Valley, Greater London, Berkshire, Buckinghamshire, Surrey, Essex, Middlesex, Oxfordshire, Hertfordshire, Hampshire, and Kent.