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Posted by admin on October 7, 2021
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Benefits of Buying a Property in East London

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Everything You Need to Know About Living East London

East London has gained a lot of popularity in recent years especially among young professionals. After all, why wouldn’t it? Its regeneration and redevelopment schemes coupled with excellent transport links, access to a wide variety of green areas and, best of all, its affordability are benefits that are hard to pass up.

East London’s rebirth started before the 2012 Olympic Games and has continued at a steady pace ever since. Recently, with the addition of the Crossrail to the long list of good transport links, this London hotspot has seen a massive rise in interest from new residents. Buy to let investors, first-time home buyers, and renters are attracted to the area’s affordable prices and good amenities, as well as its community feel.

If you are interested in making this quaint area of London your new home or are interested in the good yields the area offers, here are the top 10 benefits of buying a property in East London.

1. Proximity to the City Airport

Being close to the airport is always a good idea. You never know when you want to take off to a sunny destination or go visit family and friends living abroad. Plus, it is also convenient for any business travel. Especially to and from Canary Wharf that’s just 15 minutes away.

 

With its over 30 destinations across Europe, the US, and the UK, London City Airport is the number one business airport in the UK. Providing easy access to and from the financial district, ExCel London, and the Olympic Park, the development of London City Airport also drove the regeneration of East London. It created new jobs and revived the local economy bringing in high numbers of international and local travellers. It also drove the development of additional infrastructure projects, as well as residential and commercial projects, increasing the area’s value. 

Together with the Docklands area, London City Airport has helped increase East London’s popularity.

 

In 2022, London City Airport will benefit from a £500 million new terminal and an upgraded runway. Annual passenger numbers are expected to increase from 4.5 million to 6.5 million.

2. Good Schools

Good schools are easy to find in East London, for young children and higher education students alike. Young families are particularly attracted by this amenity the area offers since schools are high on their priority list.

East London hosts:

  • two University of East London campuses
  • Newham College
  • the University Square – a university campus partnership of the University of London, Birkbeck and the University of East London.

The highest-ranked school in East London is the London Academy of Excellence in Stratford. Not far behind there are schools like:

  • Newham Collegiate Sixth Form Centre
  • Brampton Manor Academy
  • Ilford County High School.

East London also hosts a variety of private schools, with the Chigwell School and Bancroft School being two of the most reputable.

Photo by Lubo Minar on Unsplash

3. Canary Wharf – London’s New Financial Centre

Once East London became the focal point of the 2012 Olympic Games, its transport infrastructure was revolutionized to facilitate the incoming crowds of guests and fans. Today, East London is not only different from what it was in terms of connectivity, it actually has some of the best transport links in London.

The London Underground Central line crosses East London and offers quick and easy access to the rest of the city. The Underground District and Hammersmith & City lines offer some of the shortest commutes in London, too. In terms of transport, East London also benefits from access to the DLR and proximity to London City Airport. To top everything off, the upcoming Crossrail project (the Elizabeth line) will have two eastern sections. One running from Whitechapel to Stratford and the other from Whitechapel to Abbey Wood. Stops include Ilford, Romford, Canary Wharf, Custom House, and Woolwich.

4. Excellent Transport Links

Good schools are easy to find in East London, for young children and higher education students alike. Young families are particularly attracted by this amenity the area offers since schools are high on their priority list.

East London hosts:

  • two University of East London campuses
  • Newham College
  • the University Square – a university campus partnership of the University of London, Birkbeck and the University of East London.

The highest-ranked school in East London is the London Academy of Excellence in Stratford. Not far behind there are schools like:

  • Newham Collegiate Sixth Form Centre
  • Brampton Manor Academy
  • Ilford County High School.

East London also hosts a variety of private schools, with the Chigwell School and Bancroft School being two of the most reputable.

5. 10,000 New Homes in Barking Alone

The Mayor of London has approved plans for the development of up to 10,000 new homes in Barking, the largest regeneration project in London. The Barking Riverside project will be developed on 180 hectares formerly occupied by three power stations, located on the northern bank of the River Thames.

The project will deliver a great number of new jobs for local residents during its development and a large number of affordable one, two, and three-bedroom properties once it is completed. The Mayor’s office has already tackled the much-needed infrastructure and resident facility developments required for this impressive project to function at full potential such as a new train station and transport interchange. There is also an extension planned for the Gospel Oak to Barking London Overground line and an Overground rail link.

Apart from housing, Barking Riverside will also include shopping units, restaurants, community facilities, leisure facilities, and healthcare and school units.

Along with the development of London City airport and the upcoming Crossrail project, the Royal Docks are also transforming the face of East London. Plans are in place for over 25,000 new homes in the area and its population is expected to more than triple over the next 5-10 years.

The Docklands area masterplan includes schemes that will regenerate the docks area, the riverside, and the waterways. This will transform the area into a modern residential haven and an exciting place to call home. Other investments include:
• a business park with six million square feet of offices at Royal Albert Dock
• a new campus for the University of East London
• mixed-use developments at Albert Island and Silvertown Quays.

Infrastructure projects in the area include the Custom House Crossrail station, the first station to launch the Elizabeth line project, a twin-bore road tunnel at Silvertown, and a new Thames Clipper river taxi pier at Royal Wharf.

As far as housing projects are concerned, major developments include:
• Brunel Street Works – a £400 million investment with high-rises ranging from 9 to 26 storeys and 975 new homes
• Thameside West – a residential project comprising 5,000 new residential units
• Royal Albert Wharf – a project already under development, with the first 350-home first phase complete
• Gallions Quarter – a development located close to the Royal Albert Wharf comprising 241 new homes in three apartment buildings
• Pontoon Dock – a 236-home scheme developed by Linkcity
• Royal Wharf – a development providing 3,385 new homes on 40 acres
• EcoWorld Ballymore – comprising 1,706 new residential units
• Goodluck Hope – a project in Leamouth, Ballymore with 804 homes

6. Riverside Development Schemes

Photo by Anthony Ingham on Unsplash

Photo by Max Williams on Unsplash

7. The Olympic Village

The Queen Elizabeth Olympic Park was the catalyst behind East London’s amazing transformation. The area’s new-found vibrant and dynamic feeling is rooted in the development schemes carried out for the Olympic and Paralympic Games. These projects have rejuvenated East London and turned it into a modern urban centre with a sustainable economy and great living, education, and working facilities.

 

Residents of East London have access to great leisure spaces such as the London Aquatics Centre, the Lee Valley Velo Park, or the Cooper Box Arena. There are vast parklands and waterways, as well as sports pitches and playgrounds available for all ages and preferences

8. Westfield Stratford City

Known as the largest shopping mall in Europe, Westfield Stratford City is an East London destination in itself. It offers 250 shops selling anything you could dream of and 70 of the most diverse dining options.

 

It also hosts Vue Cinema – one of the largest all-digital cinemas in Europe, with 17 screens. Other leisure time activities you can enjoy at Westfield Stratford City include a luxury bowling alley, a casino with two bars and a restaurant, as well as amazing views over the Olympic Park.

Photo by Nick Fewings on Unsplash

9. Dagenham’s New Film Studio

Dagenham is an East London neighbourhood that is getting ready to rival Hollywood. In July 2020, the local council of Barking and Dagenham approved plans for the development of a new film studio. It will be developed on a 22-acre former pharmaceutical factory site at London East Business and Technical Park, on Yewtree Avenue. The investment will include production offices, sound stages, dressing rooms, and workshops and is estimated at £110 million. It is set to create 1,200 new jobs for local residents and help boost the local economy and development even further.

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