JLL cites Old Oak Common as London’s greatest regeneration opportunity area
JLL cites Old Oak Common as London’s greatest regeneration opportunity areaGlobal property consultancy JLL has cited Old Oak Common as London’s greatest regeneration opportunity area due to its strong combination of connectivity, economic potential and lifestyle improvements. Home prices here could grow by nearly 30 percent…January 14, 2022
Global property consultancy JLL has cited Old Oak Common as London’s greatest regeneration opportunity area due to its strong combination of connectivity, economic potential and lifestyle improvements. Home prices here could grow by nearly 30 percent over the next five years with rents rising by as much as 13.7 percent across the same span.
All of this makes the Old Oak regeneration area an attractive property investment destination. JLL believes home price growth will outpace both London and the UK as a whole. Additionally, rental prices should pick up significantly starting in 2023. Both trends are expected to carry on past the end of the decade as the benefits of new transport connectivity are realized.
The area is set to become a key strategic corridor with seven rail and tube lines, including the High Speed 2 line and Crossrail, intersecting the district. Old Oak hosts London’s only transport ‘Super hub’, which when delivered, will make Old Oak Common the best-connected location in the UK. It will be possible to reach London’s West End in 8 minutes, while Heathrow Airport will be a 20-minute train ride away. Schedule to open in 2026, the station is expected to serve up to 250,000 passengers daily and connect passengers to locations outside of London in record time.
Transportation improvements will be supported by the Old Oak & Park Royal Development Corporation (OPDC) Local Plan that will shape this into one of London’s most desirable places to live and work. The OPDC will transform the area into a vibrant hub with a diverse mix of residential, industrial, commercial and recreational amenities.
Most recently, Imperial College London unveiled plans for a GBP1 billion redevelopment of Carphone Warehouse’s headquarters in North Acton. According to reports, the massive mixed-use development will see 1,400 residential units built as well as a new office space plus a retail and leisure offering for the site’s current tenants and local community.
When work is complete, a total of 65,000 new jobs will be created in the Old Oak regeneration area with the estimated annual gross value add of GBP 7.6 billion.
Investing in London’s greatest regeneration opportunity area
One West Point is the most notable residential project being developed in London’s greatest regeneration opportunity area at the moment. It will stand 54-stories upon completion, making it the tallest residential building in West London and the 16th tallest in the capital.
Benefitting from a strategic location, One West Point is ideally situated to take advantage of all the opportunities provided in the Old Oak regeneration area, including the attractive educational aspects of this part of London.
If you would like more information regarding One West Point, it is now possible to schedule a private, one-on-one appointment with Savills Thailand in Bangkok or arrange for an online meeting. During your consultation, you will have the opportunity to learn about One West Point and North Acton. Appointments are available in Thai and English.