Property news digest 21-27 October 2013

£1 properties

A trend that started in Liverpool, and now landed in Stoke-on-Trent is a government scheme targeting Britain’s struggling areas in hope of revival. Run down properties owned by the local council are offered for sale at an appealing price – £1. Besides the quid, all that is asked of the owners-to-be is £30,000 worth of TLC, paid over 10 years.

The “Waitrose effect”

Waitrose has ramped up new branch openings in the past two years, and if you had a new Waitrose opening in your area, it was probably accepted with pride and honour. Some evidently now follow Waitrose for a good property investment. August property prices rising in Chipping Sodbury has been attributed to a Waitrose opening in the area.

Nine Elms regeneration – new high street and Northern Line tube extension

The architect behind Guggenheim Museum, Walt Disney Concert Hall and the Ray and Maria Stata Center, Frank Gehry, has been announced to design the next phase of the Nine Elms neighbourhood development, specifically to create a new high street and the extension of the Northern Line to new tube stops: Battersea, Nine Elms and possibly even Clapham Junction.

Meanwhile, Sarah Ferguson’s Battersea flat is up for sale at £1 million, 533.5 per cent increase in value since 1985. The flat where Princess Di was entertained is “one of a kind”, amongst other things, because it is in a location dubbed South Chelsea in the 80s. Now it is becoming a prime property spot, with Battersea Power Station, Providence Tower, Paynes & Borthwick, Fulham Riverside and One Tower Bridge schemes witnessing most success.

HS2 will run in a tunnel under Ealing and Northolt.

West London high-speed rail tunnel under Ealing and Northolt spanning 5.6 miles has been confirmed. With interchanges at Old Oak Common and Northolt, HS2 is to run at 250mph, and with 11 new high speed platforms added to Euston Station will connect London with West-Midlands saving commuters 30-60 minutes journey time allegedly at no extra cost.

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Katya Koval

Co-Founder at illustreets
Katya is a law graduate working in technology in the financial industry. She has contributed to the design and the development of She gets excited about profound insights and disheartened by the shortage of time for books. She is always eager to see the good and dislikes criticism just for the sake of it. She loves food and thinks that Waitrose is a food museum.

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