BERMONDSEY REGENERATION PRESENTS RARE OPPORTUNITY FOR BUYERS, WITH ZONE 2 LIVING AT A ZONE 3 PRICETAG

• New research by sales agent JLL reveals average price per square foot at Barratt London’s Bermondsey Heights is 21% lower than the Zone 2 average.

• What’s more, 77% of new build schemes currently on the market in Zone 2 cost more per square foot than Bermondsey Heights.[1]

Buyers seeking their next investment opportunity in the capital should turn their attention to Bermondsey, according to new research unveiled today by sales agent JLL.

Bermondsey Heights, a brand-new zone 2 development by Barratt London, south of the River Thames, is in the heart of Bermondsey’s dynamic regeneration. Launched off plan last year, the first homes are due to complete in summer 2025 – yet almost half of homes have already been sold to savvy buyers seeking a good return on their investment.

According to sales agent JLL, the price per square foot at Bermondsey Heights is 21% lower than the Zone 2 average of £1,061– with 77% of schemes currently on the market in Zone 2 priced higher than the new development.[2] Bermondsey’s house prices remain resilient – yet crucially, homes in Bermondsey are currently at a 21% discount compared to Greater London.

Yolanda Jacob, Sales & Marketing Director at Barratt East London comments: “Bermondsey’s regeneration story is one that has already begun – and further projected investment into the district only bolsters its future success. Bermondsey’s micro-market tells a further positive story, with strong buyer demand thanks to all the advantages of Zone 2 living at an attractive Zone 3 price tag.

“Homes in regeneration areas typically increase in value faster than other parts of the city, and buying off-plan offers the chance for buyers to lock in today’s competitive prices while still having time to save for other expenses such as furniture or moving costs; this is particularly beneficial for first time buyers. Bermondsey is one-of-a-kind, and buyers purchasing a new home at Bermondsey Heights today will likely reap the rewards from move in day.”

The main tower at Bermondsey Heights, comprising 26 storeys of high-quality residential accommodation with commercial units beneath, will house 163 private one, two and three-bedroom and 32 shared ownership apartments. The development will feature landscaped courtyard gardens, a roof terrace and children’s play area. Boasting panoramic views over the London cityscape, the apartments are expected to be completed in summer 2025 and are available off-plan, with a show home due to open early 2024.

New homes at Bermondsey Heights will 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, and 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 only a 10-minute walk away. Ambitious regeneration 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.

Prices at Bermondsey Heights start from £455,000 for a one-bedroom apartment.

For further information about Bermondsey Heights please visit www.barratthomeshk.com or whatsapp +852 9727 7731.

[1] JLL analysis of Dataloft (August 2024)

[2] JLL analysis of Dataloft (August 2024)