Astons London area guide
Antony DiLieto, Director of Astons London estate agent, explains why the W2 area has proved so attractive to homeowners, investors and tenants.
Everything on your doorstep
With its central location, luscious greenery, stunning parks, calming lakes and picturesque canals, ample transport links and impressive architecture, W2 has earned the reputation it deserves.
Glorious Hyde Park is a stone’s throw away; Park Lane and Notting Hill merge seamlessly from its borders and it is only a short trip to both the West End and Knightsbridge, not forgetting the luxury hotels and the area’s historically important Grade I-listed Paddington Railway Station; this extraordinary area is coming into its own and W2 is fast becoming the postcode of choice.
Local investment and regeneration
Since 2000, W2 has undergone one of the grandest commercial and residential regeneration projects; the Paddington Basin, with all its surroundings being regenerated has given rise to many investment opportunities. Almost 80 acres of land has been redeveloped into some of the most stunning commercial and residential units. There has also been a great deal of investment in transforming and rejuvenating existing property in the area; tired buildings have been restored to their former glory.
Superb transport links
Alongside investment in property, there has also been investment in improving and expanding Paddington Station, which conveniently offers five underground tube lines, the Express train direct to and from Heathrow Airport in addition to main overground lines to the West Country.
Crossrail’s Paddington Integrated Project will be completed by the end of 2018, promising to significantly reduce journey times to the West End, Docklands and south-east London. It will also provide improved access to Heathrow, west London and Berkshire, and make Paddington just a 10-minute journey to Liverpool Street and a 17-minute journey to Canary Wharf. This makes property in W2 a prime target for both national and international investors.
Unparalleled investment potential
W2 has seen an increase in overseas buyers with a long-term view of the London property market and its capital growth potential. Investors are buying for their children rather than renting as this has become more cost effective. In the rental market, there remains an influx of people returning to high-end UK employment contracts, increasing demand in prime rental stock in an exclusive part of London which offers fantastic transport links. High demand and limited supply of properties continues to force rental prices to increase substantially, and a significant change has been observed in the number of tenants, be they professional or academic, UK-based or from overseas, seeking to rent property in the area.
Choice and variety
Many of the W2 areas, such as Bayswater, have become some of London’s most cosmopolitan. It is renowned for its peaceful garden squares and elegant white -stucco-fronted terraced houses, many of which have been converted into flats. The architecture, combined with the central location, attracts successful young professionals and wealthy families. There is a significant international population, with residents from across the globe. What makes this area so unique is that, despite its central position, W2 borders Hyde Park and Kensington Gardens, which gives it a sense of calm amidst the usual London hustle and bustle.
A lifestyle choice
W2 is quite simply superb; everything you need is a stone’s throw away. There is a wide range of reasons to choose W2 as your home. With so many wonderful qualities, from lovely places to walk, to historical sites, great transport connections, special destinations for dining; not forgetting that it is home to Whiteleys, one of London’s oldest shopping centres, and a short distance from the world-famous Selfridges department store and, of course, Oxford Street. Need we say more?