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Royal Arsenal - Premier Area
The Royal Arsenal - Perks of Living in One of London’s Premier Development Areas
Up until recently the Royal Arsenal was known as a military site, so how come it’s now one of London’s Premier Development Areas? And what are the perks of living at the Royal Arsenal?
Transforming a Military Site into a Residential Site
In 1994 the Royal Arsenal ceased to be a military facility and six years later the Berkeley Group won a bidding to invest in the site. Originally the plan was to build 700 houses, but soon the Berkeley Group had committed to building 3,000 homes, as part of a larger plan including public spaces, community areas, entertainment facilities and businesses. Other investors also got involved in the project.
The developers didn’t just tear down the old buildings though - they were restored, refurbished and repurposed. As a result, the site offers a unique combination of old historic landmarks and new high rises. And there’s a museum and a heritage center, for visitors interested in its past military glory.
The Perks of New Buildings
Living in old Victorian houses can be ever so charming, but often they need a lot of work, or you will sit with a damp, cold house, teeming with mice. New houses are built using new materials and techniques, minimizing things like cold drafts and rattling windows.
Thanks to all old buildings being refurbished they are also made to a high standard.
A Developed Area - Something Which Has Been Thought Through
Organic developments are nice in that they have unique character - you will find a mixture of architectural styles and quirky business initiatives. However, the perks of an area that’s been planned in advance is that the developers ensured there is a nursery, a cinema, a gym, shops, a medical center and so forth.
The Berkeley Group was determined to ensure that transportation to central London was convenient.
The DLR (Docklands Light Railway) was extended to the nearby Woolwich Arsenal, the Thames Clipper Service was extended to the Royal Arsenal Riverside (fancy that - you can take a boat to work!) and in 2018 the Royal Arsenal Crossrail Station is set to open its doors.
The Royal Arsenal is close to the London City Airport - it takes 7 minutes to get there with the DLR from Woolwich Arsenal.
When the Crossrail station opens, it will take 8 minutes to get to Canary Wharf, 14 minutes to get to Liverpool Street and 22 minutes to get to Bond Street. In other words, wherever you want to get to in central London will be easy to get to.
Lower Rents and Property Prices
Thanks to the Royal Arsenal being outside of central London, prices are lower, yet getting to central London is easy. Hence, if you’re looking for that New York style apartment, or a penthouse apartment looking out over the River Thames, but you don’t want to pay the prices you have to in central London, then you should get in touch with a property management company at the Royal Arsenal.
You can basically live the perfect city life - a view over the river and catching a boat to town, but pay much less for it than you’d ever dream of.
Culture and the Arts
The Royal Arsenal is part of the London Borough of Greenwich, which has invested a considerable amount of money into culture and the arts in recent years. As a result, according to the borough, arts, culture and tourism contribute “£1.2bn to the local economy each year.” In turn it supports more than 16,000 jobs. And this development is about to reach the Royal Arsenal too as the borough has set aside some buildings for well established arts and culture organizations.
As a residential area is developed, so are business opportunities. People want everything from daily household supplies, to entertainment and education. As prices have been low, companies have moved in and grown together with the development site. The earlier you get in, the lower the prices and the higher the chances of growth. Of course it’s important you get involved during the right stage for your business - it makes sense to offer a convenience store to 700 people, but not necessarily a dance school. As 5,000 homes in total are planned for 2030, there will be plenty of people to offer dance classes to by then though.
Old, organic, sites might offer their charm, but new developments offer luxurious amenities, there’s rhyme and reason behind the development and you have plenty of business opportunities around you.
We are a property management company that deals with housing in the Royal Arsenal residential area and SE London. If you have questions, give us a call, or you can schedule an appointment by sending us a message online by clicking here.
Greens Lettings is a property management company based in Shooters Hill, London. As your HMO expert in SE18, we continue to serve places in South East London such as SE2 (Abbey Wood), SE3 (Blackheath), SE7 (Charlton), SE9 (Eltham), SE10 (Greenwich South St), SE18 (Woolwich), SE23 (Lewisham) and SE28 (Bexley) — just to name a few. We are your local online letting agent specialising in HMO conversions and full management. We offer free consultation and free property valuation. Contact Greens Lettings here.