Surrounded by Southwark, Rotherhithe, Walworth and Peckham, property for sale in Bermondsey attracts a wide variety of buyers. As part of the London Borough of Southwark, Bermondsey stretches across more than three miles of the River Thames.
The riverside property in Bermondsey started life as warehouses and wharves and suffered heavy bombing during World War II. After considerable rejuvenation, buildings which had long stood derelict are now being redeveloped into a combination of exciting commercial and residential properties.
Bermondsey has been host to London’s first railway from Spa Road station as part of the London Bridge to Greenwich line. The Bermondsey tube station opened on the Jubilee Line extension, and this increase in accessibility to the rest of the city has attracted opportunities for property investment in Bermondsey.
This sophisticated urban centre has experienced some rapidly changing fortunes thanks to its gourmet markets and sleek apartments. Its population of young professionals and affluent students have made property investment in Bermondsey a popular option. Former local authority housing has started to be sold off to make room for a new type of resident. Bermondsey now has the typical hustle and bustle of a busy city and its central location is perfect for those who seek the completely urban lifestyle.
The redeveloped wharves along the river have become some of the most expensive and upmarket accommodation in London. The most well-known of these is Butler’s Wharf, which has helped to boost the price of property for sale in Bermondsey significantly.
With a 13% increase in the price of properties for sale in Bermondsey over the last year, the average property price now stands at £650,000. This is largely due to the ongoing redevelopment of former industrial sites, which is demonstrated by the fact that house prices have grown by almost £440,000 since 2000. A weekly fee of £1,500 is the average rental cost of a three bedroom home in the area.
Bermondsey Street and Maltby Street offer a range of fashionable loft-style properties, whilst Lower Tower Bridge Road caters for the more affordable end of the market.
Bermondsey sits to the east of the world famous Tower Bridge and boasts a fantastic antiques market which regularly brings a flood of visitors.
The warship HMS Belfast is moored on the Bermondsey banks of the River Thames and is permanent fixture as part of the Imperial War Museum. The London Dungeons and the Fashion and Textile Museum also draw significant numbers of visitors.
Maltby Street Market is purveyor of some of the finest examples of world food, and a spot here is hot property in Bermondsey.