In our Investing in South East London and Kent Series, today we feature the beautiful town of Woolwich Arsenal in South-East London.
Woolwich is a great place for Investors, first-time buyers and families looking for value for money, as property prices in this part of London are considerably lower than most other places. With a DLR and overground connection, Woolwich has experienced one of the biggest regeneration projects in London in recent years, yet rental yields for investors is still in the region of 5-8% per annum, unlike similar areas in London where rental yields are much lower.
Woolwich has a vibrant town centre and the Royal Arsenal, home to Firepower – an interactive museum detailing the UK’s war history. Woolwich is bordered by Shooters Hill and Plumstead and is in the neighbourhood of Oxleas Woods and Shrewsbury Park.
Woolwich Common regularly hosts fairgrounds and circuses and Woolwich Army Barracks, just off of Woolwich Common hosted the shooting events for the 2012 Olympics. For families, Woolwich has no shortage of schools, including Woodhill Primary School, Shooters Hill Post-16 Campus, Greenwich Community College, Trinity College of Music, as well as being home to the University of Greenwich.
The mainline railway directly links to London Bridge in 20 minutes, then on to Cannon Street or Charing Cross (via Waterloo East). Woolwich is also home to a DLR station, while the Royal Arsenal has a river taxi pier. There’s more to come with the Royal Arsenal estate also a designated site for Crossrail station. The is also the free Woolwich Ferry that connects Woolwich to East London and City Airport.
Woolwich is certainly a great place to live or invest. You get value for money and with all the regeneration happening around, the potential for growth is huge. Here’s a snapshot of average sale and rental prices:
|Woolwich||Average Rent||Average Sale|
|Studio||£400 – £600||£80,000- £120,000|
|1 Bed||£600 – £800||£180,000 – £190,000|
|2 Bed||£1100 – £1300||£200,000 – £270,000|
|3 Bed||£1300 – £1400||£220,000 – £300,000|
|4 Bed+||£1600 – £1700||£250,000+|
Interested and need someone to talk to? Please feel free to give us a call.
PROPERTYmajor provides a friendly, unique residential lettings & property management for landlords looking to invest in South East London and Kent. If you would like to request some of our guides or fancy a no obligation chat, please call us on 01322 518 020 or visit our website www.propertymajor.com