Businesses Stimulate Growth In The London Residential Property Market
Finefair, the leading name for investment property in London, look at the implications of Apple moving in to Battersea Power Station
Technology giant Apple recently confirmed that it would be establishing a new UK head office at the Battersea Power Station site. The company will take up a six floor, 500,000 sq ft presence within the regenerated site, with the value of the entire project currently estimated to be £8bn. Finefair, the highly rated London investment property management group, believe the move will have positive consequence for the value of both residential and commercial property in the area.
In respect of commercial property deals, the presence of Apple within the Battersea regeneration project is a major coup. Few, if any, brands have the strength of draw which Apple can currently claim. A natural consequence of this is that many other businesses - in particular those in the tech industry - will now be actively seeking space for their own headquarters in the same area.
Whilst a great deal of focus is on the commercial property market surrounding the new Apple headquarters, Finefair is putting a great deal of focus on the residential sector. There are a number of precedents in place for the arrival of big businesses having a positive impact on the growth in value of surrounding residential property areas.
A comparable case of what Finefair means by this can be seen in events from nearly a decade ago. During 2007 Electronic Arts (EA) moved their UK headquarters to Guildford. The effect this had on the residential property market was remarkable. Whilst the decade before EA's move had seen property prices fall far behind the national average, the years since the move have brought record levels of growth to the residential market. Finefair believe the same will prove true of the residential property market in Battersea and across the London Borough of Wandsworth.
Over the course of the last few years the London property market has been characterised by exceptional growth levels. This growth has, for the most part, been driven by increased demand levels. Developments such as the headquarters for Apple moving into the Battersea Power Station site are viewed as ensuring this growth is sustainable.
Finefair, the leading name for investment property in London, have welcomed the news that Apple will be placing itself at the core of the Battersea Power Station rejuvenation project. They are the property market experts best positioned to enable investors to access the best possible returns from property portfolios.
Finefair Ltd prides itself on being one of London and the UK’s premier property management organisations within the Private, Corporate and Social Housing Sectors.
Nov 22, 2016