AWM explores the growth and potential of London’s emerging cultural centrepiece

 Spanning 150 acres and wrapped by 1.6 miles of the River Thames, Greenwich Peninsula is one of the largest urban regeneration schemes in Europe.

The former industrial land is being transformed by developer, Knight Dragon into a modern urban neighbourhood, an area twice the size of Soho.

Seven diverse new neighbourhoods will be formed, alongside new shops, restaurants, event venues, a brand-new school and an elevated cultural walkway.

“Over the coming years, the regeneration of Greenwich Peninsula will see the creation of a new district for London, with 15,000 homes, 13,000 new jobs, restaurants, shops and an eclectic new cultural offering – creating a highly desirable place to live, which, in turn, increases the demand for homes,” says Kerri Sibson, Sales and Marketing Director, Knight Dragon.

She adds: “According to JLL, residential price growth at Greenwich Peninsula is expected to outperform the Central London average over the next few years, and is forecast to grow 12.5% between 2020 and 2022, while rental growth is also expected to see a 9.5% increase – with demand driven by the significant progress at the neighbourhood, as well as the strong employment growth in nearby Canary Wharf.”

Waterfront living

 One of seven new neighbourhoods at Greenwich Peninsula, Upper Riverside is a striking new addition to London’s iconic skyline. It comprises a family of five waterfront buildings designed by SOM, one of the global leaders in architecture. Sculpted in glass and stone, and interspersed with landscaped walkways, Upper Riverside’s distinctive prism-like architecture, with a stepped and angled design, cascades to the edge of the Thames.

With a range of styles to suit all lifestyles and tastes, each building at Upper Riverside features a unique design approach by British design icons, including Tom Dixon and Studio Ashby.

Transport links, bringing London together

Residents are served by North Greenwich Underground station (Jubilee Line) on the doorstep, so they are able to reach Canary Wharf in just two minutes.  By boat, regular services from North Greenwich Pier run to Canary Wharf, Tower Bridge and The London Eye, as well as other piers.

“Zone 2 is the new Zone 1,” says Kerri. “With a transport network as efficient as London’s, distance is little of an issue – Mayfair is just 15 minutes direct on the Jubilee line, which is quicker than most taxi journeys within the centre.”

She adds: “And, as such, the heart of the capital is rippling outwards. Some of the city’s biggest attractions and beloved brands, like English National Ballet, are making East London their home. The key difference is the investment potential; with values having been typically lower than Zone 1, and slower to inflate in the recent market flux, it presents good value and imminent room for capital growth with very little compromise by way of connectivity and convenience.”

A Club for wellness

 Dedicated to wellness and relaxation, the Upper Riverside Club offers exceptional facilities spread across the five buildings. No.2 Upper Riverside is home to Renew, designed by Tom Dixon. Renew is located on the 15^th floor and features a 20-metre pool, a steam room, Dixon-style changing rooms and two state-of-the-art gyms, as well as a landscaped terrace with soft seating, providing the perfect place to relax outside. Here, residents can use state-of-the-art fitness and leisure facilities surrounded by spectacular views.

In addition, the Upper Riverside Club offers a cinema room for communal screenings or private use, event spaces, libraries and co-working spaces. With the Club housed across the five buildings it encourages residents to get out and meet their neighbours. The Club experience is supported by a dedicated on-site Lifestyle Manager to help with everything from restaurant bookings, theatre tickets and travel arrangements.

Dining and culture

 The Peninsula is also now home to a number of niche restaurants and cafes, as well as Magazine London, a purpose-built 24,179 sq m event space with capacity for 3,000 people. A local hub of contemporary art, NOW Gallery is a public exhibition space for contemporary art, fashion, photography and design. There will also be a Golf Driving Range, and London’s first ever cultural linear landscape, The Tide – a 5km long landscaped route with elevated walkways and sunken gardens. The first 1km of The Tide, which opened in July 2019 and weaves through Upper Riverside, boasts monumental pieces of public art designed by renowned artists, including Damien Hirst and Allen Jones.

Investment

The Lettings team at Greenwich Peninsula handle the entire process on behalf of investors, from providing advice on rental values and yields for potential investors, marketing to find tenants, negotiating a deal for a tenancy, rent collecting and accounting to managing the tenancy.

“Sales and lettings are all handled by the Greenwich Peninsula team, meaning a seamless experience for investors, from purchase of the property through to its rental,” says Kerri.  “As investors are dealing with the same company throughout, they can expect the same high level of service.”

No.5 Upper Riverside is set to come to the market this March and marks the final chapter of Upper Riverside and the completion of the prime waterfront address – located at the heart of London’s new cultural district.  

With a range of studios to three-bedroom penthouses available, prices at Upper Riverside start from £450,000 for a studio apartment. For further information on Upper Riverside, contact 020 3713 6153 or visit upperriverside.co.uk