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Bayswater London Hot Spot Investment Beckons UK Property News

Bayswater ‘Hot Spot’ Investment Beckons

30.05.24

Areas such as Kensington and Chelsea feature in the top ten richest neighbourhoods in London. Property prices in these areas are more than double that of the London average of c£700,000. Buy a property to rent out in Chelsea and you could make yourself an impressive £5,824 per month. Other areas on the rich list include Notting Hill, with an average property price of just over £1m, West Brompton at just under £1.1m, and Marylebone at around £1.7m. Knightsbridge is top of the list at £3.2m, closely followed by Mayfair at £3.1m.

There’s a 'new' location attracting investors however, when it comes to high-end property. Nestled next to Notting Hill, to the north of Hyde Park, is Bayswater, an area many are predicting is going to be the next big thing on the London property scene.

Bayswater’s blend of cosmopolitan charm and investment potential makes it an attractive option for UAE and other residents looking for a second home in London. With its proximity to prestigious areas like Kensington and Chelsea and relatively more affordable property prices, Bayswater offers a unique opportunity for high-net-worth individuals from the UAE to invest in one of London's emerging prime locations.

One of seven neighbourhoods surrounding central London’s biggest park, W2 has historically seen precious little top-end development activity. In 2012, however, this all changed, when developers Minerva and Northacre developed  The Lancasters on a prime site overlooking Hyde Park. This game-changing residential scheme, considered to be the first super prime development in W2, transformed 15 large stucco houses into 77 luxury flats behind an original 400ft long French renaissance style façade.

In 2020, plans were announced to revamp the run-down former Whiteleys shopping center in Bayswater into a new multi-million pound residential, retail, dining, and hotel complex. One of London’s first luxury department stores. the 109-year-old Grade II listed mall suffered after the opening of the nearby Westfield London mall in 2008. Under new plans designed by architects Foster + Partners, it has been transformed into 139 apartments and townhouses, 20 new shops and restaurants, a cinema, an upmarket gym, and a Six Senses hotel and spa - the first one in Britain.

By 2026, the previously run down Queensway shopping street will act as a new gateway to Hyde Park, with The Whiteley at one end, and a new development called Park Modern at the other, offering a pedestrian route from Hyde Park to Notting Hill. Park Modern comprises over 50 apartments offering views of Kensington Gardens and Hyde Park, extended ceilings, valet and concierge services, and a leisure suite with pool, gym, and treatment rooms. Apartments are priced from £2m to £11m.

A further new development of 36 apartments and duplex penthouses is available at No. 18 Porchester Gardens, retailing from £1.625m. Exclusive membership is available to residents, offering access to The Whiteley residents' reception lounge & library, club room, and the Six Senses spa and swimming pool.

Several other sites are currently being considered for redevelopment in the area, making it a very lucrative investment for the long term, with lots of growth potential. This could be a great option for people overseas looking for a second residence in the UK as a potential investment.

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