[vc_row][vc_column][vc_column_text]A LOT has been happening in East London. Previously eclipsed by the glamour of the West End, the East End has become the centre for the hip, happening, creative and innovative. East London is home to up-and-coming areas like Poplar and Aberfeldy Village.
More are choosing to reside in the East because of its relative affordability compared to the West, the gentrification that’s sweeping through and the creation of more jobs through developmental initiatives like Canary Wharf, East Bank, Stratford and the Asian Business Park. Some of the world’s largest tech companies like Google’s Innovation Hub and Amazon have also made their home in the East.
If you’ve been wandering around London recently, here’s one thing you would’ve probably noticed: the city is moving eastwards. Thanks, in part, to the London Olympics, the population is booming in east London with growth projections of a further 600,000 in the next 15 years. Today, more Londoners live to the east of the Tower Bridge than west of the city as a wave of regeneration sweeps the area.
Amazingly, east London – which encompasses Canary Wharf (London’s financial centre today) and the London Docklands – was once considered undesirable! It is now one of the city’s most eclectic spots, populated by finance sector workers; the design, digital and creative communities; and families. Transport for London has unveiled proposals for 13 new river crossings, most of which is in East London, beefing up the existing transport network which includes Crossrail links and the DLR.
A snapshot of numbers and plans in East London, courtesy of the London Mayor’s office.
According to Jones Lang Lasalle, property prices in East London for the year to Q1 2016 has shown a 7% growth compared to the city centre’s 1.3%. The chart below illustrates the price growth in various areas of London city.
During a recent trip, we explored East London by car, DLR/Tube and on foot. Signs of regenerative work are visible, particularly on the DLR and Tube rides from the heart of the city to the Excel International Convention Centre at the Royal Victoria Dock (travel time: 40 mins). A drive in the opposite direction on our return journey took about 40 mins in clear traffic – very similar to the time taken to drive/ride the LRT from Kelana Jaya to KLCC.
Canning Town: Signs of regeneration in East London are visible from the DLR.
Shadwell is also a place to watch. Walking from Limehouse Marina to Tower Bridge, we noticed this industrial area has seen an injection of residential developments along the main thoroughfare.
Telford Homes’ The Junction is currently under construction along the main thoroughfare of Shadwell.
London’s Docklands area, which includes the Limehouse Basin, Royal Victoria Dock, The Royal Albert Dock and Silverton Quays are transforming, too. The Royal Docks is set to be East London’s next first-time buyer hotspot with plans for 24,000 homes and 60,000 jobs to be created in the area. The Royal Albert Dock, particularly, will become London’s centre for Asian business thanks to the development of the Asian Business Port, creating 20,000 jobs, and generating £6bn to the London economy.
Construction of residences are still ongoing around the Royal Victoria Dock neighbourhood.
We spent some time at the Royal Victoria Dock, one of London’s fast-growing areas (Zone 3), which looks extremely promising.
The waterfront at Royal Victoria Dock is a fabulous place for the neighbouring community with wide pedestrian walks and spaces, beautiful apartments and greens.
The first of the royal docks, the Royal Victoria Dock has undergone massive regeneration and is extremely accessible by the Emirates Air Line (cable car), DLR, Underground and forthcoming Crossrail.
The Emirates Air Line is an attractive feature at the Royal Victoria Dock.
Residents living within the area enjoy access to the Thames waterfront and great quality of life minutes from the city centre, Canary Wharf, the O2 Arena, the forthcoming Asian Business Park and London Airport.
The O2 and cable cars can be seen from the Royal Victoria Dock waterfront.
The surrounding areas of Custom Excel is well established, with several hotels and waterfront residential apartments co-existing peacefully with the convention centre and commercial developments.
The DLR stops right in front of Excel London Convention Centre. Hop on and you’re in the heart of London in about 40 minutes – just about the time it takes to ride the LRT from Kelana Jaya to KLCC!
The forthcoming Crossrail will be a major game changer. Aside from increasing property values along the route, the Crossrail, which will also run through Canary Wharf and East London, will improve connectivity within the city. Travel time will be more efficient as the Crossrail connects Reading to Shenfield while Crossrail 2 runs from Broxbourne to Epsom.
The area is indeed looking up. With improved transport links and gentrification arising from infrastructural investments worth billions, East London is a place to watch.
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