How continued investment in Paddington Station’s transport links has affected property prices in the area.
Proximity to good transport links is a key factor in determining the desirability of an area in the eyes of property buyers and investors, as well as tenants. Paddington Station is one of the most important transport hubs in London, and its importance is about to increase even more.
Superb transport links
Not only has the area benefited from regeneration in recent years, but the introduction of the Elizabeth Line (Crossrail), due to be completed by 2018, has seen property prices rise by 52% (Zoopla) since construction work began in 2009. Since 2009, the percentage price change amounts to 60.84% in Paddington. The biggest price rises have been in central London hotspots, so investment in both residential and commercial property within the area will prove a sound investment.
The Elizabeth Line will make it faster to travel to the West End, Docklands and the City, while travel times to Liverpool Street Station and Tottenham Court Road will be halved. There are also plans for a £65million redevelopment of Paddington’s Bakerloo Line and station, which will transform Brunel’s original station terminus.
In addition, Heathrow Airport is only a 15-minute journey via Heathrow Express, while Paddington’s Zone 1 location and links to multiple Underground lines further adds to its appeal. Paddington Station is well connected by public transport to the rest of London, so travelling anywhere in the city will be easy if Paddington is your starting point.
Investment appeal
Despite the price rises, Paddington remains a more affordable location in which to buy when compared with the nearby areas of Knightsbridge and Kensington. There is also a wide variety of housing stock available, from elegant stucco terraces to glass-fronted, purpose-built apartments, and the Paddington Basin developments.
Paddington is fast becoming a major business district, which makes it a great location for young professionals who are looking to rent or buy in a Zone 1 location. The Crossrail project, when complete, will reduce travel times and improve connectivity around London’s central areas and further afield. Accessibility at Paddington will improve, boosted by the new Crossrail station which will be on the west side of Paddington Station, and this in turn will boost the local residential market. Previously Paddington has struggled to keep apace with its neighbours, but that is all set to change.
Continued regeneration, especially around Merchant Square, is helping to draw buyers, buy-to-let investors and young professionals in search of somewhere to rent in a central location like Paddington. With interesting shops and restaurants (and Hyde Park) on your doorstep, the ongoing investments in transport infrastructure is turning Paddington into a very appealing prospect for buyers, renters and landlords alike.
The property price rises will benefit those who already own property along the Elizabeth Line, as well as around the Paddington area.
Are you looking for property to rent in Paddington? If you are planning to move to be closer to Paddington Station and the Elizabeth Line, or if you are keen to buy, let or sell property in the area, then the team at Plaza Estates can assist you.
As a prime travel destination, Paddington has a lot of property investment potential, so contact us today to find out more.
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Maurice Shasha
The Property Industry has always and continues to interest me, and after joining Plaza Estates in 2008 I have experienced a market which has taught me alot. In my role advising clients on their purchases (together with our sales teams), managing the refurbishments for them (together with our management and design team), preparing the property for rentals (together with our rentals teams) or sales and being responsible for the Companies digital marketing I have seen the market from various aspects. The market is always changing and it is essential we constantly adapt, which since Plaza Estates was established in 1972 is something the company has always done. We pride ourselves in the personal relationship and service we have and give all our clients and being part of a company which is "big enough to cope and small enough to care" is something I really enjoy.
If you want 5-star reviews and want to remove negative reviews from Google, contact me via my profile; my contact details are listed there.
SM
Dear Eitan
In this whole sorry saga, with headbutting, unproactive lawyers, and a comatose estate agent etc etc, you have been a beacon of light throughout. Efficient, professional and responsive. This would never have got done without you.
Thank you.
All the best.
Maurice Shasha
We have been using Plaza Estates for many years for all our property requirements (sales, letting and management) and are delighted with the results and service they constantly deliver and provide!
KS
I generally dealt with the Marble Arch branch most of the time, but I can also say that the Knightsbridge office was also exceptionally helpful and professional on the occasions I did deal with them. Plaza Estates in general are excellent.
YZ
Have interacted with Plaza Estates across a couple of sites and always been impressed. Maurice must be the hardest working, most dedicated, helpful and knowledgeable account manager for any company anywhere! A real asset to the team!
LI
I have been a client of Plaza Estates for over 30 years and received excellent service. Both Rodney on the rental side and Fiona in the property management area have been have been attentive and helpful and always willing to go the extra mile on the few occasions when there were problems.
SA
Hope both of you are doing well. I wanted to thank you for always being there for us and for addressing our concerns promptly; safe to say you have been the best agents I have had the pleasure of interacting with.
KR
We have owned our Flat since 2008, which we purchased through Plaza. Our relationship with Plaza goes back to 1982 when we purchased a nearby flat and Plaza have handled all our lettings since then. I would have no hesitation in recommending Plaza - they will find you a good tenant and ensure your ...
MS
Thank you again for all your advice and calm attitude and charm. Nobody could try harder than you, and for which, we really thank you and appreciate it all, not just now, but over the years.
Thanks again for everything!
