Hammersmith: West London's fast-expanding media and tech hub
An ambitious £8 billion masterplan is making West London's best-connected district even more appealing to start-ups, global businesses and property investors.
London has always been on the radar of overseas property investors, but with ongoing regeneration projects transforming areas across the UK capital, it can be hard to keep up with the changing fortunes of its boroughs. One up-and-coming location that's certain to receive wide attention over the next decade is Hammersmith in West London, currently benefiting from £8 billion of investment to enhance its already significant assets.
Close to some of London's most fashionable districts such as Chiswick, Fulham and Kensington – but without the expensive property prices – Hammersmith's enviable location and excellent transport links have long made it a pillar of the West London economy. Already a media and technology hub, last year saw the launch of a new 10-year partnership between Hammersmith & Fulham Council and Imperial College London that aims to establish the area as a global center for bio-tech, digital and creative industry.
The local economy is already benefiting from this investment. Office occupier demand grew by 28 percent in 2018 compared to the previous year, largely driven by the service sector. Hammersmith's population is set to grow by seven percent by 2028, putting pressure on housing and pushing up prices. With more than three quarters of this population being young professionals, and more than a third privately renting according to CACI figures, the Hammersmith residential market offers prime opportunities for landlords.
Thriving riverside district
Hammersmith's regeneration is proceeding at pace. Of the total 315,000 square feet of office space currently under construction, over 80 percent is expected to complete in 2019. As well as housing the London headquarters of a number of blue-chip firms, including Cathay Pacific, L'Oréal, Sony, Virgin and Walt Disney, it also has one of the highest concentrations of startups in the city. Convenient access to Heathrow Airport just 20 minutes away makes it the ideal location for global business.
Investment is also boosting Hammersmith's academic credentials, attracting international students and families with world-class education institutions. The borough is home to two of London's most prestigious private schools – the Godolphin & Latymer for girls and St. Paul's for boys – alongside primary and secondary schools rated 'outstanding' by Ofsted. The Kensington campus of Imperial College London is close by, ranked eighth in the world by the QS World University Rankings 2019, while the former BBC Television Centre in nearby White City is being redeveloped into a tech and academic hub to foster creative industry.
Living in Hammersmith puts the best of London within easy reach, thanks to its superb transport and road links. The local area also has plenty to offer itself, from relaxing riverside strolls along the Thames to cultural nights out at esteemed art venues such as the Lyric Theatre and the Apollo. Hammersmith's high street boast an eclectic mix of brands and independent boutiques, cafes, bars and restaurants, and it's just two stops on the Tube to Westfield, the largest shopping and entertainment complex in Europe.
Urban living with connections
Demand for Hammersmith property is already high, and set to accelerate as regeneration and population growth continue. The borough council has announced 10,000 new homes over the next 10 years under its Local Plan to help meet this demand, while private developers are launching luxury apartments targeted at high-end residents and investors.
One such property is Sovereign Court, a collection of apartments, penthouses and villas by London developer St George that's just a short walk from two Underground stations and five minutes from the commercial district. Designed by award-winning architects Lifschutz Davidson Sandilands with landscaped courtyard gardens by Randle Siddeley, the four buildings that comprise Sovereign Court offer a choice of contemporary finishes with private balconies or terraces in all residences and exclusive amenities including a private gym and 24-hour concierge.
Scheduled to complete from the second quarter of 2021, a number of one, two and three-bedroom apartments have already been made available for overseas property investors. For more information about Sovereign Court and other residential properties in London, click here or contact JLL International Properties at +852 3759 0909 or [email protected].