VALUATION

Investment Hotspot: Nine Elms

   Is now the time to purchase a buy-to-let in Nine Elms?

‘The Americans are coming’ has been the cry for some time but December 2017 bought the unveiling of the new US Embassy in Nine Elms and a tangible building for everyone to get excited about. The rather ornate building is set to put the area on the map, with architecture critic Rowan Moore, writing for The Guardian, claiming there was “something both brave and inspired about relocating to this unlikely area, which could then be transformed by the embassy’s arrival.”

Nine Elms nestles between Vauxhall and Battersea, and sits within a corridor classed as an ‘Opportunity Area’, complete with a £15 billion regeneration project. The result will be a new diplomatic quarter – less stuffy than Mayfair and neighboured by the likes of Apple, who is moving into the adjoining Battersea Power Station. Developers are busy transforming the river front at Nine Elms with luxury skyscrapers and penthouses, which will become some of London’s most expensive real estate. It’s estimated as many as 30 individual developments will come to fruition, with architects Norman Foster, Frank Gehry and Richard Rogers defining the skyline.

Over 1,000 staff alone will work at the new US embassy, with indications of a wider influx of people over the coming years. In fact, the Office for National Statistics has published new research that predicts approximately 13,100 people will move to the Borough of Wandsworth in the near future.

Add in a new Nine Elms Tube station and the foundations have been laid for a rental hotspot, with demand from the corporate relocation market as well as the general domestic sector. For details of Nine Elms properties for sale and projected yields, contact the Aspire lettings team today.