Just across the river from Canary Wharf sits Surrey Quays – unassuming and often unnoticed.
And that is what makes it, for anyone looking to travel to Canary Wharf, a decent place to buy or rent. The estate is less than five minutes on the Jubilee line from Canada Water with equally easy access to the City via London Bridge.
Alex Neil director David Hatch said making a purchase in the area made financial sense.
He said: “We get a lot of young professionals looking to move to this area because it’s regarded as cheaper than Canary Wharf, which is very expensive.
“Surrey Quays was built up in the 1980s when land wasn’t as expensive, so you get a lot more space for your money than you might in a lot of other parts of London.
“If I were to buy here I would go for one of the older developments down at Dunage Crescent, as these are cheaper, but with room for improvement.
“The new developments that are popping up in the area are good buys as well though – like Maple Quays.
“But then if you go down to Rotherhithe Street you get the old pubs and more historic buildings, which look very nice.”
David said that while you didn’t get many bars or restaurants (there is a Wetherspoon’s, though) there were plenty of open spaces nearby – like Southwark Park
Although David said he couldn’t suggest how much prices may increase in the coming years, he said the nature of the area and the heavy development going on was likely to boost the value of property.
He said: “I would say in an area where there are a lot of developments it has a good potential of prices going up.
“If you are attracting young professionals, it’s likely to make Surrey Quays more attractive and bring in more money.”
But he said capital appreciation wasn’t the only attraction. Here are his five reasons to buy in the area.
1. Easy access
London Overground takes you north and south while the Jubilee line goes east-west. Canary Wharf is only one stop away by Tube and there’s also a ferry service there from Doubletree Docklands hotel.
2. Waterside living
You can be by the Thames within minutes from anywhere in Surrey Quays. There are also plenty of docks and canals.
3. Safety in numbers
There are lots of residential areas around so there are lots of people milling about.
4. Value for money
As Surrey Quays is still fairly unknown in London, prices are lower you might expect despite its excellent location.
5. Local amenities
These are growing as more developments come in, but already include a large Tesco, boutique cafes, gyms and dentists.