Wake up, smell the profit

London Evening Standard (West End Final B) - ES Homes and Property - - London Café Culture -

which sit at the bot­tom of the league table. The chart also re­veals the ar­eas with the largest pro­por­tion of in­de­pen­dent shops over­all. The re­sults might just be the key to bag­ging a prop­erty with profit po­ten­tial.

“Peo­ple ac­tively don’t want a bor­ing chain store high street,” says buy­ing agent Rachel Thomp­son, di­rec­tor of Stir­ling Pri­vate Of­fice. “When they can see good-qual­ity cafés and shops mov­ing in, it gives a vote of con­fi­dence to a whole area. It also says some­thing about the de­mo­graphic of an area and most peo­ple want to live close to like­minded peo­ple.” Grif­fiths, man­ager of Hunters es­tate agents, has no­ticed the change in Sy­den­ham Road where bars and delis are slowly re­plac­ing take­aways and pound shops.

“There are def­i­nitely more cof­fee shops be­cause dif­fer­ent peo­ple are mov­ing in: younger and pos­si­bly more af­flu­ent. Sy­den­ham is one of the cheaper places to buy in Lon­don. It is a bit un­tapped but easy for the city.”

A two-bed­room Vic­to­rian con­ver­sion in Sy­den­ham would cost about £475,000, while a three-bed­room ter­race house would be £600,000-plus.

LOOK­ING NORTH AND EAST

Cof­fee shop hotspots: clock­wise from left, Brock­well Park near Herne Hill; Brix­ton, and King’s Cross

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