SE18, WOOLWICH
£461 PER SQ FT
JUST south of the river, Woolwich occupies a swathe of Thames-side London that’s enjoying something of a renaissance.
Five miles down the Thames from Canary Wharf, Woolwich is a postcode of two halves. The multibillion-pound regeneration of Woolwich Arsenal, Royal Arsenal Riverside by Berkeley Homes, is at one end of the scale, featuring 5,000 new homes plus waterfront bars and restaurants. At the other end are some downright shabby streets.
Whichever option fits your budget, your local transport links are about to get better. Crossrail is due to arrive at Woolwich next summer. In the meantime, British Land is planning a five-acre mixed development that should smarten up Woolwich’s high street, while Greenwich council is investing in a waterfront arts centre.
The poshest part of SE18 is towards Shooters Hill, where grand Victorian villas approach the £1 million price tag, but about £500,000 will buy a three-bedroom period terrace house.
“In the Royal Arsenal you would pay more than that for a three-bedroom flat,” says Paul Olubunmi, director of PK Sales and Lettings.
Many buyers want to live close to the station and Olubunmi recommends Burrage Road, Burrage
Place or Crescent Road. Another good option is to look to the south of the postcode, close to the wilds of Woolwich Common.
Woolwich is rich with historic buildings mostly linked to its naval history, and these make for beautiful period conversions, although buyers will pay a big premium for this kind of kerb appeal, with two-bedroom flats frequently listed for between £600,000 and £800,000. If you care more about bang for your buck, then a two-bedroom purpose-built flat would cost around £350,000.
Housebuilding is going on all over SE18, and there are still a few homes left at Battalion Court, which overlooks Mulgrave Pond (bellway.co. uk). The pond dates from the 1750s and was originally dug as a reservoir for the royal dockyards. The site is half-a-mile from Woolwich town centre and Woolwich Arsenal station. Prices start from £338,000 for a one-bedroom flat.
For first-time buyers, Home Group (www.homegroup.org.uk) has shared-ownership apartments for sale priced from £92,500 at Insignia
Place, some with balconies giving views of the Thames and close to Barrack Field, just one of the area’s great open spaces.