Buyers seeking their next investment opportunity in the capital should turn their attention to Bermondsey, according to new research unveiled today by sales agent JLL.
Bermondsey Heights, a brand-new development by Barratt London in SE15, south of the River Thames, is in the heart of Bermondsey’s dynamic regeneration. The first homes are due to complete in summer 2025.
According to sales agent JLL, the price per square foot at Bermondsey Heights is 21% lower than the Zone 2 average of £1,061– with 77% of schemes currently on the market in Zone 2 priced higher than the new development.[2] Bermondsey’s house prices remain resilient – yet crucially, homes in Bermondsey are currently at a 21% discount compared to Greater London.
Yolanda Jacob, Sales & Marketing Director at Barratt East London comments: “Bermondsey’s regeneration story is one that has already begun – and further projected investment into the district only bolsters its future success. Bermondsey’s micro-market tells a further positive story, with strong buyer demand thanks to all the advantages of Zone 2 living at an attractive Zone 3 price tag.
“Homes in regeneration areas typically increase in value faster than other parts of the city, and buying off-plan offers the chance for buyers to lock in today’s competitive prices while still having time to save for other expenses such as furniture or moving costs; this is particularly beneficial for first time buyers. Bermondsey is one-of-a-kind, and buyers purchasing a new home at Bermondsey Heights today will likely reap the rewards from move in day.”
The main tower at Bermondsey Heights, comprising 26 storeys of high-quality residential accommodation with commercial units beneath, will house 163 private one, two and three-bedroom and 32 discounted apartments available to local residents through First Homes. The development will feature a residents’ lounge, concierge, Pantree service, landscaped courtyard gardens, a roof terrace and children’s play area. Boasting panoramic views over the London cityscape, the apartments are expected to be completed in summer 2025.
New homes at Bermondsey Heights will benefit from energy saving and sustainability measures, such as efficient kitchen appliances and water taps, low energy lighting, highly insulated building fabric, a carbon efficient centralised heating system, green and blue roofs, solar panels, and air source heat pumps, which provide 70% of the development’s energy.
Bermondsey is ideally located in the Borough of Southwark within easy reach of some of the capital’s top destinations, including Tower Bridge, The Shard, Borough Market and Bermondsey Street. Also nearby is Peckham, with its art, music, and foodie scene, and thriving mix of independent shops, cafés, and restaurants.
The area is already well connected, with numerous bus services nearby, and South Bermondsey railway station only a 10-minute walk away. There are ambitious regeneration plans for the wider area. These include the proposed Surrey Canal station which secured additional funding earlier this year, plans for 3,500 homes, 13 new public spaces, a thriving business district with office space, workshops, cafés and restaurants, a creative and digital hub and local retail, as well as a state-of-the-art sports complex and arena.
Prices at Bermondsey Heights start from £455,000 for a one-bedroom apartment.