So the development focus is switching to the less-glamorous hinterland, a triangular wedge of land between Waterloo, Elephant & Castle and Borough. Part of this neighbourhood’s charm is its unvarnished urban residential mix. Away from the swish river-facing flats are delightful Victorian terraces, charitable and church housing, factory lofts, live-work units for creatives, well-maintained public housing and niche private developments.
Valentine Place is a low-rise scheme of 42 apartments and mews houses tucked away moments from the Old Vic and Young Vic theatres. Set around a tranquil central courtyard garden, the restrained architecture blends brick and warehouse-style windows, and retains the original façade of the former bakery and dairy that occupied the site. Offices are part of the mix. Prices from £730,000.
Developer Crest Nicholson is soon to unveil two other SE1 schemes — Snowsfields Yard and Brandon House. Call 020 3640 7577.