South-east London is already seeing a surge of interest as homebuyers and renters wake up to its lower prices and good commuter links to the City and Canary Wharf. Now Transport for London (TfL) wants to add an extension to the Bakerloo line, which currently ends at Elephant & Castle, through south-east London to surburban Kent. It is set to be the capital’s next major Tube upgrade.
The extended Bakerloo line will provide a vital new link — a fast and direct connection into the West End. TfL is collaborating with Southwark, Lewisham and Bromley boroughs to co-ordinate regeneration along the line. As with the recent Overground and Crossrail links, this provides an opportunity for homebuyers to invest now before prices rise in this presently Tube-starved area.
IMAGE GALLERY: SEARCH FOR NEW HOMES ALONG THE EXTENDED BAKERLOO LINE
Image gallery: new homes along the extended Bakerloo line
Image gallery: new homes along the extended Bakerloo line
1/9 Riverdale House
Riverdale House is situated near Ravensbourne river and leafy parkland, providing a picturesque setting just moments from Lewisham’s thriving town centre. Call 020 8128 9439
2/9 Riverdale House
There are 137 flats at Riverdale House - a luxury new scheme in Lewisham (scroll right...)
3/9 Catford Green
From £280,000: the former Greyhound stadium is being developed into a 588-home quarter called Catford Green, alongside the proposed Bakerloo line station. Call 020 3296 2222
4/9 Century Gate
From £824,995: Century Gate is a scheme of detached family houses adjacent to the grounds of Kent County Cricket Club, close to the high street (scroll right...)
5/9 Century Gate
From £824,995: homes at Century Gate feature traditional-style architecture and are comfortable and spacious. Call 0844 488 3144.
6/9 Coopers Road
From £599,000: situated just off the Old Kent Road, flats at Coopers Road are modern, light-filled and energy efficient (scroll right...)
7/9 Coopers Road
From £599,000: there are one-to-three bedroom flats, ideal for professionals and young families (scroll right...)
8/9 Coopers Road
From £599,000: South Bermondsey Tube and Bermondsey station are less than a mile away from Coopers Road development. Call 020 3369 8781
9/9 Rivoli Apartments
From £385,000: two-bedroom flats at Rivoli Apartments in Ladywell Village in Zone 3, just a 20-minute commmute to the City. Call 020 8852 4455.
The Bakerloo line extension: from Elephant & Castle to Hayes
Analysis by estate agent Winkworth shows a marked population shift to south-east London. “The first wave was triggered by the arrival of the Overground three years ago, and the Bakerloo line extension will accelerate the trend.”
Areas such as Catford and Sydenham are packed full of good-value Victorian and inter-war terraced houses that can be reconfigured for modern living.
The Bakerloo line extension will run from Elephant & Castle through new tunnels either along Old Kent Road or via Camberwell to New Cross Gate, then on to Lewisham and via Beckenham to Hayes. A spur to Bromley town centre is being considered.
Opportunity Area: Old Kent Road
Boris Johnson recently designated Old Kent Road an opportunity area or priority zone for better public transport, new housing and more businesses, while TfL is investigating locations for two stations.
One of England’s oldest highways, Old Kent Road was created by the Romans and famously used by Chaucer’s pilgrims travelling from Southwark to Canterbury. Today it forms the boundary between Walworth, Peckham and Bermondsey, all up-and-coming zone two districts.
The new opportunity area covers the road itself and the corridor of land either side — a muddle of modest Victorian terraces, council estates, warehouses, light industrial premises and Burgess Park, a 140-acre green tract. A former car showroom has been bulldozed to make way for Park View, occupying a prominent corner site, while three-bedroom flats at a new Peabody development on Coopers Road cost £599,995. Call 020 7021 4842.
At Surrey Canal Triangle, now a raw, largely derelict zone dissected by railway tracks, there are plans for an £850 million project that includes 2,400 new homes and a sporting village.
New Cross Gate: a big Bakerloo line beneficiary
This transport interchange is already plugged into the Overground and also offers five-minute trains to London Bridge, a fast Thameslink service to Gatwick and a one-stop connection to the Jubilee line.
For many years the area’s only two attractions were Goldsmiths College, where Damien Hirst studied fine art, and The Venue, a lively nightclub. But things are changing.
Young singles and couples — not just public sector key workers, but Canary Wharf and City types too — are finding homes. Families are settling here as well.
One sought-after pocket is Telegraph Hill conservation area, perched at the top of a slope and offering wide tree-lined roads, great views, two parks, a community café and Haberdashers’ Aske’s school, one of the most oversubscribed state secondaries in London.
Lewisham is in the throes of a town centre makeover, bringing hundreds of new homes, a modern transport interchange, a new shopping mall and pedestrian-friendly public spaces.
Renaissance, by Barratt, comprises a vibrantly-coloured glass-clad leisure centre and 788 new homes priced from £306,000. Call 0844 811 4334.
Riverdale House, an Eighties office building notable for its modernist architectural style, is being converted into 137 flats and will have a hotel-style entrance foyer and rooftop communal terraces. Prices from £225,000. Call Galliard on 020 3740 9464.
Catford and Lewisham are almost joined at the hip, with barely half a mile between the two town centres. For decades, Catford’s main draw was its Greyhound Stadium, now being redeveloped into a 588-home quarter called Catford Green, right alongside the proposed Bakerloo line station. Prices from £280,000. Call DTZ on 020 3296 2222.
Depending on finance, the line extension could terminate at Beckenham, which remains family territory due to its village-style high street, private schools, playing fields and quick escape routes to the Kent countryside.
Century Gate is a scheme of detached family houses adjacent to the grounds of Kent County Cricket Club, close to the high street. Linden, the developer, has played it safe with traditional-style architecture, but behind the gated entrance there is a sense of place, while the homes are comfortable and spacious. Prices from £824,995 to £1,195,000. Call 0844 488 3144. Elmers End and West Wickham are Bromley borough suburbs surrounded by lots of green space and have Thirties semis plus detached houses in big plots.
Currently, six trains an hour use the Hayes overland line to London Bridge whereas an extended Bakerloo line to Hayes could mean up to 15 trains an hour into central London, says TfL.
'Bakerloo was on our radar when we bought our house'
Developers are launching new schemes, estate agents are tipping hot spot neighbourhoods, while people who want to buy long-term are factoring the extension into their buying decisions.
Legal secretary Amy Perry, 34, says: “The Bakerloo line was on our radar when we bought a small house 18 months ago for what now seems a very good price. Since then, we have built an extension and transformed the garden because we think the area is such a good investment for the medium to long term.”
Her commute to the City takes 20 minutes from Ladywell, which has recently acquired village status following streetscaping improvements and the opening of a deli and other independent shops. Amy’s husband Ben works for a university in Bloomsbury and the couple have a two-year-old son, Jacob.
Their Thirties house is a five-minute walk from the train station and backs on to Ladywell Fields, a 54-acre refurbished park with tennis courts, a bowling green, skate park, café and through which the Ravensbourne River flows.
Rivoli Apartments, an Art Deco-style scheme of flats at Ladywell Bridge is a tell-tale sign of the way the area is heading. Two-bedroom flats cost from £385,000. Call Acorn New Homes on 020 8852 4455.