Shoreditch is the centre of east London’s buzzing creative scene. Artists, designers and other young talented types have been heading to the area for years, attracted by converted lofts and spacious warehouses.
© Graham Hussey
There are live/work studios housing a colourful mix of fashion labels, art galleries and workshops, not to mention the coolest bars and pop-up restaurants, while Hoxton Square (right) has become as buzzy by night as it is during the working day.
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Shoreditch homes enjoy a historic setting - Georgian cottages and Victorian houses sit alongside industrial-chic apartments, new-build flats and pieds-á-terre. With the City in walking distance and easy access to Canary Wharf, Shoreditch is now one of the capital’s hottest residential hotspots.
Tarik Shurdom of estate agent Winkworth has watched the gradual transformation of the area over 12 years, with the arrival of large companies setting up head offices and media firms moving in. He says: "Shoreditch itself has gone from being a deserted former part of the City but is now being dragged back in to the centre. Until a few years ago, this was the exclusive domain of the young and trendy, but that all changed with big players like Conran opening up a restaurant and hotel here. It now feels as though Shoreditch is heading towards a cross between Covent Garden and Soho."
What properties are typical to the area?
Shoreditch has a mix of warehouse conversions, new-build apartments, commercial conversions, Georgian cottages and Victorian houses.
Who is buying here?
There is demand here now from City types, lawyers and doctors willing to pay big prices for top-end, large properties. Property values in some parts of Shoreditch are creeping up towards £1,000 sq ft, which is comparable to Covent Garden prices. Young trust fund kids are looking to buy here. City workers who would have lived in Clerkenwell a couple of years ago are now searching for character buildings in Shoreditch.
What are the 'hottest' properties in the area?
The western side of Spitalfields, from Bishopsgate to Brick Lane and Redchurch Street is extremely popular. The "Shoreditch triangle" - the area bordered by Old Street, Shoreditch High Street and Great Eastern Street - is the patch that started it all many years ago and is still in demand.
Investment has moved from the City over the years to Spitalfields Market, Commercial Street, Brick Lane and Aldgate East, which has joined up all of these areas. There are some tall residential blocks being built which will provide a critical mass of well-appointed apartments at the western end of Bethnal Green Road, Whitechapel Road and Commercial Road.
Where are the 'hidden gems'?
Good value properties can still be found on the edges, especially where Spitalfields and Shoreditch meet Whitechapel. There are well-priced ex-council flats also in Hoxton.
The area south of Fieldgate Street has a good mix of properties, from Georgian homes to Art Deco flats and modern buildings, which are comparatively cheaper than central Shoreditch, although demand is growing.
Where are the best investment opportunities?
Buy-to-let investments are not as popular as demand for property in this area is growing, however there are ex-council flats at the southern end of Shoreditch where it meets Whitechapel and towards Aldgate East that would make strong investments. Rental demand for this part of central London is strong.
How is local parking?
Parking is difficult although there isn't a lot of demand for it as this area is so central.
Where would your dream home be in this area?
Hoxton Square, in Redchurch Street or within the Shoreditch triangle.
Tarik Shurdom is the sales manager at Winkworth’s Shoreditch office. Reuse content