CROSSRAIL & THE GROWTH OF RIVERSIDE LUXURY IN WOOLWICH
Adrian Burch of Franklyn James, the estate agency specialising in east and south east London, on the growth of luxury riverside living in Woolwich and the effect of Crossrail
Huge changes are taking place in the Woolwich area, primarily at Royal Arsenal Riverside, one of south east London’s most exciting riverside addresses. The development occupies a prime position along the Thames and will benefit from the on-site Crossrail station, due to open in 2018.
The DLR extension opened in 2009, starting in Zone 4 at Woolwich Arsenal and creating a superb new link to the City. It’s just two stops to London City Airport and then passengers are whisked onwards to Stratford or to Bank and Tower Gateway in Zone 1.
Council funding and major private sector investment in Woolwich town centre is creating over 46,000 square metres of retail floor space, 1,500 new homes and over 1,000 new jobs over the next five years
New shops have moved into Woolwich town centre and up to 1,000 new homes are being built at Royal Arsenal, with residents being consulted on proposals to redevelop 1,000 council homes. The council has formed a partnership to bring in further funding and coordinate the regeneration of the area and this, combined with major private sector investment in Woolwich town centre, is creating over 46,000 square metres of retail floor space, 1,500 new homes and over 1,000 new jobs over the next five years.
Undoubtedly the flagship development for Woolwich, Royal Arsenal Riverside is a key waterfront development on a formerly derelict site. Appealing features such as the local Thames Clipper service and the fantastic range of on-site amenities, including some clever conversions of historic listed buildings into pubs, a hotel and the Firepower Royal Artillery Museum, combine with over a kilometre of peaceful river walks.
Woolwich has had its fair share of well-known inhabitants; former England footballer Ian Wright, singer Kate Bush and Squeeze singer and guitarist Glenn Tilbrook were all born in the area. Recently, Matt Damon was spotted filming scenes for Jason Bourne, due for release in July.
An important river crossing point – it is home to the Woolwich Ferry and a foot tunnel – Woolwich was part of Kent until 1889, when it became part of the London metropolitan area. In 1965, most of the Metropolitan Borough of Woolwich became part of the Borough of Greenwich and throughout the 18th, 19th and most of the 20th century, Woolwich was an important military and industrial town.
New homes in the area are understandably in very strong demand. A two-bedroom, two-bathroom second-floor apartment in Warehouse Court (below) with a five-star hotel feel is currently on the market with Franklyn James for £475,000.