02 May 2024 ·

“Regeneration” – what does it mean and how can I benefit from it?

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Regeneration: “The action or process of renewing or restoring”

Its main purpose is to improve the functionality and quality of life for those who live, work and visit the area.

These kinds of projects will often include different buildings and spaces that serve a variety of functions including bars, restaurants, schools, offices, hotels, parks and of course, housing.

There are many regeneration projects taking place across London and the UK. Below are a few you might have heard of.

Battersea Power Station

£9 billion worth of investment has powered one of the most exciting regeneration projects in London of the last decade.

Spanning 42-acres and split across eight phases, the Battersea Power Station project is replacing a former industrial brownfield site with a new community of homes, shops, bars, restaurants, cafes, a hotel, a medical centre, offices, a Zone 1 underground extension and over 19 acres of public space which includes a six-acre public park.

Once fully complete, 25,000 people will be working and living in this new neighbourhood, cultural hub and business district.

King’s Cross – Coal Drops Yard

Once an area avoided by many due to its high crime rate, King’s Cross now couldn’t have seen a bigger transformation.

In 2007, work began to transform a derelict industrial area into what stands today as a thriving new destination comprising 50 new buildings, 20 new streets, 10 major public spaces and almost 2,000 new purpose build homes. As part of the project, 20 historic buildings and structures have also been restored.

Huge businesses including Google, Facebook and Universal Music have moved into the area and visitors and residents have afforded a host of new restaurants, bars and shops to choose from, all a stone’s throw from King’s Cross and London St Pancras International stations.

Should I move to a regeneration zone?

So, if you’re looking to purchase a property, thinking about buying a home in an area of regeneration could be a smart move. There are many benefits, but here are a few key ones:

  • You get to be a part of a thriving community and at the centre of something new and exciting.
  • The transport links are often excellent in areas of regeneration, so you can be sure you’ll be well connected to work, friends, family and local amenities.
  • You’ll have almost everything you’ll need right on your doorstep. Shops, parks, gyms, restaurants and bars are all typically included in these kinds of areas.
  • Buying in regeneration zones is often a sound investment, so there’s a good chance you’ll see the value of your property grow over time.

Are Fairview building in any regeneration zones?

Yes we are! We have a collection of 78 one-, two- and three-bed apartments coming to the rapidly-growing Royal Docks in June this year.

“The Silverton” is launching in one of London’s most exciting regeneration projects, that’s seeing over £5 billion worth of investment going into the area over the next 20 years – it’s expected to bring 36,000 new homes and 55,000 new jobs to the area.

The Royal Docks is positioned in London’s only Enterprise Zones. These zones are part of the government’s industrial strategy to encourage business growth by providing tax breaks and other business incentives. In 2018, a £314m investment package through this initiative was approved to accelerate the area’s growth.

Much of this regeneration has already taken place, with a huge number of new homes, shops, restaurant, bars, coworking spaces and more, as well as the Elizabeth Line at Custom House. This means existing residents to the area can already enjoy much of this exciting improvement already.

Just across the water, another exciting regeneration project in the borough of Woolwich is well underway, where our Dock28 development is located.

Royal Arsenal is at the heart of this heritage-led regeneration; a 36 hectare site of riverside land that will bring over 5,000 new homes, new parks, squares, leisure and retail facilities and industrial employment space brought to the area.

Elizabeth Line services also arrived to the borough last summer at Woolwich and Abbey Wood stations, further strengthening the area’s transport infrastructure.

Funding has been secured from Historic England and the government’s High Street Fund for additional centre improvements in the future, and a new creative quarter is being developed on the river bank by bringing back a number of historic buildings into use.