London’s reputation for capital preservation and stable returns in the residential property market remains unassailable, despite global uncertainties. As a result, it remains a top choice for property investors seeking steady income and long-term investment and capital growth.
Says Dr Andrew Golding, chief executive of the Pam Golding Property group: “This is underpinned by the fact that London’s population is growing at an exponential rate, surpassing a record nine million people and projected to grow by a further 700 000 people between 2023-2031, with over a third of the city’s 3.7 million households renting accommodation. Coupled with this, London’s appeal to the younger generation continues to grow, with an estimated annual inward migration of 80 000 in coming years, and with increasing house prices amplifying rental demand.
“On the back of this demand for accommodation both to purchase and/or to rent, particularly in prime, central locations in the city, City & Docklands Property Group, which has over the past 25 years set the benchmark for delivering high-quality property investments and developments in key growth areas of London, has brought to market North Kensington Gate, a mixed-use development within a significant regeneration district in West London – the Old Oak and Park Royal development area which will transform into a vibrant 650ha neighbourhood over the next 25 years. Comparable developments in nearby areas have seen substantial appreciation in property values over time, indicating the potential for a similar trend at North Kensington Gate.”
At the helm as CEO of City & Docklands is South African-born Gary Sacks, who has successfully completed 18 developments and the delivery of approximately 4 000 apartments across London. This includes the highly successful Canary Central development at Canary Wharf in the Docklands regeneration project, where Pam Golding International was also involved in marketing residential units to the South African market.
Says Sacks: “With their experience and success with City & Docklands at Canary Wharf and in bringing other top residential developments in London to the South African market, it was a logical decision to appoint Pam Golding International to market the luxury homes in North Kensington Gate to their extensive database of clients.
“North Kensington Gate is to be located within the Old Oak and Park Royal Development Corporation’s new GBP26 billion regeneration masterplan – a vision set to create one of the most futuristic and best-connected residential districts in the UK providing a total of 25 500 homes and 65 000 jobs in the next decade. Due for completion in the summer of 2025, comprising 150 private apartments with unrivalled transport links and world-class amenities in the heart of West London, and close to renowned Imperial College and Westfield Shopping Centre – Europe’s largest shopping centre, North Kensington Gate is within the capital’s most exciting regeneration hotspot.”
The area will also be home to a GBP3 billion new campus for Imperial College London, which is regularly ranked amongst the top 10 best universities in the world and is The Times and Sunday Times Good University Guide 2024’s University of the Year for graduate employment.
Says Chris Immelman, who heads up Pam Golding International: “Marketed at prices starting from GBP430 000 ranging to GBP875 000, this new development will be served by the most technologically advanced rail network and transport hub in the UK. Less than a nine-minute walk from North Kensington Gate, once open in 2029, Old Oak Common will be the only high-speed rail interchange in the UK and the only hub where the HS2, the Elizabeth Line, Great Western Mainline and Overground services connect, with the new interchange accommodating around 250 000 passengers daily – comparable only to London Waterloo.
“With the station on its doorstep, this will make North Kensington Gate a highly sought-after location which will enhance the uptick in capital growth venues, as commuters will be able to reach Paddington Station in just 10 minutes and Bond Street within 13 minutes on the Elizabeth Line, and Willesden Junction in 10 minutes. High-speed rail services will link to central London and Heathrow, the Midlands, Scotland and the North, as well as Wales and the South West.”
Adds Immelman: “Worldwide, developments in regeneration areas have long been regarded as the sweet spot for investors, with early adopters enjoying above average capital growth, together with strong income potential.
“From a pure investment perspective, North Kensington Gate is a compelling offering with its prime location, transportation connectivity, rental income potential, developer expertise and potential for growth in property values. Arranged across two integrated blocks of seven and 24 storeys respectively, the 150 luxury units comprise spacious studios, one, two and three-bedroom apartments, ranging in size from 40sqm to 125sqm, all with underfloor heating and a balcony or terrace. Residents will have access to a landscaped roof terrace and co-workspace and benefit from a gym, café and restaurant across the road at Mitre Yard.”
City & Docklands are offering investors two purchasing options: 6% guaranteed rental return for cash buyers over a period of five years, or 6% guaranteed rental return spanning two years for purchasers obtaining a mortgage. North Kensington Gate will be fully managed with a 24-hour concierge and onsite building managers. Furniture packages are also available for a stress-free and cost-effective set-up of units.
Forecasts show that Old Oak & Park Royal will see almost a 30% increase in house prices in the five years to the end of 2028, while rents in London have already skyrocketed due to various factors on the supply and demand side.
The marketing of apartments in North Kensington Gate is being driven by Brian Gradner, project sales and marketing manager; and award-winning property veteran, Kim Faclier, as senior sales executive, London – both of Pam Golding International.
For further information email london@pamgolding.co.za.
