There are exciting plans for the property market in Victoria. This much maligned, former business-only, suit-and-tie part of London, has been enjoying something of a makeover.
City development plans are creating well-balanced central London districts with a good mix of shops, businesses and homes, and new inner-city villages are emerging in Victoria.
Part of London's inner city and the administrative base for Westminster City Council, the area is surrounded by Bressenden Place, Buckingham Palace Road, Eccleston Street, Grosvenor Gardens and Wilton Road.
Although the district is predominantly made up of offices, shops and social housing, there are many more opportunities to buy or rent private residential homes in the area.
Although terraced properties, mews houses and semi-detached homes are available, Victoria estate agents will advise, that the main market in this area is for flats and apartments. Redevelopments, such as that of the former Royal Mail sorting office, have increased the residential space available in the district and have helped to make this a more attractive area to live. You'll certainly get more for your money when buying a property in Victoria than you would in nearby Pimlico and Belgravia, and are just as close to all the action.
In 2002, Land Securities devised a masterplan for Victoria Street - a £2.2 billion project to rid the highstreet of grey-slab office blocks and bring in homes, soft landscaping, open courtyards, squares and passageways. Up to 800 new homes on long leases will be built by the time the regeneration is complete in 2019.
Nova, a complex of 205 apartments will be built between Victoria station and Buckingham Palace, close to the Royal Parks. With glass-clad Cardinal Place, the first phase, established as a new shopping destination, Land Securities has switched its focus to a cluster of buildings forming a 5.5-acre island site amid the Victoria traffic swirl.
Victoria Buyers and Residents
Property in Victoria is popular with younger buyers taking their first steps on the property ladder, but, with ambitious development plans taking shape, Victoria is ideally placed for those looking to make an investment, with huge potential for prices to rise as the area grows in popularity.
Top 5 Reasons to Live in Victoria
- With massive investment in the area Victoria is fast becoming a trendy place to live
- Victoria properties come with an affordable price tag
- You are close to some of London's top attractions and entertainment venues
- You are ideally located for the tube and Victoria Station
- There is plenty of green space nearby to escape the hustle and bustle of city living