Mind the gap! How much it costs to live near London’s two new Underground stations – including a £16m Battersea Power Station flat
Two new Underground stations opened this week – Nine Elms and Battersea Power Station.
But while the areas feature lots of new housing for London, people looking to move to there and jump on the Tube’s extended Northern Line will pay a hefty price tag.
The average price of a house in Nine Elms is £726,131, according to Zoopla, but they have got cheaper. This is a drop of more than 6 per cent on a year ago, the equivalent of £50,000.
But that average price doubles to £1,501,091 once you narrow a buyer’s search area from the wider Nine Elms area to just the Nine Elms development site, which is the new housing just south of the River Thames.
And there’s the opportunity to spend much more – among the three homes we found below in the location was a flat in Battersea Power Station for £16million.
A luxury penthouse high up on the eleventh and twelfth floors of Battersea Power Station is for sale for £16million with estate agent Copperstones – see more details below
Two new Underground stations have opened this week: One at Nine Elms and the other at Battersea Power Station
Buyers looking at the Nine Elms development will need a typical budget of £1.5m, according to property website Zoopla
Billions of pounds of investment have been pumped into the area in recent years, including through the redevelopment of Battersea Power Station.
The decommissioned coal-fired power station is now luxury flats and penthouses as well as offices, shops, and restaurants. It also has a cinema and a chimney lift. There has also been the building of a new US Embassy in Nine Elms.
Despite the recent falls in average house prices near the stations, property experts suggest that values will rise, at least in the surrounding areas.
Billions of pounds of investment have been pumped into the Nine Elms area in recent years, including through the redevelopment of Battersea Power Station
Buying agent Henry Pryor said: ‘While some might expect the new stations to be full of people fleeing the Nightmare on Nine Elms Street, these new infrastructure nodes are really going to give the area a genuine lift.
‘Lower Chelsea and the area around Battersea Park may well see prices bumped up by as much as 10 per cent, even if many buyers in SW11 thought that they were high enough.’
We take a look at three properties for sale at Battersea Power Station and Nine Elms
1. Two-bed flat, Battersea Power Station, £1.15m
This luxury flat is close to the Battersea Power Station Underground station, which opened this week in London
The modern property is on the market for £1.15million and is being sold via estate agents Martin & Co
Inside, there is an open-plan living area with a fully-fitted kitchen, while outside there is a covered and tiled private balcony
There are two bedrooms, including the main one boasting an en-suite shower room and room for a baby’s cot
There is also a smaller balcony at the rear of the flat that overlooks the railway tracks that carries commuters in and out of central London
This luxury two-bedroom flat is in the redeveloped Battersea Power Station and has an asking price of £1.15m.
It has an open-plan living area with a fully-fitted kitchen and a large private balcony.
Residents have access to a library, private cinema, communal gardens, a gym, swimming pool and a concierge service. The flat is being sold via estate agents Martin & Co.
2. Six-bed penthouse, Battersea Power Station, £16m
The modern interiors include designer crittall-style doors and walls, which are made from many panes of glass
The property has six bedrooms, seven bathrooms – including this one with a cooper bath -, a roof terrace and two parking spaces
The penthouse boasts far-reaching views from the private balcony across the River Thames and towards the city
The London penthouse has a hefty price tag and is being sold via estate agents Copperstones for £16million
This luxury penthouse is on the eleventh and twelfth floors of Battersea Power Station, with views across the River Thames and the capital.
It has six bedrooms, seven bathrooms, a roof terrace and two parking spaces.
You’ll need deep pockets to buy it due to its £16million price tag. It is being sold by estate agents Copperstones.
3. Three-bedroom flat, Nine Elms, £3.95m
The three-bedroom flat is in the Ambassador Building in Nine Elms and has a light interior with walnut parquet flooring
The luxury home has floor to ceiling windows and is being sold via estate agents Johns & Co with an asking price of £3.95m
The famous Sky Pool floats 10 storeys up between two skyscrapers at the Embassy Gardens development in London
It is three bedrooms, walnut parquet flooring, marble work surfaces and floor to ceiling windows.
It has an asking price of £3.95m and is being sold via estate agents Johns & Co.