Barking Riverside is on track: London Overground extension due next year with 10,000 new homes planned by 2025


East London’s biggest development, with plans for more than 10,000 new homes, shops, restaurants, schools and leisure facilities is taking shape on a 443-acre site that was once home to a huge power station.

Work started on the £3.5 billion project in 2008 and will finish around 2025.

When complete there will be seven new on-site schools and a population of up to 30,000.

Why Barking Riverside is tipped as a location to watch in 2020

Transport for London is on track to complete a two-mile London Overground extension in 2021, giving Barking Riverside a train link to Barking and beyond.

Journeys to central London will take just over 20 minutes. Transport improvements have a strong record of increasing property prices — just look at Crossrail.

The pros: the site has a mile of tidal Thames frontage, with big skies, mudflats and a nature reserve.

Negotiations to add the area to the Thames Clipper river bus service are ongoing, as are plans for a safe, segregated cycleway between Barking Riverside and Ilford.

The cons: an entirely new neighbourhood can feel soulless and the nearest neighbour, Barking, is very run down, though regeneration plans are afoot.

Early residents who moved to Barking Riverside in 2012 complained of feeling very isolated. A growing population and new station will help.

The Barking Riverside site has a mile of tidal Thames frontage, with big skies, mudflats and a nature reserve

Average house prices in Barking Riverside ​— and what there is to buy

The starting point is just under £60,000 for 25 per cent of a one-bedroom shared-ownership flat.

Full ownership of a one-bedroom flat starts at £262,500. London Help to Buy is available (barkingriverside.london). 

 



Source link

Share on FacebookTweet about this on TwitterEmail this to someoneShare on LinkedInShare on Google+Pin on Pinterest