Ealing - From Ashes to 'West London Chic'
Area gets glowing report from the business press
Ealing gets top marks in the latest business and property publication 'London loves business.'
The report describes how buyers, investors, and developers - who once sought out east London are now looking west to get the best deals and Ealing ticks all the boxes.
House prices have gone up 5% in just six months and local estate agent John Martin says some properties are selling for 25% more than they did two years ago.
Crossrail is one of the key reasons for the growing interest in the area - the reports claims '' shrewder investors have already cast their gaze westward and are betting Ealing may soon eclipse more popular neighbourhoods like Chiswick and Shepherds Bush, long seen as bastions of West London yummy mummydom.''
The Dickens Yard development - with 700 apartments, gym and spa and lined with boulevard-like streets, is bringing in a mix of young professionals and foreign buyers.
Prices start from £320,000 for a studio and rise to several million for its penthouses, but Ian Dobie, managing director of St George, the developers behind the scheme, says despite the cost the response has been “fantastic”.
This month, in another apparent vote of confidence for the area, developers British Land paid £143m for Ealing Broadway Shopping Centre.
Charles Maudsley, British Land’s head of retail, said : '' We believe there are significant opportunities to grow and develop the shopping centre as a retail destination, both as we further improve the retail mix and increase the leisure offer and as the area benefits from residential development and the completion of Crossrail.''
With an interesting artist interpretation of how the cinema quarter might look (if it ever gets built) the article gives a very positive spin for Ealing.
The riots of August 2011 may have been Ealing's low point, but the report concludes that ''Ealing is back, and it’s helping steal back West London’s property prowess.''
If you've not already read it have a look here What do you think? Discuss on the forum.
26th February 2013