New research from JLL shows that New Malden, in south-west London is an area in high demand, with its number of residents predicted to increase by 2.4 per cent between 2021 and 2026. As its popularity increases, average sales prices rose by 8.3% in a year – significantly outperforming Greater London’s 3.6% rise. New Malden has also outperformed London and neighbour areas in the last five, 10 and 20 years. In the rental market, low supply levels mean that there are 44% fewer properties on the market to let now compared to a year ago, with rents increasing by 24.6% year on year.
Located in a leafy part of the capital, these new residents will find themselves close to destination areas like Wimbledon, Kingston Upon Thames and Richmond Park – London’s largest Royal Park, while also being a quick journey out to Surrey or into Central London. Amid this backdrop of suburban living and high demand for homes in New Malden, Barratt London is launching Sterling Place – which will bring 456 new one-, two- and three-bedroom apartments to the area, on the site of a former print works.
Sterling Place is located off Burlington Road, the site of former print works Bradbury Wilkinson & Co. Ltd, a printing company that pioneered polymer banknotes and created postage stamps and currency for numerous countries around the world. Nods to the original site’s history have been incorporated throughout its design. The muted green tones and patterns printed on banknotes in the early 1900s have inspired today’s striking brickwork, landscaping, pitched roofs, crittall style windows, and balcony design. The new apartments will be positioned in seven staggered-height blocks ranging from seven to fourteen storeys. Its first phase will offer panoramic views over south-west London and towards the City. In addition to views, future residents will benefit from open-plan living and landscaped gardens. The first homes will be delivered in Winter 2025, with the site expected to complete in 2027.
As well as providing much needed new homes for the area – the new residential village has been designed with the environment in mind. The addition of podium gardens, play areas and additional tree and shrub planting will bring a 10 per cent biodiversity net gain to the area. Each energy efficient home is predicted an EPC rating of a B or above and there are 240 electric charging points, as well as over 900 cycle storage spaces and solar panels across the site.
New Malden is an area that could benefit from the potential delivery of Crossrail 2. JLL finds that 76 per cent of areas surrounding the planned Elizabeth Line stations outperformed the regional average in term of house prices in the decade leading up to its opening. Crossrail 2 would significantly improve connectivity for the area – there would be up to 30 trains per hour to destinations including Central London, Hertfordshire and Surrey. It could also provide local people with access to significantly more jobs within a 45-minute journey, helping to boost localised economic growth. It could reduce journey times to a central destination like Tottenham Court Road, close to Oxford Street, by approximately 15 – 20 minutes.
Close to the border into Surrey and conveniently located for both town and country, Sterling Place has four bus routes on the doorstep and three railway stations within a 15 minute walk, including Motspur Park and Raynes Park with services to London Waterloo in just 24 minutes. Additionally, the District and Northern lines can be accessed from nearby Wimbledon and South Wimbledon tube stations.
As well as access into the city, there are a number of iconic destinations to be found in south-west London itself. Richmond Park, famous for its deer, is less than four miles away and covers 2,500 hectares, taking in viewpoints, cafés, playgrounds and a Victorian woodland garden, while nearby Wimbledon offers a huge park, common and, of course, the famous annual lawn tennis competition. Vibrant Kingston-Upon-Thames, just three miles away from Sterling Place, is the ideal destination for shoppers, and has bars and restaurants lining the River Thames.
When it comes to education – south-west London is considered one of the most sought-after areas for parents and parents-to-be. Merton is home to over 85 schools and the Borough is in the top 10 in London for Ofsted rated ‘Outstanding’ schools. And, the area’s selective schools are also in high demand with 1,500 students applying every year for the 180 spaces available at the Tiffin School. Sterling Place is within reach of no less than 20 universities, including the prestigious University College London, King’s College London , Kingston University and Imperial.
Joe Antoniazzi, Sales and Marketing Director for Barratt West London said: “We’ve seen that buyers’ habits have changed post-Covid with the need for a good work life balance being more important than ever before. In an area like New Malden, you’re at the gateway to Surrey, where you have that perfect blend of both the countryside on the doorstep and the buzz of the capital less than a 30-minute train journey away. For families, areas with good schooling always generate interest and there are a number to be found in New Malden and its surrounds. For me, the ultimate draw of New Malden is its location. You’re so close to London’s iconic destinations - you have the likes of Richmond Park, Wimbledon Village and Kingston all on the doorstep. Therefore, it’s no wonder this is an area that is growing in value as it ticks so many of the boxes needed for 2023 living.”
Prices for Sterling Place in New Malden will start from £379,500 for a one-bedroom home. To find out more, visit www.barratthomeshk.com or whats app Barratt Homes Hong Kong +852 9727 7731