Will more improvements to the Victoria area continue to affect property prices in the area?
Improvements have been underway at Victoria Station for months now, with completion set for sometime in 2018. The station is already under a lot of pressure at peak times and the work being done is part of plans to cope with projected future passenger figures of 100 million per year. That’s a lot of people! The space within the station will be improved and access to trains will be made much easier and the shopping centre will be extended too.
As well as updates to the train station, there are also plans for a refurbishment of Victoria Coach Station. The existing coach station is a an Art Deco listed building, but plans announced by Homes and Property today reveal that there will be a redeveloped area to include shops, restaurants and housing, with the coach station itself moved to an alternative site.
Other improvements in the area have been happening slowly but surely – Cardinal place shopping centre opened in 2004 and many private developers are already working on residential projects. Private investors have already sensed the opportunity and snapped up some o the available property. Prices in the area have already seen increases but still are not yet in the same league as nearby Belgravia.
With the current upward trend in London as a whole the Victoria area is set to go from strength to strength – look out for neighbouring Pimlico feeling the knock-on effects too.
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