In fact, Peckham has long ago shifted the idea it was ‘only for fools’, if you have money to invest it is best to put historical prejudices aside and seriously consider the area of South-East London; with crime and murder no longer defining the area, it has been attracting a new crowd from Shoreditch and East London. With trendy bars and pop-up summertime hangouts and an evolving art scene it is the place to be. The closeness of the art schools in New Cross and Camberwell has attracted a new set that only further encourages the big art scene.
There is a new middle-class vibe to Peckham, with an overflow of buyers from East Dulwich and Clapham, and with spacious parks, excellent schools and cheap property it is attracting more and more families.
What investment is there in the area?
Peckham has already benefited from investment in the late 90’s, with the demolition of many old council estates and a variety of private investment, there is a vast variety of bars, restaurants, galleries, cafés and boutique shops.
The ten-storey Peckham Rye car park is being called upon by a group of young artists to be transformed into an arts centre, with the £10 million pound project estimated to create 500 new jobs.
There are also plans to refurbish the Peckham Rye station and rumours of pedestrianising Rye Lane that is still awash with pound shops.
According to the premier estates GJM Gareth James Property in the area Peckham is the “hottest investment spot in the UK for properties under £1.5 million”.
Where to buy?
Peckham has some fantastic architecture, for instant the Georgian and Victorian houses situated on Bellenden Road, once an area best avoided reach up to and more than £1 million pounds these days. SE15 is an area where there are numerous growth opportunities so it is good for those looking to invest. North Peckham could be a wise investment; Queen’s Road prices are still relatively low but should still see a hike following regeneration of the area. In terms of a buy-to-let portfolio Peckham is invaluable, with the rent yields above the London average.
Peckham has benefited by the East London line extension, on the new over ground service you can reach London Bridge within 7-10 minutes, Victoria within 13 minutes. Direct trains also run to Kings Cross within 23 minutes, as well as Blackfriars, St Pancreas, Farringdon and Elephant and Castle.
Its close proximity to London Bridge also makes Peckham attractive, as it is easy to reach The South Bank, where visits to The Tate Modern, The London Eye and The Globe Theatre always prove popular.