The East London suburb of Canning Town is benefitting from a revamp which
could see £3.7bn invested into the area.
Analysis by Homes & Property explains that a series of major developments are breathing new life into this part of the East End. It explains that since 2010 a series of major developments have already provided hundreds of new homes but that the ongoing £600m Hallsville Quarter, where 1,100 new homes are being built on a 15 acre site opposite Canning Town station, could be a ‘game changer’. It adds that the upcoming Crossrail network which will stop at Custom House is also making the area more attractive.
Ruth Bloomfield of Homes & Property comments: ‘From slums thrown up for factory workers by Victorian speculators to the disastrous experiments in social housing that followed the Blitz, historic attempts to turn Canning Town into a great place to live have not had a great track record. But with £3.7 billion now being spent on 10,000 new homes and transport upgrades, the latest attempt to re-imagine E16 is looking far more robust.’
A number of areas of London are seeing major
investment right now. Canning
Town would likely qualify
as one of the least glamorous. Potentially therefore, the property market here
has the most to gain from investment of this magnitude.