The once undesirable, scruffy area of Stratford is set to become one of London’s most sought-after postcodes, according to the Centre for Economics and Business Research. London’s first Olympic legacy neighbourhood will reportedly be available for residents in 2013. To celebrate the regeneration of the area, the powers that be have created a new postcode, E20, which gives a nod to the country’s most popular soap opera, EastEnders.
A new study from the CEBR has compared E20’s features to those of other desirable areas of London. London’s first Olympic legacy neighbourhood came up to scratch, thanks to its East Village development, which will provide over 2,800 high quality homes. Half are reportedly affordable homes, and the remainder will be private rentals. The idea is to cater for a people with a wide variety of incomes, including key workers, ex-service personnel, families and affluent professionals looking for somewhere safe and desirable to live in the heart of the capital.
East Village isn’t just a housing estate. In addition to almost 3,000 new homes, it has world class sporting facilities, public gardens, an orchard and wetland area, private balconies and communal courtyards. Cutting edge medical facilities and new high quality education establishment Cobham Academy will make it a winner with families. Meanwhile, over 30 neighbourhood cafes, restaurants and shops will attract young professionals to the area. In short, E20 will have something for everyone.
The village will be one of London’s best-connected residential developments, with fast services to St Pancras (6mins), the City (10mins), Canary Wharf (12mins) and the West End (20mins). The CEBR posits that these super fast connections will support employment in the area, which will be home to the International Quarter, a brand new commercial hub.
CEBR analyst Oman Ismail said: “This much maligned corner of east London, neglected for decades, is set to become a success story. The regeneration associated with the Olympic Games will soon give rise to one of London’s most exciting residential areas.
It’s an outstanding living environment, contributing much to the broader regeneration of east London. Our prediction is that E20, and East Village in particular, will be a highly desirable place to live.
Our research indicates that, based on its unique combination of assets, E20 will compete with the likes of Hammersmith and Highbury, and offer its residents far more than many established London hot spots.”
Source: Property Wire.