Potential impact the Battersea Power Station project could have on the Chelsea market

A report by Chelsea estate agents Russell Simpson, which focuses on the potential impact the Battersea Power Station project could have on the Chelsea market.

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Some of the key findings:

  • The report has found that Chelsea property has risen 169% in 10 years, which could be driving young first-time buyers and elder downsizers across the river in search of better value
  • The average property in Chelsea is 32% more expensive than in Battersea (the difference rises to 40%when comparing apartments)
  • Despite the price difference, Battersea Power Station is only a short walk from Sloane Square (12-minute walk), which a real plus point according to the long-standing agents
  • Battersea is less expensive than Chelsea currently, but has exceptionally strong potential for investment growth, with Russell Simpson predicting price growth of upwards of up to 15% by 2020 when the development is complete
  • The luxury new-build offering at Battersea is also seen as a huge draw, with some overseas investors favouring this over more traditional properties in Chelsea
  • Battersea has more space for luxury new build apartments compared to Chelsea
  • Apple and the US Embassy are expected to bring other innovative people and businesses to the area

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