Invest in Westminster: London's finance and education hub
In the heart of Prime Central London, Westminster residential property is set for 84 percent capital growth by 2030
[Sponsored Article]
Despite the media's doom and gloom over Brexit, London remains one of the world's favorite cities for residential and commercial property investment. While much of this activity is taking place in the city's up-and-coming regeneration areas, a select number of prime Central London addresses are also entering the market through the sensitive redevelopment of heritage buildings in areas such as Westminster.
The epicenter of the UK capital, Westminster may be known for its historic buildings such as Westminster Abbey, the Houses of Parliament and Big Ben, but its future is also looking bright. Jones Lang LaSalle (JLL) forecasts 84 percent capital growth in the property markets until 2030 and expects the next decade to be characterized by strong recovery in residential demand and prices.
As well as having the best of London on the doorstep, Westminster is one of the UK's leading business centers, offering greater access to talent, networks, customers and finance than anywhere else in the country. Close proximity to world-class universities including University College London, Imperial College London and the London School of Economics offers firms a continuing supply of the best and brightest graduates across many fields.
Center of the UK economy
The local economy in the City of Westminster alone includes more than 46,000 businesses in diverse industries, from world-famous Oxford Street retailers to creative startups in Soho and elsewhere. Some of the world's largest businesses have their global or regional headquarters in Westminster, including Google, BP, Rio Tinto and the BBC. The area is also very startup friendly, with 85 percent of local businesses having fewer than 10 employees.
More than 600,000 people are employed in Westminster, and employee growth is projected to increase by 15 percent over the next 20 years. Competition in the job markets is fiercer here than anywhere else in the UK at all levels, attracting candidates from all over the south of England and worldwide, with high qualification requirements guaranteeing a highly skilled workforce.
University district
Westminster is home to three world-renowned universities: Imperial College London, Kings College London and the London School of Economic and Political Science (LSE). Other local institutions include the University of Westminster, Queen Mary University, Regent's College, the University of the Arts, Royal Academy of Music and the London Business School, as well as campuses and departments of American universities.
Families with children living in Westminster will find a wide selection of schools rated 'Outstanding' by education regulator Ofsted, including Westminster School which offers day and boarding services. Other schools and universities across the city are within easy reach thanks to Westminster's excellent transport links, soon to be improved further when the Crossrail Elizabeth Line arrives at Bond Street, Paddington and Tottenham Court Road stations.
Cultural hub
To many people, the City of Westminster is London. This central borough is where the British capital's most iconic sights can be found, from the neo-Gothic parliament buildings and towering London Eye on the banks of the River Thames to royal residence Buckingham Palace and 10 Downing Street. It's also remarkably green for an inner city area, largely thanks to the three sprawling Royal Parks.
Westminster extends to the West End, one of the world's premier cultural, entertainment, shopping and dining districts. With over 2,500 restaurants and bars (17 with Michelin stars), 2,000 retailers, 40 famous theaters and 30 museums and galleries, you'll never be stuck for things to do.
Demand for housing in Westminster always exceeds the tight supply, but several new developments are creating rare opportunities for overseas property buyers to invest in the very heart of London. This includes Millbank Residences, part of the 9 Millbank development on the banks of the River Thames, which offers luxury apartments in a historic building surrounded by famous landmarks.
Disclaimer: Purchasing uncompleted properties situated outside Hong Kong is complicated and contains risk. You should review all relevant information and documents carefully before making a purchase decision. If in doubt, please seek independent professional advice before making a purchase decision. Our sales representatives for overseas property work exclusively in relation to properties outside Hong Kong and are not to deal with Hong Kong properties, unless expressly stated otherwise, are not licensed under the Estate Agents Ordinance to deal with Hong Kong properties. Property number: IRP_N_101_00161. Planning number: 16/06616/FULL, 13/09737/FULL granted by Westminster City Council. Leasehold: 999 years. The last updated date: 19 February 2019.