One Year on from Crossrail: Southmere continues to transform Abbey Wood

Following the launch of Crossrail last year, numerous areas along the line have witnessed transformative effects on their landscapes – with house prices quickly following suit.

One such area is Abbey Wood, an increasingly popular and in-demand area for first-time buyers in South-East London where house values have risen by a huge 100% due to its proximity to the Elizabeth Line*.

Peabody is helping first-time buyers step onto the property ladder in this South-East London hotspot through its ambitious regeneration of the Thamesmead project, with homes at the first major phase, Southmere, continuing to enjoy strong demand.

Despite Abbey Wood seeing the strongest price growth along the Crossrail line over the past decade,** Peabody’s Shared Ownership offering means purchasers have an affordable alternative for the area, which still offers great value for money. Their new collection of one, two and three-bedroom Shared Ownership apartments have just launched at Southmere, supporting buyers by reducing the financial barriers for those looking to step onto the property ladder. The part buy/part rent scheme makes it possible for first-time buyers to purchase a property that otherwise would not have been affordable.

At Southmere, interested buyers can purchase a 25% share of a 1-bedroom apartment for £78,750, with a deposit of just £3,938. Ideal for singles or couples, purchasers can buy a home at a significantly lower cost than on the open market.

Steven Midgley, Head of Sales & Marketing for Southmere at Peabody comments, “Over the last year, the Elizabeth Line has undoubtedly had a transformative effect on residents at Southmere. The new route marked an exciting new era of connectivity for Abbey Wood, which already offered impressive links across the capital, making travel even more convenient and efficient.

“Being just 11 minutes from Canary Wharf and 17 minutes from Liverpool Street, we’ve seen an influx of new interest - there has been particular interest from young professional buyers who recognise Abbey Wood’s potential as a commuter hotspot, somewhere that is now firmly on the capital’s map. With Shared Ownership available at Southmere from as little as £78,750 for a 25% share it ensures this in-demand location remains affordable to as many buyers in the capital as possible.”

Unapologetic in their high-quality design and finish, homes at Crane Court offer a contemporary blank canvas for any homeowner looking to make their mark on their new home. Designed to create a feeling of space within the homes, open-plan living/kitchen/dining areas have been thoughtfully designed with clear zoned areas, while large windows allow vast amounts of light into apartments. With most homes benefiting from inset balconies, first-time buyers can enjoy this private space throughout the year and truly benefit from every inch of their home without compromise.

Ensuring buyers feel secure in their new purchase, all Peabody homes have a 999-year lease as standard.

A home at Crane Court includes access to an exclusive podium garden, and homeowners will benefit from purpose-built amenities including a concierge service, residents’ lounge, meeting rooms and workspaces, which are now open. All amenities further support the well-being of residents by providing a space to escape, focus and socialise. A communal bicycle storage on the ground floor also encourages residents to explore the local landscape on two wheels.

Crane Court is positioned off Cygnet Square, where Thamesmead Arts and Culture Office (TACO!) has moved - a place for people to meet, socialise and get creative with a packed calendar of events, contributing to the neighbourhood’s growing arts and culture scene. The Nest library and community centre has also recently opened, with even more new services and shops set to arrive in the square in the coming months.

Pairing the best of blue and green living, Southmere is rare in delivering a new London neighbourhood with a lakeside setting and an abundance of green space, offering over 240 hectares of parks and green space, five lakes, and seven kilometres of canals. Currently undergoing a £2.5 million renovation, Southmere Lake will provide access to a new Boat Club, ideal for paddleboarding, kayaking or sailing.

Prices start from £78,750 for a 25% share of a one-bedroom apartment (FMV 315,000), £112,500 for 25% share of a two-bedroom apartment (FMV £450,000) and £131,250 for a 25% share of a three-bedroom apartment (FMV 535,000).

Find more than just a place to live at: southmere.co.uk