Oval has been named one of London’s hottest property prospects by market intelligence company Dataloft.
Neighbouring the Vauxhall Battersea Nine Elms Opportunity Area – the capital’s largest regeneration area – and benefitting from its new Zone 1 location, Oval’s city-centre status has been cemented.
According to Dataloft, Oval has benefitted from a 34% rental growth over a two-year period, strongly outperforming Battersea and Nine Elms (15%), Greater London overall (15%) and the Transport for London Zone 1 average (9%).
In addition, the impact of Kennington’s rezoning isn’t to be underestimated; achieved rents in Oval surged 47% in the three years following the change, and the area has seen the fastest rental growth of all South London locations within a 10-minute journey to the City.
Oval Village, Berkeley’s landmark mixed-use regeneration scheme located between three stations in the neighbourhood, qualifies for TfL’s highest possible connectivity rating, based on access to transport and frequency of services; only 1 in 25 Londoners live in areas with this rating and buyers pay a premium of up to 120% compared to areas with the average rating of 2.
Oval is a short walk from the Thames, boasting an impressive array of independent shops, cafés, restaurants and pubs. It features many parks and commons – including Kennington Park and Vauxhall Pleasure Gardens – with nine public parks within a 15-minute walk from Oval Village; the development itself will provide an additional 64 acres of accessible green space. Some of London’s best schools and universities are within close reach, including Harris Academy in Battersea, King’s College London and the LSE.
Oval Village, built around the world-famous Victorian gasholder that dominates the local skyline and situated adjacent to the Kia Oval Cricket Ground, will deliver 1,360 homes including 35% affordable, landscaped public spaces, shops, cafés, restaurant and leisure space; all of which will help provide over 1,000 jobs.
The brownfield site is being reconnected with the local community for the first time in decades, with a network of public paths and cycleways being woven through the neighbourhood, all of which will be fully accessible for incoming residents.
Dataloft has found that homes within 500 metres of heritage sporting venues can command a premium of up to 19%, while analysis on prices paid at Kings Cross Gasholders found that buyers can pay up to 79% more to live in an iconic gasholder structure.
The Oval Village development will feature an abundance of tranquil green interconnected spaces designed by landscape architects Murdoch Wickham. A living wall of greenery and tumbling roses will be supported by the frame of the gasholder. In addition, Oval Village will be home to extensive commercial and retail space; Oval Works is the flagship office building at the development which has been acquired by Landsec.
Residents have access to amenities including a 24-hour concierge, cinema, meeting room, courtyard garden and roof terrace offering stunning views across London. Amenities will be further enhanced at The 1847 Club, with world-class facilities including a swimming pool, gym, spa and treatment rooms, located in the new building within the frame of the gasholder.
The gasholder itself is being converted to create a unique collection of 200 modern homes with a historic twist. Many of the homes inside the gasholder building will benefit from direct views into the Kia Oval, with a communal roof terrace offering all residents the opportunity to watch cricket whenever they wish.
Prices at Oval Village start from £580,000 for a one-bedroom home. More details: www.ovalvillage.co.uk
