Excitement builds as work begins on new cycle superhighway
- 31st March 2015
- Renting Property News
Properties located close to the superhighways could see a surge in demand from those who commute by bike
In the course of a few weeks the promised segregated cycle superhighways which will bisect London have moved significantly nearer to reality.
Work began in March on a three mile segregated super highway for cycles from Elephant and Castle in the South to Kings Cross in the North. Within a month work will also begin on another segregated superhighway linking Westbourne Grove to Tower Hill via the Victoria Embankment, part of a much more ambitious project for an 18 mile link from Barking in the East to Acton in the West.
“This is great news for cyclists and for London” says Stephen Ludlow, Chairman of ludlowthompson. “It also opens up new possibilities for property investors and house hunters, because hotspots are developing in areas which have ready access to these superhighways.
"We have already seen how proximity to Boris Bike docking stations has influenced rental levels. I would be surprised if these new cycle superhighways do not have an even greater impact, because they make commuting by cycle so much easier and safer.”
ludlowthompson points out that bicycles are expensive items so it is a good idea to look for bike friendly properties, where cycles can be stored securely either in a large hallway on in a modern bike shed in the garden.
Earlier this month, new cycle parking standards double the requirement for new commercial property whilst the required storage facilities for bikes in new residential property has been raised significantly.
There is also scope to take advantage of cheaper properties away from Tube stations if they are attractive to cyclists.
Stephen Ludlow comments: “Properties close to Tube stations still command a big premium but the cycle superhighways open up new opportunities, particularly as they will be built much faster than any extension to the Tube network.”
This is great news for cyclists and for London. It also opens up new possibilities for property investors and house hunters, because hotspots are developing in areas which have ready access to these superhighways
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