AT Home with Sarah Beeny - December 2011 - (Page 54)

W Going for gold ho can forget the euphoria experienced by the whole of Britain in 2005 when it was announced London would host the 2012 Olympic Games? The capital won a two-way fight with favourites Paris and although it was a momentous day for everyone in British sport, the East End’s property investors were equally delighted at the prospect of boosting the economy. The extortionate amount of cash being generated into redeveloping the areas in and around the Olympic Village in Stratford, will leave a legacy beyond the summer of 2012. In fact long after that, too, as London has also secured the second biggest event behind the Games – the 2017 World Athletics Championships. Pipping Doha to the post in mid-November means it won’t just be the Olympic Stadium which is the focus once again, but the area, too. So have property prices in the East End rocketed since that major decision in Singapore six years ago? Surely the ongoing regeneration of this once run-down area means investors, homeowners and developers alike will take advantage and no doubt reap the rewards come next year, but is it all plain sailing? it has been desired that this area will finally be elevated to a level where it deserves to be. And in terms of regeneration, the East End of London – Stratford in particular – has certainly benefited from the upcoming Games. Industrial land around the River Lea that may never have been developed has been turned into an international sporting arena and neighbouring areas have been gifted with new residential developments, shops and transport links. The CBRE (CB Richard Ellis, a commercial property and real-estate services adviser) is convinced about the positive impact of the Games. It states in a report: ‘The Olympics will provide a boost to Stratford as well as other parts of London, but their greatest legacy will be the land that was assembled to host the Games – the landscape of East London has changed totally.’ Development in the East End has continued during the worst recession since the 1930s in order to hit the 2012 deadline, while similar developments across the country have ground to a halt. The newly opened shopping centre, Westfield Stratford City, is an example of this. Westfield’s commitment in continuing the development despite a difficult economic climate gave other investors confidence to continue their projects. ‘East London has emerged from the recession in a much better state than the rest of Greater London,’ says CBRE. A cAsh injection Although a stone’s throw away from the City of London, the East End has, in many ways, been a million miles away. Gangsters like the Kray Twins are what spring to most people’s minds when thinking about this corner of the world, rather than a place where fortunes are made. While property prices in central London seem to defy recessions and economic gloom, house prices in the East End have always struggled to keep pace. But since 2005, Mixed MessAges With all this, you would expect property prices to have been oblivious to the credit crunch and rocketed. But that’s not quite the case. Average house prices in Stratford, the area pinpointed to scale new heights, have only gone up around 4% since 2005 – from approximately 054 | DECEmbEr 2011

Table of Contents for the Digital Edition of AT Home with Sarah Beeny - December 2011

EDITOR’S LETTER
HELLO FROM SARAH
NEWS
MAKE IT A DATE
FESTIVE FOCUS
HOME COMFORTS
LIGHT FANTASTIC
PASTE IT UP
SARAH'S WORLD
VILLAGE REVAMP
TO LET OR NOT TO LET?
KEYS TO THE DOOR
QUEEN OF THE CASTLE
HOT PROPERTY
GREAT SCOTS
TRICKS OF THE TRADE
LODGE LIFE
VICTORIAN SPLENDOUR
FINISHING TOUCH
BEST OF THE BRIGHTS
STORE IN STYLE
BOUDOIR BEAUTIFUL
SHAKE IT UP!
FINE DINER
WHAT’S COOKING?
TOPS TOTTY
SPLASHING STUFF
NIGHT ON THE TILES
GADGETS GALORE
OPEN UP
TOTALLY FLOORED
MAT FINISH
COSY CARPETS
HOT STUFF
THE TEMPERATURE’S RISING
RADIATE THIS
FLAMING GREAT
BURN BABY BURN
DREAM HOME
GOING LARGE
SLIDING AWAY
KEEP IT IN
DRAUGHT EXCLUSIVE
DON’T BLAME THE TOOLS
GOING SOFT
ECO EXCELLENCE
WASTE NOT
BRIGHT SPARK
SUN SCREEN
STREET VIEW
BLOOMING BRILLIANT
GARDEN INVADER
GLITTERING BUYS
COMING SOON
SARAH SAYS
MANSION MARVEL
LAST WORD
STOCKISTS
PERFECT PROPERTIES

AT Home with Sarah Beeny - December 2011