Many potential buyers that I’ve taken out recently have voiced concerns on the area of canary wharf and whether or not it’s still a great place to invest/live in considering the amount of new build both completing and still being constructed. Many feel there could be more supply than demand in the months to come?
Of course its true there is a tremendous amount of new build in the area and yes, it’s a good question. My response is you only have to look around the commercial and retail side of the area to confirm that the area is still growing and major retailers are still keen to invest in the area, surely this is confirmation in itself that canary wharf still has huge growth potential. Only last week we saw the opening of Jamie Oliver’s new restaurant, a major investment in a time when cautiousness is the name of the game for most restaurateurs’ and retailers. Further confidence came with the announcement of Kurt Geiger another major retailer taking space in Cabot square. Canary wharf has always been a firm favourite of young professionals but families now continue to live in the area rather than move out as they have done in the past, upgrading to larger units rather than reluctantly leaving the place they have grown to love. Weekends – which were in the early days dead are now busy with both shoppers and people, sitting around eating and drinking in the many fine bars and restaurants we have to offer. With the market bottoming out buyers continue to search out a bargain, realising they are now able to afford to buy something that was simply out of the question 2 years ago. With the various infrastructure continuing to grow and be upgraded and the Olympics’ still on the horizon, I would say come – see – look around, yes Canary Wharf has made its mark and yes without hesitation it still remains a great place to both live and invest.