If social distancing has taught us anything, it is that we turned to nature in our hour of need. Our least green-fingered friends hurriedly ordered glossy Ficus Elastica and other hardy houseplants. Something, anything to colour the monotonous beige that accompanied quarantine. Those of us who hardly moved from our desks discovered the joy of long walks in the park. In these times then, can you imagine the comfort a window view like the one pictured below would have inspired?
Reeling from cabin fever? Imagine a view like this right outside your window instead.
Battersea Park Nature Areas Local Nature Reserve
We are well aware of the tranquility that greenery can effect, but now, more than ever, we should self-prescribe a healthy dose of nature. Living within 300 metres of urban green space such as parks, nature reserves or play areas has been found to result in greater happiness, a higher sense of worth, and improved life satisfaction.[1]
Correlationally, Knight Frank discovered in The Wealth Report 2020, that more than 50% of ultra-high-net-worth individuals (UNHWIs) in Singapore are taking access to green space into their residential property considerations. This is hardly surprising, given that 80% of UNHWIs globally are dedicating time and money to their own wellbeing.
However, the concept of wellbeing, or wellness, has extended beyond individual health and happiness – to embracing the wellbeing of communities and cities.
Many cities are now placing wellness at the heart of urban planning. Singapore, with almost half of its space under green cover, is one such example.
Whether it is Hyde Park in London or Central Park in New York, living with green space on your doorstep is an attractive prospect, and one that tops the checklist of residential buyers. It is only natural then, that homes adjacent to green space command a premium.
How are properties close to green spaces valued?
The Wealth Report 2020 reveals that globally, on average, a park-adjacent property is worth 18% more than an equivalent home further away. Perhaps unsurprisingly, the data shows that cities with the least amount of publicly-available green space command the highest premiums on account of the relative scarcity of greenery. In the UK, the importance of green spaces has become a key theme for British policy makers and this has naturally affected the property market. Less openly accessible green spaces coupled with the value these vital spaces play in the lives of Londoners has contributed to London leading with the highest price premium that park-adjacent properties can command.
How can buyers then purchase a park-adjacent residential property in greenery-scarce London without an accompanying high premium? Consider Battersea Park, a long-held South London secret that has found itself in the eye of a development storm.
Introducing the beautiful Prince of Wales Drive, an exciting property for investors and home buyers alike.
Battersea is home to the world’s most famous power station, and in 2021, Apple’s new London headquarters. Apple estimates that 1,400 of its employees from existing offices around London will relocate to the new development – providing a natural rental market for property owners. The Duke and Duchess of Cambridge have also chosen to educate their three children at Thomas’s Battersea; a royal enrolment that has heightened the desirability of property in the school’s vicinity.
Battersea Park
Battersea Park itself is a 200-acre green space and one of the biggest parks in London. Situated on the South bank of the River Thames, it commands lovely water and nature views. And of the key developments coming up near Battersea Park, Prince of Wales Drive in particular offers buyers and investors a quality return on investment.
Prince of Wales Drive is a large development by St William, part of the Berkeley Group, and just a 3-minute walk from Battersea Park. Set within 2.5 acres of beautifully landscaped gardens, this collection of spacious apartments offer a premium specification and distinctive interior design. With some apartments enjoying stunning views over Battersea Park and most set within an award-winning landscaped garden, Prince of Wales Drive ensures that greenery is always within sight.
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