CBRE Borough Guide: Barking and Dagenham
Large-scale regeneration is completely transforming this outer London borough. For example, Barking Riverside, one of the largest regeneration sites in the UK, will create a new waterfront town in East London, providing a total of 10,800 new homes. In addition, there will be a new school (the largest free school in the country), 700,000 sq ft of commercial space and a new train station – the London Overground service will be extended to Barking Riverside as part of a £70 million investment programme into the route. The new service will open in 2020, cutting travel times to the City to just over 20 minutes.
Our research indicates that regeneration can result in a house price growth premium of 4.7% per annum over and above standard inflation.
Good to know:
- The Elizabeth Line (Crossrail) will dissect the north of the borough with a station at Chadwell Heath.
- Barking Town centre has been rejuvenated over the last decade. In addition, plans to redevelop Vicarage Field shopping centre have recently been approved – this will create a state of the art shopping, dining and leisure destination.
- Barking has the highest expected population growth of 15% over the next decade.
- Barking Power Station provides over a third of London’s annual energy consumption and has one of the best environmental records for similar buildings in Europe.
- The Becontree estate was built in 1921 to reward the families of soldiers who had served in the First World War. It was the largest council housing estate in the world at the time