The Placemaking Premium
Jennet Siebrits, Head of Residential Research, discusses benefits that effective placemaking has on regeneration areas across London, as well as the impact it can have on the quality of life in these areas.
From the famous transformations of Covent Garden, Southbank and Kings Cross, regeneration has always been an important part of the ever-evolving London landscape.
Regeneration can take many forms, from the simple rejuvenation of a run-down area, through to an effective remodel of the underlying fabric by addressing the deeper social, cultural and economic environments. CBRE research has shown that it can also have a marked impact on local property markets, with house prices around regeneration zones increasing by 4.7% per annum over and above wider house price growth.
Whatever form it takes, regeneration works to greatly improve the quality of life for the residents of an area, and transforms it into a more desirable destination.
Placemaking is a careful consideration which is hugely important in ensuring that an area benefits wholly from regeneration efforts. A multi-faceted approach to designing a new development brings all elements together in a cohesive and diverse environment. This approach ensures that an area has the appropriate balance of residential, retail, education, leisure, offices, transport and community spaces. Effective placemaking has been shown to impact positively on property prices, adding 10% to property prices compared with the wider area.
Within our development showcase we have listed some of London’s best developments located in many of London’s top regeneration areas.