Old Kent Road among London's fast-changing areas in 2020: series of large-scale new homes developments set to transform south-east London route

In total, £10 billion is expected to be spent on new homes developments, new piazzas and linear parks along the road.
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Ruth Bloomfield30 December 2019

Teetering on the edge of regeneration for the past several years, a series of massive developments could finally change the fortunes of an area which has for generations been known as a cheap buy on the Monopoly board.

This ancient route from Bermondsey towards New Cross has been used by Londoners since the Celts ruled England, and was later paved by the Romans. Today it is dismally scruffy but its future looks increasingly upbeat, with new homes and facilities on the horizon.

Stations nearby include Zone 1 Elephant & Castle on the Northern line Tube, and South Bermondsey, with five-minute trains to London Bridge. But a real game changer, down the line, would be if the Bakerloo line extension goes ahead and Old Kent Road gets a station of its own. Transport for London will make a decision over the next couple of years.

Local schools include Phoenix Primary School, which gets top marks from Ofsted, and Townsend Primary School, Pilgrims’ Way Primary School, Ark Walworth Academy (seniors), which all have “good” inspection reports.

Planning permission has been granted for Cantium, a new mixed-use development at 520 Old Kent Road, bringing more than a thousand new homes, including a 48-storey tower

Why Old Kent Road is tipped as one to watch in 2020

Developers are poised to start massive investment in the area. Last March Galliard Homes and Aviva Investors were given planning permission for Cantium, a £600 million mixed-use scheme at 520 Old Kent Road, including a 48-storey landmark tower, 1,113 new homes, new piazzas, a public square and a linear park.

In total, £10 billion is expected to be spent on developments along the road, focusing on the two miles between the Bricklayers Arms roundabout and the junction with Ilderton Road.

Pros: close to the bars and restaurants of neighbouring Bermondsey and Peckham, and enjoying a ripple of buyers priced out of these areas.​

Cons: right now it’s grotty and traffic-clogged, and its going to be a building site during the short and medium term. Some of the developers will probably hold fire until a decision on whether the Bakerloo line extension is happening.

Average house prices in Old Kent Road ​ and what there is to buy

Most of Old Kent Road is in SE15, a postcode with an average price of £570,000 according to Rightmove, up around a third in the past five years.

£650,000: a three-bedroom terrace house just off Old Kent Road in Peckham

Property on and around the road ranges from elegant Victorian townhouses close to Burgess Park, to smaller period terrace houses around the Bermondsey and Peckham borders. A three-bedroom house would cost £600,000 to £700,000.

Two-bedroom flats on the northern side of the Old Kent Road cost £450,000 to £500,000 but buyers will find better value closer to New Cross, where there are two-bedroom terrace houses priced at £450,000 to £500,000, and one-bedroom purpose-built flats priced between £250,000 and £300,000.

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