Paddington Basin
It is the name of a canal. When you see flats or terraced homes for sale in Paddington Basin, you are looking at living in an area that was once a bustling reshipment area. Opened in 1801, it became a very important dock region that serviced the landlocked areas nearby.
Over the centuries, things change and Paddington Basin is no exception. Since about 2000, the area has gone under massive redevelopment and you can find some very nice homes in the area.
The name Paddington Basin covers both sides of the canal and over the past 20 years, millions of square feet of office, home, shopping, and leisure activities space have been developed.
These projects have transformed the Basin from a dirty canal to something valuable and worth living around. After moving in, you will find a Marks & Spencer head office and store, a Premier Inn, and other upscale companies that have moved into the area.
St. Mary’s hospital is also on the north wharf side of the canal. 1 & 3 Merchant Square buildings provide over 200 units of apartments as well as office space and shops, while #2 Merchant Square will be filled with retail and office space.
6 Merchant Square should have or has added another 119 apartments to the project. Not to be outdone, #4 is adding about 200 more apartments while #5 is reserved for office and retail space.
Paddington Basin Real Estate Values
Even with the large influx of modern apartments through the 6 Merchant Square complexes, you may find that available apartments are not that large in number.
Many homes, apartments, flats, and so on are listed as being located in Paddington or Hyde Park or some of the outlying areas of Paddington. Their values range in price significantly.
Around the basin and specifically in the Merchant Square section of the redevelopment, you will find that most apartments will range in value between £500,000 to over £1,250,000.
On the south and east end of the canal, you will find that prices for similar apartments, etc., are priced and valued under £1,000,000. The majority will be valued in the £500,000 to £600,000 range with a few higher and lower exceptions.
Along North Wharf Road, you will find housing values to be in the neighbourhood of £900,000 approx. and higher. The South Wharf Road either does not have any units for sale or it is dedicated to office and retail space.
The further you go from the Canal region the lower the values will be until you hit the rich enclaves of Paddington like Hyde Park Estates. The values for this area are lower and that could be due to its slum reputation in the past.
When You Want To Live In Paddington Basin
Your choices are rather limited in this neighbourhood and it would take a skilled estate agent to find something you would like. Currently, there are not a lot of available apartments in this little redevelopment.
However, our estate agency has been in the buying and selling business for over 10 years. We know and understand the Paddington Basin section of the real estate business.
Our agents are very skilled at helping their clients find the right home in this new development. Come in or call our agency today to talk to one of our professional agents to see what they can do for you.
Bring in all your questions so they can answer them for you before you start looking. Due to the limited options available, it is a very tough seller’s market and you need the best to help you find the best apartment for you.