Bakerloo Line
The Bakerloo Line extension has long been a topic of interest for south-east London residents, property developers, and estate agents. Recent developments indicate that the project has taken a significant step forward, with Transport for London (TfL) appointing two major companies to conduct a feasibility study on new stations proposed along the route. This multi-billion-pound project aims to extend the line south from its current terminus at Elephant and Castle, with proposed stations at key locations such as Burgess Park, Old Kent Road, New Cross Gate, and Lewisham.
For potential property buyers, sellers, and investors in areas served by Alex & Matteo Estate Agents, these transport improvements represent an exciting opportunity to capitalise on increased demand and rising property values. Here’s a closer look at what the extension means for local real estate and why now might be the perfect time to invest in south-east London.
The proposed Bakerloo Line extension is a long-term project designed to improve connectivity between south-east London and central London. Currently, the Bakerloo Line terminates at Elephant and Castle, but the extension plans will add stations further south along the Old Kent Road, connecting to New Cross Gate and Lewisham. These areas, already well-served by the Overground, DLR, and National Rail, will benefit greatly from this additional transport link, making commuting to central London faster and more convenient.
Bakerloo Line Extension
At the heart of the extension plan are two new stations along the Old Kent Road, one near Burgess Park and another further down the road. The line will then continue to New Cross Gate and terminate at Lewisham. TfL has chosen AECOM and WW+P to conduct a feasibility study to determine the viability of these new stations, with the study expected to take eight months to complete.
Although the project is not yet funded, it is hoped that once the design and feasibility work is complete, funding can be secured, and construction could begin in the 2030s, with services potentially starting in 2040.
One of the most significant impacts of the Bakerloo Line extension will be on local property prices. Historically, areas that have benefitted from improved transport links have seen a sharp increase in demand from buyers and renters, and as a result, property values have risen. South-east London is no exception.
Burgess Park
Currently, areas such as Bermondsey, Rotherhithe, and Canada Water are experiencing growing demand due to their proximity to central London, the Thames, and major development projects. The Bakerloo Line extension will only add to this appeal, particularly in areas like Old Kent Road, which has been earmarked for substantial regeneration as part of the project. The introduction of new stations along this route will not only make commuting more convenient but will also ‘unlock’ the development potential of these neighbourhoods, creating more homes and job opportunities.
Old Kent Road
According to estimates, the Bakerloo Line extension could create nearly 9,700 jobs and facilitate the construction of over 20,000 new homes. This significant influx of new properties is likely to drive further investment into the area, boosting property prices and increasing demand for both residential and commercial real estate.
For property investors, the Bakerloo Line extension presents an exciting opportunity to buy in areas set for future growth. Burgess Park and Old Kent Road are prime examples. Both areas are currently undergoing regeneration, and the addition of a new station will significantly boost their appeal to commuters and professionals working in central London.
Old Kent Road
New Cross Gate and Lewisham, already well-connected by the Overground and National Rail services, are also expected to benefit from the increased accessibility the Bakerloo Line extension will provide. Lewisham, in particular, is seeing a surge in popularity, thanks to its vibrant cultural scene, excellent schools, and thriving local economy. The Bakerloo Line extension is expected to slash journey times from these areas into central London, making them even more attractive to prospective buyers.
Beyond transport, the Bakerloo Line extension is also part of a broader regeneration initiative that will bring substantial benefits to the community. Old Kent Road, in particular, is undergoing significant redevelopment, with plans for new homes, retail spaces, and community facilities. This regeneration is designed to create a more liveable, sustainable urban environment that meets the needs of its growing population.
Lewisham
For homeowners and landlords, these changes present an opportunity to benefit from rising demand for properties in rejuvenated areas. With thousands of new homes planned as part of the Bakerloo Line extension project, developers and investors will likely be keen to take advantage of the increasing property values in these key south-east London neighbourhoods.
The Bakerloo Line extension is set to transform south-east London, bringing faster and more efficient transport connections to areas that have long needed them. For property buyers, sellers, and investors, this project represents a unique opportunity to invest in an area poised for growth.
With Alex & Matteo Estate Agents’ expertise in the local property market, you can take advantage of this exciting time to buy or sell in Bermondsey, Rotherhithe, Canada Water, and surrounding areas. Whether you’re looking to purchase a home for yourself or make an investment in one of London’s fastest-growing regions, our team is here to guide you through the process and help you find the perfect property.
As we await further developments on the Bakerloo Line extension, now is the time to start thinking about how this project could impact your property decisions. If you’re considering buying or selling in south-east London, get in touch with Alex & Matteo Estate Agents today for expert advice and insights into the market.
