Bayswater is located between Hyde Park and Notting Hill and falls in the London W2 postcode. This area is transforming, and people are beginning to take notice of the fact that Bayswater is moving on to another level in terms of real estate. Cheap hotels that used to be dotted throughout Bayswater are now being replaced with luxury flats and plans are being made to create a new urban village.
For several years, Bayswater had seen little development. However, this situation is changing now as former hotels are being converted into luxury apartments, providing more properties for sale in Bayswater. The first project that put transforming Bayswater on the real estate map was the redevelopment of a former hotel on Bayswater Road, which was initially built as 15 mid-Victorian town houses. It was redeveloped into The Lancasters, which consisted of 77 impressive apartments that ended up fetching record prices for the area. Following The Lancasters’ success, which achieved prices of over £3,800 per square foot, developers are now looking at Bayswater in a new light – as an area where there is demand for high-end property.
There are several developments taking place in Bayswater that are aiding its transformation and upward trajectory in the real estate market. Developers are buying cheap hotels in areas such as Leinster Square and Westbourne Grove and converting them into luxury one-, two- and three-bedroom flats and penthouses. There are also new-build developments offering two- and three- bedroom flats in Westbourne Gardens. In addition, there are plans of creating a new urban village in Queensway, which is the main shopping area in Bayswater that includes Whiteleys shopping centre. This new village is tipped to become the Covent Garden of west London in a few years.
Buyers are now appreciating properties with gorgeous white stucco terraces and garden squares in Bayswater, which are similar to those in Notting Hill and Belgravia. Although prices are rising here, there is still opportunity for growth, and Bayswater is still cheaper than the pricier areas of Notting Hill and Marylebone. However, it won’t be long until prices here come up to the same level as Notting Hill.
Some of the best properties for sale in Bayswater can be found at Lancaster Gate and Cleveland Square situated in the east of Queensway and Palace Court in west of Queensway. Other good areas to look for properties for sale in Bayswater include Kensington Gardens Square and the Westbourne Park area.
If you are looking for properties for sale in Bayswater, be sure to check out listings available at Cavendish Rowe – expert Bayswater estate agents in W2.