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Regeneration Area Attracts Investor’s Interest

Posted 14 July 2021 by Keith Osborne

Investor Michael Tobin has purchased the latest home in his portfolio off-plan from Berkeley in Oval, south London...

A strong interest in new properties in regeneration areas, and those with a sporting heritage, drew Michael Tobin’s attention to Berkeley’s Oval Village development in Vauxhall. Michael was swift to recognise the potential of this new community next to the famous Oval cricket ground, and he has reserved a Manhattan (studio) apartment off-plan.

He explained: “I’m always on the lookout for interesting new buy-to-let properties to add to my property portfolio. I prefer regeneration opportunities and already own apartments in areas including Elephant and Castle, Battersea, Tower Bridge and Canary Wharf. Oval Village’s link to the historic Oval Gasholders adds an interesting dimension, as does its proximity to the Oval – not least because I’m a cricket fan and regular visitor.”

Buying new properties off-plan is Michael’s preference: “My apartment at Oval Village won’t be ready until 2023, but I take a long-term view. Berkeley is a highly reputable company. Buying off-plan has the advantages of allowing for a period of growth before I take possession of the property and the full cash outlay isn’t needed for some time.”

Michael, a technology investor in his 50s, lives in Bermondsey and was driving past Oval Village when he spotted an advertisement on the hoarding. He said: “I did some research and, as well as the historic and sporting links, I really liked Berkeley’s vision for a village-like environment. Residents will enjoy a location with plenty of green space, close to the river, and yet still be in the heart of central London.”

Michael thinks that green space is more important than ever since the pandemic. He said: “COVID-19 has put the spotlight on outdoor space. People still want to live in London, but want to get out and enjoy greenery too. Oval Village has plenty of parks nearby, as well as private gardens where they can work outside in summer, and feel safe within their own community.”

Oval VillageOther residents’ facilities at Oval Village will include a gym, swimming pool and 24-hour concierge, which Michael believes is essential. He said: “Safety is really important. A concierge provides an extra layer of security as well as convenience; there’s tremendous value in having a concierge to receive parcels whenever you’re out or at work.”

Equally important are the excellent transport links from Oval Village, which is around seven minutes’ walk from Vauxhall and Oval stations; it is just seven minutes by Tube to Oxford Street and nine minutes to Bank. “It’s good having two Tube stations down the road and the ability to get into central London or the City very quickly,” commented Michael.

From Oval Village it is easy to reach many of London’s leading colleges and universities, including the London School of Economics and King’s College London. Michael sees this as increasing rental opportunities, as he explained: “Berkeley’s properties are a higher specification and standard than typical student accommodation, but many postgraduate students choose to stay in the same area when they get their first job, because they enjoy it and are used to living there. This gives another string to the bow for rentals.”

Although Michael has not visited the show home, he is confident in the quality of his apartment. “Several of my properties are from Berkeley and I have no doubt that my apartment at Oval Village will match their high standards,” he said.

At this early stage, the buying process is proceeding well. Michael said: “It’s very straightforward to buy at Oval Village. Berkeley has a customer portal where you can choose colour schemes and other options, and I receive regular updates on the development. The team is proactive in keeping in touch and financial transactions have gone smoothly – I couldn’t ask for more.”

Michael concluded: “I would absolutely recommend Oval Village to others, for many reasons. It’s a great area, very central, highly accessible and I consider it much better value than north of the river.”

Find out more about Oval Village from Berkeley.


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