Once an area at the heart of Britain’s Royal Navy and with close royal connections, in more recent times Deptford has been an often-neglected part of the capital that had undergone decline for decades, but it is now one of the most talked-about areas of London’s property market, undergoing extensive regeneration with the construction of many hundreds of new homes.
Located riverside south-east of Rotherhithe, north-east of New Cross and west of Greenwich, Deptford is now home to a number of building sites with developers large and small planning a great variety of homes for the SE8 area.
The geographical location of Deptford is certainly alluring for many of those looking around it for a new home. “Buyers have been attracted by the excellent transport links to Canary Wharf and the City, the significant regeneration and development of the surrounding area, including Canada Water and Surrey Quays, and proximity to the river,” says Janet Kidner, project director at The Timberyard Deptford by Lendlease, a company that is already well-established in large regeneration projects at Elephant & Castle and Stratford in London and the city centre Hungate scheme in York.
Its excellent transport connections are one reason for people being attracted to the area, but its appeal is wide-ranging. It has a fascinating and colourful heritage, still to be seen first-hand in historic buildings and monuments; it has a thriving arts scene; and it has one of London’s liveliest street markets, which has its own long history and still takes place in Deptford High Street three days a week. Property prices here are competitive too, …
Just five years ago, the BBC focused on Deptford as part of its The Secret History of Our Streets series, where it tracked the history of the area from the late 19th-century research of social reformer Charles Booth through to the present day, noting the many changes in demographic with contributions from many long-standing residents.
Deptford’s history goes back much further than Victorian times, however. Originally a part of Kent, it was mentioned in Chaucer’s Canterbury Tales as it was on the pilgrims’ route from the capital to the cathedral city. In the Tudor period, it became a prominent destination as Henry VIII’s built up his Royal Navy by establishing a dockyard there. Its significance lasted for many years and its reputation grew, with Elizabeth I knighting Sir Francis Drake there and Russian tsar Peter the Great studying shipbuilding there at the end of the 17th century.
The decline of its naval connections due to the silting of the River Thames and growing competition from other ports around England brought poverty to the area but Victorian philanthropy created the Deptford Fund and later the Albany Institute to bring culture to the deprived population, the latter still a high-profile arts venue and just a part of a larger cultural scene, not least fuelled by Deptford’s proximity to the world-renowned Goldsmiths, now a part of the University of London and which boasts alumni such as Antony Gormley, Sarah Lucas and Damien Hirst.
The house-hunters of today are a discerning crowd, especially when they are investing as much money that living in London requires, and while some corners of Deptford could benefit from some serious TLC, there is an interesting mix of the traditional with more up-to-date features.
Some of the businesses along the High Street have long family connections, while some units are introducing a decidedly 21st-century element to consumer choice. You’ll find a range of shops and outlets including cafés and takeaways alongside mini-markets, beauty salons and pubs.
Deptford Market Yard is a new addition to the neighbourhood, bringing a collection of trendy eateries, fashions stores, a florist, hairdresser and, soon, a place for some unusual exercise routines illustrated by its name, Circusfit.
Other leisure facilities include Wavelengths on Deptford Church Street, with a gym, soft play, swimming pool and leisure pool among its facilities, and Meridian Fitness, which has steam, sauna and spa as well as a daily schedule of pilates, yoga, zumba, and spin classes, among others. It’s only a few minutes jogging or cycling east to reach beautiful Greenwich Park and, a little further on, Blackheath.
Throughout its history, the spirit of the local people has been strong in retaining the character of the area and property developers already at work in Deptford are seeing first-hand the reasons their buyers are coming there. Ben Allen, project director at Anthology, which is building Deptford Foundry, says: “Other areas have recently shone in the spotlight but Deptford is now becoming cemented as the future of the up-and-coming swathe of London. There is a real sense of community that is hard to find in many London boroughs.
“The streets are vibrant, crammed with family run independent shops, local bars, cafés and restaurants offering an array of international delights as well as trendy music venues. More recently, Deptford Market Yard has opened by the station becoming home to a number of boutique shops, restaurants and bars.”
Anthology has spent a great deal of time working with local residents and the Deptford public before and since the launch of its development in May 2016, including the sponsorship of the Deptford X arts festival, acknowledging the importance of the arts scene in this corner of the capital.
“The commercial space at Deptford Foundry has been let on a long 250-year lease to the affordable art space provider, Second Floor Studio and Arts,” adds Allen. “This means the development will benefit from a creative buzz from the day customers move in, as well as further enhancing the already vibrant art scene in Deptford.”
Anthology Deptford Foundry is transforming a former trading estate into a new community of 316 homes. There is a mix of one-, two- and three-bedroom apartments to choose from alongside the 32,000 sq ft of commercial space. Some 15 apartments were reserved on the first day of sales and while there was a brief ‘wobble’ in buyer confidence shortly after the EU referendum shortly afterwards. By the end of 2016, nearly half the first phase was already sold, with around 40% to owner-occupiers and 60% to buy-to-let investors.
These homes are just a 12-minute walk from the High Street and station, even closer to the open spaces of Folkestone Gardens and Deptford Park. The development has a stylish marketing suite which demonstrates the company’s individual approach to bringing its homes to this part of London, with a show apartment for potential buyers to see the specification first-hand. Prices currently start at £395,000 (anthology.london/developments/deptford-foundry), with the first residents expected to arrive in summer/autumn 2018.
Closer still to Deptford Park is The Timberyard, which is “transforming an underutilised industrial area into a new place for people to live, relax, enjoy and spend time,” says Janet Kidner of developer Lendlease. With six individual neighbourhoods in all, built around public and private open spaces, this new scheme will combine 1,132 new homes alongside nearly 100,000 sq ft of commercial and retail space.
Kidner continues: “The area’s rich history and industrial heritage has played an integral role in our plans for the scheme. The architecture and the design, for example, is very much inspired by the former warehouse buildings that came to shape Deptford’s landscape and the materials used are in keeping with the local area. We have also ensured the line of the Grand Surrey Canal has been retained and will form our central Waterline Park.”
Cedarwood Square is the first of the neighbourhoods to be released, with a total of 203 properties, a mix of apartments and duplexes. Prices here start at £470,000, a price point that appears to have attracted a good mix of property hunters already. “We have seen strong sales to date from a range of buyers,” says Kidner, “reflecting the broad mix of homes available at The Timberyard Deptford – which accommodate first-time buyers, young professionals and growing families alike.” (www.thetimberyard.london)
Over by Deptford Creek, Kent Wharf was recently launched, also offering a variety of one-, two- and three-bedroom apartments, with the Help to Buy London initiative available on selected plots under £600,000. This requires buyers to pay just a 5% deposit, supplementing it with an equity loan of 40% of the property price, interest-free for five years.
This Bellway development also showed house-hunters’ keenness for the area, with 27 of these properties sold on the first day and 75 current available. This development’s location may also be a strong factor, being roughly equidistant from a number of DLR and National Rail stations, specifically Deptford, Deptford Bridge, Cutty Sark and Greenwich.
Emma Denton, head of sales at Bellway Thames Gateway, sums up the area’s current ‘vibe’ and appeal to homebuyers looking to settle in the capital: “Deptford has incredible art and design influences. The district’s close proximity to Goldsmiths University, with its leading international reputation, makes the area world-renowned for creativity. This creative edge has driven the growth of independent retailers, artisan eateries and local community events such as the local Brockley Food Market with all locally sourced produce.”
Prices here currently range from £369,995 to £679,995. (www.bellway.co.uk ; 01689 886400).
More for the future – Convoys Wharf
A major plan for the former King’s Yard dockyard is slowly taking shape. This waterside brownfield site, now known as Convoys Wharf, stretches over 16.6hectares and has 500m of waterfront, and plans for its redevelopment started in the early years of this century.
Outline permission for the scheme was granted a few years ago for Hong Kong-rooted developer Hutchison Whampoa, with plans for 3,500 new homes (15% of which will be ‘affordable’) alongside new commercial and retail space, a new primary school and the restoration of the Grade II listed Olympia Building.
The site will also open up the riverside to the public for the first time in 500 years, including a river-bus route to Canary Wharf, as well as creating new footpaths and cycle routes and a number of public open spaces and artworks. A brand new bus route will connect the development to Deptford railway station.
Popular local blogger The Deptford Dame last year posted video footage of a drone flight over the site, showing its current state. Work has already begun on access roads into the site to allow the beginning of construction when detailed plans are finally approved.
A little further afield
Greenland Place is a substantial scheme up the road in Surrey Quays. Pam Reardon, sales director at housebuilder Barratt London, says: “Our development has seen a large influx of buyers drawn by the opportunity of growth in the area. Homes at Greenland Place offer buyers an opportunity to be part of a neighbourhood with a host of amenities on its doorstep and excellent connections into Canary Wharf, Bond Street and Bermondsey.
“Greenland Place has attracted a cross-section of buyers, and we have seen particular interest from professionals looking for a place that offers an easy route to work and a location to enjoy at weekends. There are currently a selection of one- and two-bedroom apartments available in Gothenburg Court and Malmo Tower with prices starting from £420,000 for a one-bed and £583,000 for a two-bed.”
Also in Surrey Quays is Marine Wharf East from Galliard Homes. With completion currently scheduled for winrt 2017/18, this is another apartment scheme with a mix of one-, two- and three-bedroom units over two blocks currently for sale. Those under £600,000 may be purchased with the Help to Buy London initiative, and there is an option for underground parking. Nearly every property has a balcony or terrace, with all residents benefitting from twin communal landscaped gardens and a one-minute stroll to the Thames Path. Prices currently start at £430,000.
Just south of Deptford Bridge station and 800m from New Cross is Tanners Hill, where Affinity Sutton has already sold 75% of the properties, with a choice of two- and three-bedroom apartments now available. With an open market value starting at £422,500 and £587,500 respectively, there is a current offer for a low reservation free (£500 for a two-bedroom home and £1,000 for a three-bedroom one). Available through Shared Ownership, which allows an initial purchase of as little as 25% of the property and a subsidised rent on the remainder.
Transport links from Deptford
Rail (from Deptford station)
To Cannon Street, 16 minutes
DLR (from Deptford Bridge station)
To Greenwich, 1 minute
To Lewisham, 3 minutes
To Canary Wharf, 16 minutes
To Bank, 23 minutes
To Stratford, 27 minutes
Bus (from Deptford High Street)
To Surrey Quays, 16 minutes
To Canada Water, 24 minutes
To Lewisham, 24 minutes
To London Bridge, 42 minutes