Buying 1 bedroom flat at Bermondsey Spa

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MC
Saturday 29 December 2012 4.38pm
Hello there,
My husband and I are looking to buy a one bedroom flat at the Parker Building just off Jamaica and Abbey Road in Bermondsey. We are currently renting just off Tooley Street and have a few niggling concerns before we purchase and would appreciate feedback on this...
1. Safety and overall feel of the area as we have heard mixed messages.
2. Regeneration of the Bermondsey Spa area - any updates as we can't find info on the Southwark Council website
3. SE16 postcode - it's a huge investment and we wanted to check if it really matters what postcode you end up with ie SE1 vs SE16
Thanks!
MC
Saturday 29 December 2012 5.02pm
SE1 and SE16 were probably considered as much of a muchness years ago, SE16 may have been considered as a tad lower down the scale when the docks were all working, rough dockers, drunken sailors etc.
SE1 was no doubt perceived as attractive when the LDDC began the period of overseeing the gentrification and re-development of Thames-side warehouses.
City workers had the opportunity to buy river view flats, and even walk to work. Denizens of SE1 MAY feel socially superior to their counterparts in SE16, but as a long time resident in SE16 I know that there is no real basis for them to feel that way. The biggest difference between the two post codes is that there is more local authority housing in SE16 I guess, and that SE1 is geographically closer to the centre of London.
Zoe
Saturday 29 December 2012 9.57pm
I'm not sure there is actually more social housing in SE1 than SE16 (though that really shouldn't be a major concern when buying a flat, it's the immediate area and the flat that matters there). SE1 have the Rockingham and Tabard estates, two of the biggest. I am sure I read that Borough and Bankside has the second largest amount of council housing after Walworth.

I know a few people who live round there in council blocks and they have never complained about things like crime. As mainly SE1-ers we are likely to think that SE1 is better, but there really isn't much in it and that bit is almost SE1 anyway!
Saturday 29 December 2012 10.56pm
I think SE16 is as safe as SE1 and that is pretty safe. I live in SE1 but am not far from SE16 and I see no reason to not to buy there.
The Bermondsey Spa is a very nice area with the satellite Maltby Street markets and the Biscuit Factory is becoming a destination. Rotherhithe is one of the loveliest riverside neighbourhoods in London. Canada Water very convenient for shopping and transportation- what more do you want?

The trend in London is that everything is moving east- north and south of the river. SE16 seems therefore a sensible place to invest in property. But, the most important question is whether you feel you can be happy there- and that only you can answer.
Sunday 30 December 2012 12.06am
Zoe may well be right in thinking that there may be a slightly larger amount of council accommodation in SE1, or at least roughly equal to SE16.
She is also right in saying that the proximity of community housing should not be a factor in deciding whether to move to an area or not.
Unfortunately there is still a lingering, although I feel that it has dissipated somewhat, attitude of "them and us" from people who fear that their investment will reduce in value if it is in proximity to blocks of council flats.
MC
Sunday 30 December 2012 1.50am
Thanks everyone who has answered so far.
We are not being snobbish about the post code as we have only just moved from Australia so just trying to get a feel for things.
Would love to hear more about the regeneration plans the council and developer have for the area.
MC
Sunday 30 December 2012 9.38am
SE16 is perfectly safe. The people are good, honest, folk regardless of whether they live in council housing.

Debrajoan wrote:
Unfortunately there is still a lingering, although I feel that it has dissipated somewhat, attitude of "them and us" from people who fear that their investment will reduce in value if it is in proximity to blocks of council flats.

There'd be nowhere for anyone to buy then! Even the most exclusive abodes in London are surrounded by peasants in council housing. Perhaps to protect your investment and your obvious intolerance to such peasants, the only solution might be to reinvest in safer markets, where there is no social housing. Do you know YNB79 by any chance?
Sunday 30 December 2012 1.19pm
I live in bermondsey spa. I moved off tooley st in 2009 to live here. It is as safe as there, nicely quieter, though don't walk around with an iPhone out at night. Saying you live in se16 has no kudos with certain people compared to se1 if that is what you care about. A flat the other side of tower bridge road comparable size is 200k more though. Management fees oscillate widely year on year same as other developments. There is heaps of regeneration just walking around grange road and grange walk demonstrates this...
Sunday 30 December 2012 1.36pm
Gavin Smith wrote:

Debrajoan wrote:
Unfortunately there is still a lingering, although I feel that it has dissipated somewhat, attitude of "them and us" from people who fear that their investment will reduce in value if it is in proximity to blocks of council flats.

There'd be nowhere for anyone to buy then! Even the most exclusive abodes in London are surrounded by peasants in council housing. Perhaps to protect your investment and your obvious intolerance to such peasants, the only solution might be to reinvest in safer markets, where there is no social housing. Do you know YNB79 by any chance?

Gavin, I said that there is still a lingering doubt, I didn't say that it exists with me.
Where do you get my, "obvious intolerance" from?
I lived in a council flat before I got on the property ladder, I still have friends and relatives who do so too. I never saw either of the two houses that I bought and lived in as investments, sure, the first one increased in value, which gave me the wherewithal to buy the one I live in now, but I did not buy the first one with that in mind. There is a council block some fifty metres from my house, as far as I can see the tenants are just like myself and my immediate neighbours, they just want to live their lives, put food on the table and enjoy that life.
Finally, no, to the best of my knowledge I do not know YNB79.
Sunday 30 December 2012 2.50pm
BTW if you are from oz, you probavly arent aware of the generification that happened in angel. Here there was an upper street versus the poorer essex road that people were snooty about. A few years on they are equally as expensive! I used to live just off upper street and a chap once turned his nose up at me and now that house is 1.5 million plus, saying that angel is utterly sterile now compared to what it once was, used to be full of cool antiques shops and independents and now has five Starbucks in less tahn a mile! Fundamentally this is a fantastic area full of friendly locals who have lived here for generations. There are some scally kids and plenty of phone nicking but equally i have never had nicer conversations with strangers than i have with some local bermondsey "yoof"
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