 |
WOODLEIGH-SMITH |
Alex Woodleigh-Smith, a leading London property specialist and founder of AWS Prime says the Holiday Inn development will have a 'disastrous
impact' on property values in the epicentre of the development and the 'fallout area'.
 |
NIGHTMARE |
"Whilst many will be glad to see the Holiday Inn building demolished, the proposed replacement will be even less popular. A much higher tower such as this, plus an entirely new one adjacent, would be a catastrophic blight for local residents and a dire impact on property values for those affected in the area.
Living close to a construction site of this size, with all the associated nuisance of dust, thundering lorries, and constant noise are not great inducements for buyers in an already fragile market. Purchasers will see a great opportunity to chip away at asking prices and this could result in a drop in values by anything from 15% to 30% in the worst affected cases. Whilst this may be a medium-term side effect if this scheme gets the green light the character of the area will change from a quiet and charming enclave into a 'suburb' dominated by a large and out of scale 'mega towers' development.”
My international client base wants to invest in the best areas in London and the vast majority are attracted to the picturesque streets of RBKC.
I could not encourage my clients to buy in the shadow of a building of this nature.
Woodleigh-Smith concluded by saying: "residents should be very worried about the impact on the quality of their lives and the value of their major assets"