Deriving its name from the bowed bridge built in the area in the early 12th century, Bow is a district in the London Borough of Tower Hamlets in East London. Formerly a part of Stratford, the area spans from Mace Street to Bow Common and from Mile End and Bethnal Green to Stratford with its district centre being Roman Road Market.
As a part of East London, Bow is an urban residential area that is located adjacent to the Queen Elizabeth Olympic Park and a section of the district is part of the park. Prior to the staging of the 2012 Olympic Games, Bow underwent extensive regeneration which included the improvement of the council homes situated in the area. In fact, few areas in London have seen such a massive change in the demographics of the area in recent years as Bow.
The gentrification in Bow has attracted several trendy independent businesses, coffee shops, wine bars and restaurants. As it is ideally located for commuting to business hubs such as central London and Canary Wharf, it has also attracted a lot of young professionals looking for an alternative to the exorbitant inner-city property prices. The influx of younger generation buyers and tenants to Bow has meant that several new housing developments have had to be built to keep up with the growing demand. As a result, new build towers now dominate the area around Devons Road DLR, and older buildings such as the hospital and several schools have also been upgraded.
Highlights and Attractions
There are several aspects that have made Bow popular among buyers, such as the 86- hectare Victoria Park, which stretches across the borough of Tower Hamlets. An oasis and refuge from the urban hustle and bustle, the park features two lakes, a boating pond and play area curated by the V&A Museum of Childhood. In the warmer seasons, the park plays host to several music festivals and is a hive of local activity. Other attractions include the Three Mills Studios, former working mills converted into film studios and rehearsal space for many West End musicals. Art lovers will enjoy the Nunnery Gallery, as well as the Chisenhale Gallery, a contemporary art space that hosts five big exhibitions a year, as well as screenings and talks.
Bow is well connected to all parts of London with the Docklands Light Railway station, and tube stations to both the District Line and the Central Line to Stratford and Canary Wharf. The closest underground station is Bow Road, which is on the District and Hammersmith & City lines. Travel time from Bow to Liverpool Street is around 8 minutes, while travel time to Canary Wharf is approximately 16 minutes.
According to Land Registry, the average second-hand property price came down by around 4.6 per cent in 2018, making Bow an affordable option for young executives wanting to get into the market. A one-bedroom property in Bow costs around £360,000, with a four-bedroom property in the region of £890,000. The average home in the area costs around £430,000, with the average rental at approximately £1,700 per month, both of which are around a third cheaper than the average in London.
This relative affordability and high demand from first-time buyers mean that it’s a good place for buy-to-let landlords to look at in expectation of a return to price growth once all this political uncertainty is out of the way. “For me, Bow is a great area to invest in as the medium-term capital growth potential is a given,” says Reuben John, Managing Director of .
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