Antony Dilieto, franchisee of Winkworth Paddington & Bayswater, explains why the area is proving to be such an attraction to homeowners, investors and tenants:

“Paddington and Bayswater as an area have historically had a lesser reputation than its neighbouring partner Notting Hill but unjustifiably so. With its central location, luscious parks, lakes and canals, ample transport links and stunning architecture, Paddington has begun to gain the reputation it deserves. With the glorious Hyde Park on its doorstep, Park Lane and Notting Hill merging seamlessly from its borders and only a short trip away from both the West End and Knightsbridge, not forgetting the luxury hotels and its historical Grade I listed railway station, this understated yet stunning area is coming into its own. W2 is fast becoming the new W1.

Over the last 12 years, Paddington and Bayswater have undergone some exciting and positive changes.  It has seen one of the biggest commercial and residential regeneration projects with the Paddington Basin and its surroundings being developed which has in turn given rise to many investment opportunities. Almost 80 acres of land is to be redeveloped into some of the most stunning commercial and residential units, incorporating thirteen different projects and spanning twenty years of construction (due to complete in 2018).

There has been a great deal of investment in transforming and rejuvenating tired buildings and restoring them to their former glory not forgetting also the investment into Paddington Station itself currently offering five underground lines, the Express train direct to and from Heathrow airport, as well as the main lines out to the West. With Cross rail’s Paddington Integrated Project in the pipeline also promising to significantly reduce journey times to the West End, Docklands and South East London as well as providing improved access to Heathrow, West London and Berkshire making Paddington just a 10 minute journey to Liverpool Street and a 17 minute journey to Canary Wharf, this inevitably has opened up the opportunity for national and international interest to invest.

The area has seen a particular increase in overseas buyers with a long term view of London property market and its capital growth potential. Investors are buying for their children rather than renting as this has become more cost effective.  With regards to the rental market, we have seen an influx of people returning to high end UK employment contracts and thus increasing demand in high quality rental stock in an exclusive part of London which offers fantastic transport links. High demand and limited supply of properties has forced rental prices to increase substantially, and a significant change has been observed on the number of tenants, be it professional or academic, UK based and overseas seeking to rent property in the area at such a late stage this year”.

If you’re looking for property to buy or rent in Paddington & Bayswater, contact Antony Dilieto at Winkworth Paddington & Bayswater on 020 7262 2900.

Westbourne Terrace, Paddington – £1,295,000

Sussex Gardens, Paddington – £795,000

Westbourne Terrace, Paddington – £450 p/w Fully furnished