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Movement of London executives creates new residential hubs

Central London estate agents are recognising an almost two-tier residential property market emerging in the capital. Executives, bankers and traders - traditionally the heartbeat of the buying and selling property market in central London - have found themselves displaced by billionaires and investors from Russia, China and the Middle East, squeezing them out of favoured neighbourhoods such as Mayfair and Knightsbridge. New centres of property excellence are developing as a result, with affluent professionals looking to remain in the capital for both work and pleasure. Winkworth expects to represent many more properties for sale in central London closer to the Square Mile and around Old Street - areas that represent thriving finance and technology industries. In fact, there are signs that a more prominent residential element is creeping into the Square Mile itself - with a reputed 842 units already underway. Old Street and Clerkenwell have become the bridge between the existing financial district and east London - with a number of media, design, software and architectural firms choosing the area as their base. As a result of the increased employment opportunities, more than 2,000 apartments are under construction or are in the planning around what is now known as the Silicon Roundabout. In Clerkenwell, ambitious house building plans are already underway, with soaring towers like The Eagle - an Art Deco inspired development set over 26 floors and designed by award-winning architects Terry Farrell & Partners - attracting buyers who would have once bought in Hyde Park or Little Venice. While the City lends itself to cloud-shrouded skyscrapers and glossy penthouses, there is a secondary band of buyers looking at central London flats for sale with convenience at the forefront of their minds. More modest apartments with a porter service and secure parking are favoured among professionals who like to walk to their office and those living in London on a Monday to Friday-only basis. With long working hours and a host of bars and restaurants now catering for professionals in an area once devoid of nightlife, the ability to walk home rather than Tube it to the West End is growing in appeal. If you would like our latest selection of houses and flats for sale in central London, especially those in Clerkenwell, Barbican and in the Square Mile itself, contact Winkworth today.

Central London estate agents are recognising an almost two-tier residential property market emerging in the capital. Executives, bankers and traders - traditionally the heartbeat of the buying and selling property market in central London - have found themselves displaced by billionaires and investors from Russia, China and the Middle East, squeezing them out of favoured neighbourhoods such as Mayfair and Knightsbridge.

New centres of property excellence are developing as a result, with affluent professionals looking to remain in the capital for both work and pleasure. Winkworth expects to represent many more properties for sale in central London closer to the Square Mile and around Old Street - areas that represent thriving finance and technology industries. In fact, there are signs that a more prominent residential element is creeping into the Square Mile itself - with a reputed 842 units already underway.

Old Street and Clerkenwell have become the bridge between the existing financial district and east London - with a number of media, design, software and architectural firms choosing the area as their base. As a result of the increased employment opportunities, more than 2,000 apartments are under construction or are in the planning around what is now known as the Silicon Roundabout. In Clerkenwell, ambitious house building plans are already underway, with soaring towers like The Eagle - an Art Deco inspired development set over 26 floors and designed by award-winning architects Terry Farrell & Partners - attracting buyers who would have once bought in Hyde Park or Little Venice.

While the City lends itself to cloud-shrouded skyscrapers and glossy penthouses, there is a secondary band of buyers looking at central London flats for sale with convenience at the forefront of their minds. More modest apartments with a porter service and secure parking are favoured among professionals who like to walk to their office and those living in London on a Monday to Friday-only basis. With long working hours and a host of bars and restaurants now catering for professionals in an area once devoid of nightlife, the ability to walk home rather than Tube it to the West End is growing in appeal.

If you would like our latest selection of houses and flats for sale in central London, especially those in Clerkenwell, Barbican and in the Square Mile itself, contact Winkworth today.

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