Pete Wargent blogspot

CEO AllenWargent Property Buyers, & WargentAdvisory (institutional). 6 x finance author.

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Sunday, 8 November 2015



An area of London that so many Aussies are familiar with, largely because of its nearness to Australia House and the High Commission, as well as being close to Trafalgar Square, a popular New Year's Eve haunt (or, just as realistically these days, the Walkabout pub at Temple).

In fact, it was in this part of the world that I gained my first experience to the phenomenal cohort that is the Aussie backpacker, a seemingly endless supply of them prepared to pull pints for a pittance in the proximate Wellington exchange for 'cheap' accommodation upstairs. 

Probably doesn't happen today, of course, and in any case the once strong pound sterling is no longer the drawcard for Aussie expats that it once was.

Like much of central London, the Strand and WC2 is very much an upmarket location in 2015.

The loosely defined area between the West End and City hubs now expertly rebranded as "midtown" has become something a destination in its own right, with property prices showing very strong gains through 2014.

Dwelling supply fail

Britain's epic failure to build enough homes is quite rightly attracting reams of press in the UK at the moment as dwelling prices have spiralled. 

The projected supply shortage is nothing short of frightening, with dwelling completions tracking at only a fraction of the required number, while the average house price in London has continued to rise to £500,000.

I took a couple of photos below of progress on the new St. Edward by Berkeley development at 190 Strand.

Convenient for the Tube (Temple), the City, midtown entertainment and the river, Theatreland, and indeed, the good old Wellington pub itself, the new project will come with a price tag to match.

Entry prices start at £1,465,000 (A$3.14 million) up to £9,512,500 (A$20.4 million) at the penthouse end of the range.