Is Paddington more than a story about a bear?

Did you know Paddington Bear is nearly 60 years old? Written by Michael Bond, his story first appeared before Christmas in 1958.

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You may be surprised to learn that the  Paddington Bear toy we all know and love originated in 1972 and was created by Jeremy Clarkson’s parents! With such worldwide appeal, you might be led to believe that the Paddington story is only about a small bear from Peru.  You would be wrong.

Throughout the last decade there has been a rapid regeneration of Paddington, transforming the area from a transport hub into a lively full-time community, with a number of residential opportunities and properties for sale in Paddington. The employment scene is also booming, with many leading businesses moving to Paddington, including Vodafone, AstraZeneca, Prudential, Novotel, Marks & Spencer and Virgin Active.

Paddington estate agents Kay & Co think it’s a great place to be, so we have taken a look at Paddington’s interesting past, present and future.

Paddington’s history

For centuries Paddington was blighted by the ironic but immobilising effect of too much transport and not enough supporting development. The concentration of roads, waterways and railways leapfrogging over each other also served to cut Paddington off from the rest of the capital, deterring potential developers.

So what has changed? Since 1989 the population in London has been growing at an intense rate, which has increased pressure on the housing, retail and leisure sectors. Developers started to revisit previously overlooked areas, like Paddington and King’s Cross. The Paddington Basin Masterplan was born, designed to inject life into the former industrial neighbourhood and create 2,000,000 sq. ft. of offices, homes, shops and leisure facilities.

Paddington Property

A number of prestigious properties for sale in Paddington have spearheaded the revival, with an improved lifestyle-focused infrastructure which includes shops, office blocks, bars, restaurants and health clubs. Reflecting the importance of key workers and to create a sense of equality, there is the aim for new residential developments to offer 25% of its properties for affordable housing.

There’s a rich variety of homes for sale and properties to rent in Paddington. From traditional dwellings spanning the architectural periods of the last few centuries, - white stucco Victorian terraces and railway workers cottages to mews houses, post WWII homes and new, ultra-slick apartments within Paddington Basin, - every property taste is catered for.

Currently consultations are taking place for a 72-storey tower in Paddington, by Sellar Property Group, and if planning permission is granted it would be London’s fourth tallest residential building. The £600 million development would include luxury apartments along with offices, shops, restaurants and cafés. In addition there are also plans for a 38-storey tower on nearby Edgware Road.

House prices have rapidly increased in the area. Ten years ago the average Paddington property sold for £697,747. The average price today, according to Zoopla, is £978,428 – an increase of 40.2%.

Some interesting facts about Paddington

  • Transport links are impeccable and are set to improve with the Grade I listed station being one of the first to receive Crossrail in 2018. There are already good links to London’s Heathrow Airport via the Heathrow Express.
  • St Mary’s Hospital in Paddington has an illustrious history. It’s a renowned teaching hospital and a number of notable discoveries have been made there, such as penicillin. Princes William, Harry, George and Princess Charlotte were also born there.
  • If you live near Paddington Basin, you can enjoy living by the water. Flowing through is the Grand Union Canal, which stretches all the way to Birmingham.
  • Apart from the Royals a number of famous people were born in Paddington, including actress Emma Thompson, singers Elvis Costello and Seal, and pioneering computer scientist and mathematician, Alan Turing.

 

Kay & Co are Paddington property experts, offering the latest apartments and houses for sale in the area, as well as a bank of unrivalled local area knowledge. If you would like further information, please contact us today. And if you bring a small bear in tow, we’ll make sure we have a supply of Marmalade sandwiches at the ready!

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