Area in focus - Paddington

Experience the charm of Paddington: a blend of captivating history and unbeatable connectivity. Tucked away in this bustling neighbourhood lies the revitalised Paddington Basin, a hub of leisure and excitement. Merchant Square, at its core, offers an array of activities catering to locals and professionals alike.

Imagine yourself in this urban sanctuary, where the serene canal plays host to a variety of aquatic life all year round. Take a stroll and stumble upon hidden gems like Blank Street. Paddington is a haven for trendy cafes and eateries.

Here at Fraser & Co, Paddington Basin is our home turf, and we pride ourselves on being the go-to experts for all things in the area. Come join us in experiencing the perfect blend of history and modernity in the heart of the city.

Image: Mandy Haakenson

Agent’s view

Londo West End Lettings Manager Elvis Balic says:

Paddington has been catching everyone's eye lately, and it's not hard to see why. It's smack dab in the middle of everything, plus it's got this cool vibe that appeals to all sorts of people. Whether you're into trendy cafes or lush parks, Paddington's got you covered. And if you're thinking about investing, listen up: Paddington's rental market is hot, with landlords pulling in an average of 5.5% in rental yields. That's partly thanks to places like Paddington Basin, where you can chill out at the Floating Pocket Park or get involved in all sorts of activities. So, if you're looking to dive into London's property scene, Paddington might just be the place for you.

Decoding Paddington's Appeal: Insights for Renters and Buyers

In the past year, the average property price in Paddington stood at approximately £1,398,357. The predominant type of property sold in Paddington during this period was flats, which drew an average price of around £1,079,912. Terraced properties, on the other hand, fetched an average of about £3,373,738, while semi-detached properties reached an average price of approximately £8,933,333. Compared to the peak in 2019, overall sold prices in Paddington saw a 2% increase, which was £1,372,361. While the market in Paddington is far from bullish, it remains a central London hub for work and living. As of 2018, Paddington's average price per square foot stood at £1,169, which represents a discount compared to its neighbouring areas. By contrast, Bayswater recorded £1,310 per square foot, Notting Hill £1,344, and Marylebone £1,665, according to LonRes data.

The average rental yield for the area is 5.5% for landlords. This can be greatly attributed to the Paddington basin, which houses the canal, the beautiful crossway bridge, which unfurls like a fan for viewers’ delight, the arrival of the Elizabeth Line, which has improved mobility for so many commuters; and the lush greenery, rare for commercial and residential hubs in the city. Further renters looking to stay in the West End of London can enjoy access to modern amenities and fittings. Neighboring streets offer luxury abodes, but are rarely created with young professionals in mind. Access to local eateries and shops is also very attractive to renters and buyers alike.

Paddington Essentials by Fraser & Co: Our Top Recommendations

Image: Mandy Haakenson

Merchant's Square Food Trucks

If you're craving a tasty meal in Paddington, street food is the solution. Tucked away from the hustle and bustle of the city streets, Merchant's Square boasts a unique lineup of food trucks offering a variety of tempting options. From savoury Mexican burritos and flavorful Asian rice bowls to zesty Lebanese falafel and tantalising Tibetan dishes, along with classic American-style burgers and top-notch gourmet coffee, there's something to satisfy every palate.

The Cheese Barge

All aboard The Cheese Barge – a 96ft double decker vessel moored on The Regent’s Canal. The Cheese Bar is dedicated to championing British cheese. It's the only fully cheese-focused restaurant in London. The Cheese Barge in Paddington Central is the newest addition to The Cheese Bar's chain of restaurants. All dishes are freshly made with locally sourced ingredients, and each contains at least one British cheese. Wash it all down with a range of small producers & natural wines, and London craft beer, spirits, and cocktails. The perfect cheesy delight to enjoy canal views and indulge yourself.

Heist Bank

Nestled within the vibrant ambience of Merchant Square, Heist Bank proudly proclaims itself as a haven for adults seeking playful delights. Whether you're enticed by the captivating art adorning its walls, the nostalgic charm of vintage video games like the classic Nintendo 64, or the irresistible combination of mouthwatering pizza and refreshing draft beer, you're guaranteed to find yourself beaming from ear to ear moments after stepping through its doors. But wait, there's more—brace yourself for exhilarating karaoke sessions and DJ vinyl nights that promise to take your experience to new heights of enjoyment.

With its abundance of cosy nooks and inviting private crannies, Heist Bank provides the perfect backdrop for group gatherings and intimate conversations alike. While walk-ins are welcome if space permits, the bustling atmosphere means it's often best to secure your spot by making a reservation in advance, ensuring you can fully immerse yourself in the excitement that awaits at this lively hotspot.

Puppet Theatre Barge in Little Venice

Set sail on a unique theatrical experience at the Puppet Theatre Barge in Little Venice. This charming venue, housed within a converted barge, has been enchanting audiences with magical puppet shows for over 40 years. Step aboard, leave the real world behind and immerse yourself in a world of wonder where puppets from around the globe come to life. With its intimate setting and captivating performances, the Puppet Theatre Barge is a must-visit destination for all ages.

Paddington Basin and the Floating Pocket Park

The Floating Pocket Park is in Paddington Basin, where glass reflects light from every angle, creating a mesmerising ambience along the canal. This pedestrian-friendly area seamlessly blends office spaces, residential buildings, restaurants, and recreational amenities, fostering a dynamic community environment.
Witness the ingenuity of engineering with the Rolling Bridge and Fan Bridge, marvels that elegantly roll and fold to accommodate passing boats, adding a touch of spectacle to the waterfront scene. As you stroll towards the basin's end, discover the Floating Pocket Park, a tranquil oasis offering a variety of entertainment options. From outdoor film screenings to live music performances and a floating gin bar in the summer, there's always something exciting happening at this unique urban retreat.

Transport

With seamless connections to Heathrow, London, and beyond, Paddington Square emerges as a global nexus and a doorway to worldwide destinations.
When Paddington Station was first unveiled by Isambard Kingdom Brunel, it was celebrated as a pioneering endeavour far ahead of its time. Today, 150 years later, it continues to symbolise innovation and advancement.

National railway connections, the Elizabeth Line, Heathrow Express, and four underground lines ensure unparalleled transportation access. Moreover, Paddington stands as London's exclusive station, offering direct entry to all major terminals in the capital.

Paddington Square not only capitalises on this existing infrastructure but also enhances it, providing smooth, integrated station access and introducing a new Bakerloo line ticket hall. This marks a significant milestone in Paddington's transport evolution, signalling a new era of connectivity.

This progress not only facilitates access to global talent but also reduces commute times, promoting a more balanced work-life dynamic. And with regional trains servicing the south and west of the country, swift links to Heathrow Airport, and a network of tube lines spanning the city, navigating Paddington and beyond is effortlessly convenient. Additionally, the Elizabeth Line, completed in 2022, will provide direct access to key destinations: Central London’s Bond Street in just three minutes, Liverpool Street Station in 11 minutes, and Canary Wharf in 18 minutes.

Guide to Property Licensing in England | Fraser & Co Estate Agents

Guide to Property Licensing in England | Fraser & Co Estate Agents

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