Agency opens new branch at controversial London location

JLL today opens its eighth residential office in London, this one at at the Riverlight development in Nine Elms. 

The office, which will offer both sales and lettings services, is headed up by Helen Penfold while Daniel Turner will lead lettings. 

The agency claims it’s an exciting time for the area - the regeneration of Nine Elms is expected to create 25,000 new permanent jobs, along with 18,000 new homes, and creating a new residential neighbourhood the size of the West End. 

Embassy Gardens, the residential development built on the site adjacent to the US Embassy, is expected to see 550 new homes with Battersea Power Station bringing 1,330 new homes to the market.

However, other agents have spoken critically about the pricing and appeal of the area. 

The Financial Times recently ran a piece suggesting investor buyers in Nine Elms were flipping properties.

Ed Mead, a director of rival agency Douglas and Gordon, told the FT the Nine Elms area was “getting a bit silly” with prices “wildly out of kilter with what homes in the surrounding areas are selling for”.

Charlie Ellingworth - a partner at buying agency Property Vision - dubbed Nine Elms “Singapore-on-Thames” because of the high volume of Asian investment buyers.

The new JLL office is temporary with a larger permanent branch opening next May.