East London Draws Luxury Developers

LONDON — While the West End has been the traditional haunt of luxury-residential developers in London, soaring property prices have pushed companies to look east for more lucrative opportunities.

New development has been creeping along the Thames, toward the City, with large-scale residential and mixed-use projects like the Shard and NEO Bankside bringing high-end space to an area that many believe has been underperforming for too long.

“The City borders, from the South Bank to Tower Hill, are seeing interest from developers who have prime residential schemes in mind,” said Cassandra Elliot of the real estate agency Knight Frank.

Source: New York Times

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