“I live by the river”, snarled Joe Strummer in The Clash’s politically charged 1979 punk anthem London Calling.
That rant about nuclear war, ecological disaster and even "phoney Beatlemania" has endured for more than five decades, transforming into a defining battle cry for the city, its resilience and energy.
Life by the Thames has also changed beyond recognition in that time, as regeneration schemes, international investment and architectural ingenuity have replaced drab warehouses and disused factories with modern apartment blocks, glass edifices and new communities.
There are several dozen riverbank property developments currently under way in the 18.5km stretch from Hammersmith in the west to City Airport in the east, either in the planning stage, under construction or recently completed. They range from minor housing blocks to mega-regeneration zones, from social housing to the sort of figures only the seriously wealthy can afford.
There are also period properties to be found, even if they are few and far between.
New or old, riverside properties are likely to come with a premium due to their scarcity.
Jon Hughes, development and investment director at estate agent Dexters, said the sites are rare to the market.
“When they do become available, they are purchased almost immediately,” he said. “The scarcity of this land adds to its value. A well-designed riverside residence offers a genuinely unique opportunity, combining the convenience of London with a location that will always be coveted. Buyers are prepared to pay a premium for a new-build apartment with outstanding views and direct access to the Thames Path, with additional benefits such as luxury interiors or on-site facilities increasing demand further.”
Will Watson, head of The Buying Solution, said even though the Thames is one of London’s most defining features, only around 1 per cent of Londoners are fortunate enough to live directly beside the water, “making genuine riverside homes a highly sought-after and inherently limited asset”.
He told The National: “While premiums vary by location, property quality and accessibility, waterside homes in some of London’s most desirable can command a 10–20 per cent uplift over comparable inland properties, reflecting both their rarity and enduring appeal.”
Part of the transformation, which began in the early 1980s with the creation of the Canary Wharf financial district in the old docklands, comes down to transport.
Becky Fatemi, executive partner at UK Sotheby’s International Realty, said: “Waterside living becomes more powerful as lifestyles shift.
“In recent years, it’s easy to underestimate just how much the river taxis have changed the way people use the Thames. Historically, the Thames was London’s main artery, and that’s coming back. It’s no longer just something to look at, it’s a genuinely viable way to move across the city.”
She said Thames Clipper boats offer a far more enjoyable alternative to the Tube when returning home from work.
“What really sells it, though, is the atmosphere. In a city that can feel fast and relentless, being next to the Thames brings light, movement and a sense of calm you simply can’t replicate. Often, buyers hadn’t even considered the river, but the moment they see it, everything else falls away.”
There are a multitude of developments under way, many with Middle East involvement, including:
- Thameside West: At least 5,000 homes at the western end of Royal Docks on a space twice the size of Hudson Yards in New York. Central London’s longest stretch of undeveloped riverfront. Construction by UAE-owned developer Arada on the £2.5 billon ($3.35 billion) project begins next year
- Westminster Tower: Redevelopment of a 1980s office building near Lambeth Bridge into a 17-storey luxury residential tower, featuring 28 high-specification apartments including two penthouses. Developed by London Square, which is part of UAE-based investor Aldar. The company also has a development at Ransomes Wharf in Battersea
- River Park Tower: Part of the Nine Elms development in Battersea, which saw the defunct power station brought alive as a giant retail centre and residential complex. The interior architecture of the 57-storey building is by Hirsch Bender Associates, which worked on the Atlantis Royal in Dubai
- Thames City: Also part of the Nine Elms development, 1,400 homes will help shape the new neighbourhood around Linear Park, near the Damac Tower by Dubai developer Damac Properties
- Seven at South Bank Place: Part of a £1 billion project of homes, shops, restaurants and offices surrounding the Shell Tower on the South Bank next to Royal Festival Hall. Built by Qatari Diar and Canary Wharf Group to blend in with the brutalist design of the former Festival of Britain site
- Opus: Due for completion early next year, Native Land's 50-storey £2.5 billion development on the South Bank features a padel court and podcast studio.
What makes developments such as these so appealing?
Adam Lawrence, chief executive of London Square, said London is fortunate to be one of the greenest and most water-rich global cities, “yet riverside homes remain exceptionally rare, with only a fraction of Londoners living on the Thames”.
He added: “That rarity underpins both the lifestyle appeal and the long-term value of waterfront homes.”
Mr Watson said: “Unlike inland properties, where views can often be compromised by neighbouring buildings, water provides a protected vista and a greater sense of openness, something that becomes increasingly valuable in a densely populated city.”
Prime riverside specialist agent Jon Byers, founder of Anderson Rose, says as far as statement addresses in London go, the riverside is second only to the postcodes of Mayfair and Belgravia.
“The appeal of owning real estate with views on to the River Thames, or with easy access to the riverfront, is significant,” he said. “It is a key reason the majority of London’s current major developments or regeneration projects are happening on the waterfront – along the South Bank, in Battersea, Canary Wharf and so on. Even in a slower market the demand is there from domestic and international buyers and this isn’t likely to change in the near future.”
Alongside the prestige and the views is the culture.
“Areas such as Bankside and the South Bank provide a plethora of culture highlights from The Globe and Tate Modern to the Royal Festival Hall, while there is a real creative scene that creates a fantastic atmosphere and buzz throughout the day,” he said.
“In Tower Bridge, Shad Thames offers a look into London’s shipping and commercial history, with converted warehouse apartments that look on to cobbled streets and across the river on to the City. Canary Wharf is the financial heart of the city and has real city vibe by the water. Variety is what drives demand.”
Each stretch of the Thames offers its own distinct character, ranging from the skyscrapers in the financial district of Canary Wharf and the industrial heritage of Battersea Power Station, to the green spaces around new development Herland Gardens at Hurlingham Waterfront next to Wandsworth Bridge, before heading on to the gentler pace upstream of period houses and rowing clubs at Hammersmith, Putney, Barnes and Richmond.
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In Chelsea, west London, a six-bedroom £7.95 million townhouse is currently for sale on Cheyne Walk. All photos: Maison -
The house on Cheyne Walk -
A living area -
A bedroom -
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The outdoor space
Richmond-upon-Thames was recently named the best place to live in London. “The combination of a riverside setting with exceptional schools, green open spaces and village-like charm is pretty unique,” said Mr Watson.
Retaining charm, rather than simply amenities, is part of the value of period properties.
In Chelsea, a six-bedroom £7.95 million townhouse is currently for sale on Cheyne Walk, the historic road running parallel to the river where most of the houses were built in the early 18th century. Residents of the road over the years read like a list from autobiographical bible Who’s Who: Rolling Stones Mick Jagger, Ronnie Wood and Keith Richards, author George Eliot, former New York mayor Michael Bloomberg, former prime minister David Lloyd George, novelist Elizabeth Gaskell, engineer Isambard Kingdom Brunel, poet TS Eliot and footballer Sol Campbell.
To the east is Dockmaster’s House at St Katharine Dock near Tower Bridge, which is for sale at £15 million.
Sometimes described as the “prettiest country house in the heart of London”, the Grade II listed home dates back to 1827 and was designed by Philip Hardwick, known for London Euston’s Doric Arch and Goldsmiths’ Hall in the City of London. It has been combined with the adjacent toll house sand folly.
Its owners, Viscountess Cobham and her husband David Mellor, the former MP, carried out significant changes to the property,
Lady Cobham said of her home of 30 years: “Every decision we made for this house was guided by a vision and understanding of a true English country house but set in the heart of London. We wanted it to be elegant and welcoming, a house with beauty and a sense of occasion but also the warmth, privacy and comfort of a home designed to be lived in, as well as admired.
“It became a place where we could live with real privacy and calm in very hectic lives, yet still enjoy city life and the pageantry of the Thames. We have had front row seats for so many memorable moments in London, while always retaining the sense that we had created a world of our own in the city. That is what gives this house its character and makes it unlike any other.”
So, who is likely to buy such properties?
Samuel Richardson, head of sales in Mayfair at Carter Jonas said: “It’s no surprise that London continues to hold such a strong appeal for international buyers. Few cities in the world offer the same richness in history and culture while also providing the connectivity and the wealth of lifestyle options that combine to make it such a natural long-term base.
“That is part of what gives Prime Central London property enduring appeal for international buyers.”
There is always an opposing view, however.
“What is absolutely clear, however, is that many buyers at this level are increasingly motivated by character and lifestyle potential rather than by postcode alone,” he said.
That sentiment is echoed by Camilla Dell, managing partner at buying agent Black Brick.
She told The National she believes riverside developments in London “have had their day”.
“There was a time they were hugely popular – so popular that main estate agents such as Knight Frank and Savills set up dedicated ‘Riverside’ sales teams/offices,” she said. “It’s a telling sign that both these riverside offices have now shut. Many of the developments are now very dated and are also isolated.
“Most buyers tend to prefer to be closer into Central London with ability to easily walk to a great high street. The exception is Battersea Power Station which has totally transformed the area and created a lively new public realm.”
It seems for some people the allure of the river may only stretch so far. If the property is not top drawer, there are plenty of other options.
