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Faversham Creek houses attracting London buyers priced out of city

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A luxury development overlooking Faversham Creek is catching the eye of property-hunters from London who have been priced out of living by the Thames.

Construction of the 10 four-bedroom homes at Abbey Wharf, metres away from Standard Quay, is approaching completion, with developers expecting the first batch to be moved into next month.

Luxury terraced houses nearing completion along Faversham Creek
Luxury terraced houses nearing completion along Faversham Creek

The townhouses on the site – which used to be an oil depot – have been marketed for as much as £850,000 by Foundation Estate Agents.

The firm’s head of land and new homes, Martin Randall, says the development will transform what was an eyesore into “something quite spectacular”.

“When you look at what was there beforehand, it was an old fuel depot that was waste ground which was doing nothing on a prime location on the quay,” he said.

“We’ve been inundated with enquiries since we launched them.

“Some of them are living in the city at the moment, and if you’re going to be buying a property in Canary Wharf, you’re going to be paying double the price, minimum.

The old oil depot next to Faversham Creek
The old oil depot next to Faversham Creek

“In the areas they’re coming from, their properties are a lot smaller but are selling for far more money than they would do here.”

The project received the green light from Swale Borough Council in 2018, two years after plans were first unveiled.

House-builder Michael White expects the work to be complete in June. He says they will all be equipped with en-suite bathrooms and balconies overlooking the Creek.

Mr Randall added: “Most projects, especially in the current climate, overrun because of issues with materials, Covid, contractors and petrol and diesel shortages.

“But they’re rocketing along here and the first units will be complete by the end of May, early June.

Martin Randall of Foundation Estate Agents
Martin Randall of Foundation Estate Agents

“Faversham itself is bringing loads of people to the area with its ongoing builds. It’s bringing fresh blood into the area.”

Mr White also runs Hernhill pub the Red Lion, which he put on the market for just under £1 million towards the end of last year.

The Grade II-listed, 13th Century inn is currently under offer, with the owner expecting to complete the sale by June.

“It’s a very, very busy pub. There were a number of interested parties, but it is going through,” he added.

“The potential owners hope to carry it on the way it’s been run.”

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