The Lanes Springfield Village: Living in London’s Largest New Park

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Hello everyone. What would it be like to live right inside London’s largest new park? Today, The Lanes, Springfield Village is what we are looking at today!

For prices, taxes and the whole buying process, see our guide: UK Property Guide

Apartment types, current price range and location: see the project page

In south west London, Barratt London a scheme developed by. The concept is this: "hybrid living", on one side a fast public transport link to central London, on the other, at your door, roughly The 32 acre Springfield Park. Four residential blocks, each arranged around its own courtyard garden, plus dokuz adet townhouse. Yes, you read that correctly: a new neighbourhood inside a park in London.

Prices

• Price range: £399,000 to £760,000
• One, two and three bedroom apartments plus three bedroom houses
• Four residential blocks and dokuz townhouse
• Completion: ready to move into from spring 2027
• Address: Lapidge Drive, Springfield Village, Wandsworth, London SW17

Barratt London, one of the largest and longest established housebuilders in the United Kingdom; the homes are NHBC Ten Year Warranty. Handover in 2027 means buying at today’s price and spreading the payments over time, and early buyers can choose the best positioned blocks and floor plans. the advantages of buying a new build home with the flexibility of a payment plan.

Why The Lanes?

A 32 acre park: a scale without equal in London: Springfield Park is the largest new park opened in London since 2012. The scheme is positioned around this park, so a "park view" is not an extra but the identity of the scheme. Housing beside a park has always carried a premium in London, and the opening of a new park on this scale is a rare event.

• Tooting Bec (Northern Line), within walking distance; 18 minutes to London Bridge
• Earlsfield railway station: direct to Waterloo
• Wandsworth Common railway station, close by
• direct link to Bank and the City on the Northern Line
• Positioned between the centres of Tooting, Earlsfield and Wandsworth

A block design with courtyard gardens: four blocks, each arranged around its own courtyard garden. That is a very different way of living from tower logic: each block forms a community of its own, children can play in the courtyard, neighbourly ties can form. And the nine townhouses offer the "house with a garden" option that is becoming steadily rarer in London.

Daily life: inside the park, beside the city

Leave the house at 8:20, take the train from Tooting Bec, be at London Bridge at 8:45. A walk in the 32 acre park at lunchtime, right at your door. In the evening the supermarket, the gym and the cafe within Springfield Village; or the award winning gastropubs of Tooting and the restaurants of Balham. At the weekend a run on Wandsworth Common, a swim at Tooting Bec Lido. You are in the liveliest corner of south west London.

The Lanes rental yield

The rental market of Springfield Village is strong: a park, a school, a supermarket and transport all together. One bedroom apartments usually let for £1,950 to £2,150, 2+1s £2,500 to £2,800, three bedroom houses £3,000 to £3,600 a month. That puts the gross rental yield in the 4.5-5% band.

Tenant profile: young professionals working in the City and at London Bridge, staff of the nearby hospital and in particular young families, for whom proximity to the park and the school is decisive. Family tenants stay a long time and the turnover rate is low. In the same residential village the Springfield Place scheme offers a return of up to 4.8%; if you would like to compare the two schemes we can help. For other high yielding areas, buy-to-let areas is worth a look.

The shared areas and the details that set The Lanes apart

• The 32 acre Springfield Park: London’s largest new park; it surrounds the scheme.
• Courtyard gardens: each of the four blocks is arranged around its own landscaped courtyard.
• Dokuz Townhouse: the house with a garden option, becoming rarer in London.
• A supermarket: within Springfield Village; no need to leave the neighbourhood for daily needs.
• Sports Hall: within the residential village.
• Kafe: a social meeting point within the scheme.
• Hybrid Living Konsepti: a design that sets fast access to the centre alongside park living.
• NHBC Ten Year Warranty: the Barratt London standard.

Energy efficiency and comfort

As a new scheme with a 2027 handover it is being built to the most current energy standards; the homes will be in the EPC B or better band. Minimum energy standards for rented homes in the United Kingdom are tightening step by step, and the home you buy today will be ready for those rules. Against Wandsworth’s Victorian building stock the difference in the bill is serious.

Who is buying?

This scheme is predominantly a young families scheme. The combination of a park, a school, a supermarket and transport offers a balance rarely found in London. Alongside them, investors who want to lock in today’s price with a 2027 handover, and buyers looking for a house with a garden among the townhouses. For international families whose children will study in London, south west London is an increasingly favoured area too.

Frequently asked questions

Is completion in 2027 not a long wait? In an off-plan purchase you spread the payments over time: reservation, a 10% deposit and the balance on handover. Your money is not tied up in full throughout that period and early buyers pick the best positioned blocks.

The Lanes mi Springfield Place mi? Both are in the same residential village. Springfield Place has completed apartments and a slightly higher return; The Lanes has a 2027 handover, is closer to the park and offers the townhouse option. We can decide together according to your goal.

What is the tenure? The apartments are leasehold, typically up to 999 years, and the townhouses are usually freehold.

What happens if completion is delayed? Barratt London is one of the largest housebuilders in the United Kingdom with a strong delivery record, and the contract carries a long stop date. Even so, you should go into an off plan purchase aware of the risk and have your solicitor review the contract.

Can I buy remotely from abroad? Yes. For the details, our remote property purchase guide page.

Can I use a mortgage? Yes, though on off plan schemes a mortgage offer is usually valid for six months, so the application is made close to completion. UK mortgages for foreign nationals sets the process out.

Total cost: what you actually pay when you buy at The Lanes

Many overseas buyers look only at the apartment price and meet a surprise at completion. Let us work out the real cost on a £399,000 apartment. Stamp duty (SDLT) in the United Kingdom is banded: 0% up to £125,000, then 2%, 5%, 10% and 12%. On top of that, non-residents pay a 2% surcharge, and if you already own another home, a further 5% additional dwelling rate applies.

With a mortgage there are also valuation and bank charges, and if you let the property, management commission and income tax. The figures above are indicative, based on a £399,000 entry price; we prepare the exact calculation for your own scenario.

The The Lanes buying process, step by step

If you are buying from another country, the process runs like this:

• 1. Choosing the apartment and reserving it. We go through the floor plans, the aspect and the view. The apartment you choose is usually held with a reservation fee of £5,000 to £10,000.
• 2. Appointing a solicitor. An independent English property solicitor (conveyancer) is appointed. That solicitor acts for you, not for the developer.
• 3. Identity and source of funds checks. You will be asked for a passport, proof of address and documents showing the source of your funds. This step is compulsory in the United Kingdom, and having the papers ready shortens the process.
• 4. Exchange of contracts and deposit. Contracts are usually exchanged within 21 days of the reservation, with a 10% deposit. The signature can be given digitally from abroad.
• 5. Stage payments. In off plan projects these follow the payment schedule; for completed apartments the step is skipped.
• 6. Completion. The remaining balance and the stamp duty are paid and the title is registered in your name. For completed apartments this stage can take four to eight weeks.

You can run the whole process from your own country; you do not have to travel to the United Kingdom.

Risks and what to watch for

We have set out the strengths; in fairness there are points to watch as well. For The Lanes, these are the ones worth pausing on:

• Off plan, completing in 2027: completion risk exists in every off plan purchase; have your solicitor review the contract.
• The residential village is still being completed: Springfield Village is developing in stages; the park and the amenities come fully into use over time.
• Zone 3 location: 18 minutes to London Bridge, but it may still feel far for anyone who wants to be central.
• A large number of apartments in the same village: together with Springfield Place there may be competition within the blocks in letting during the handover periods.

None of this makes the project a bad one, but there is a wide gap between buying with your eyes open and finding out afterwards. We give every client this list up front.

How does The Lanes compare with the alternatives?

Before you decide, it is worth looking at the other projects in the same budget band:

• Springfield Place: completed apartments in the same residential village with a 4.8% return.
• The 1840 St George's Gardens: a historic building conversion in the same area, at a more affordable entry price.
• Wimbledon Place: a boutique scale alternative in south west London with strong brand value.

We can work out together which project fits your goal, judged on budget, intended use and exit plan. For an overview, our guide to UK property investment for international buyers is worth reading too.

Answers to the most common questions on this topic: Is Buying a Home in London a Good Idea?