If peaceful revolutions are always known by a colour, this one’s grey with chic highlights. As The Times revealed recently, the pensioner pound is snapping up new-build flats that developers initially targeted at first-time buyers and buy-to-let investors. Today’s mortgage-free retirees are unaffected by draconian lending conditions and are more socially active than previous generations. Life in an Eastbourne bungalow holds little appeal compared with a new citycentre apartment with all the benefits of security, low maintenance and easy access to the theatre and shops. Here are some of the best investments in London for the roving retiree.

Bridges Wharf, Battersea, SW11

The view of the flickering lights of Wandsworth Bridge at night, reflected in the shimmering Thames, bumps up the price tag on this luxury development on the Battersea riverbank. There are 90 apartments on the market, with one-bedrooms from £375,000 (43sq ft) and two-bedrooms from £475,000 (840sq ft). “The view is absolutely awesome,” says Charles Evans (pictured), 60, a retired management consultant, who bought a flat in June with his wife Susie. He paid £850,000 for a two-bedroom apartment to use as a pied-à-terre, away from the couple’s four-bedroom townhouse on the Isle of Wight.

weston-homes.com/bridgeswharf 0845 6385005

Hooper’s Yard, Whitechapel, E1

On the edge of the Square Mile, this stylish development is all about location. The immediate vicinity is an uninspiring collection of narrow streets, dwarfed by converted warehouses. However, a ten-minute walk to the south takes you to Tower Bridge, while ten minutes to the north is bohemian Brick Lane.

All but two of the 45 sleek, minimalist apartments have sold. There is a two-bedroom flat with patio still available for £580,000, and a penthouse with a balcony and two terraces for £875,000. Although the interior specification is high, the flats are small; the two-bed is 715sq ft and the penthouse 984sq ft. The views are not great either, looking out on to the courtyard and other developments. It’s the location that counts here.

cityquarter.co.uk 020-3217 1000

Ability Place, Canary Wharf, E14

This steel and glass leviathan on the edge of Canary Wharf has fallen victim to the banking crisis. Individual investors paid deposits at the height of the market, but when Lehman Brothers collapsed they failed to complete. Many new flats have come back on the market and there are about 200 itching to be bought. Prices are mid-range, reflecting the apartments’ marble floors and riverside views, with one-bedrooms from £256,000 (500sq ft) and two-bedrooms from £336,000 (850sq ft). Attractions include strolls along the riverfront and Gordon Ramsay’s restaurant, the Narrow, with views of Canary Wharf.

abilityplace.co.uk 020-7993 7395

The Academy, Kilburn, NW6

A mixture of new and old, this Edwardian college conversion, with high ceilings and tall windows, has two remaining flats for sale under the Government’s HomeBuy Direct shared equity scheme. The stone staircase in the main building promises a Hogwarts interior replete with mahogany panelling, but behind the red brick façade, the refurbishment is modern. The one-bedroom flats for sale are in the adjoining newly built cube of 20 apartments; the ceilings are not as high but the windows match their period neighbours.

At £272,950 each (480sq ft), you are paying for proximity to Hampstead. Under the the HomeBuy Direct scheme, the buyer is given an equity loan of 30 per cent, so the price can be reduced to £191,065.

crestnicholson.com/theacademy 0870 7550834

Queen Mary’s Gate, South Woodford, E18

This cheapish development is in the heart of an affluent northeast suburb that is home to an increasing number of Premier League footballers, attracted by the high standard of living and nearby motorway links to the M25. Some have bought at Queen Mary’s Gate where even the penthouses fetch only £500,000. For those not on a footballer’s salary, there are 18 one and two-bedroom flats available, priced at £197,000 (768sq ft) and £250,000 (487sq ft) respectively. Liverpool Street station is about 20 minutes away by Tube.

telfordhomes.plc.uk 020-8506 1955

Waterside Park, West Drayton, UB7

This manicured housing estate on the western tip of the capital borders 12 acres of greenbelt land. The affordable flats in these modest four-storey, red brick and pastel weatherboard blocks have proved popular with young couples. Sold signs have gone up on the lawns of 210 properties so far, out of 218 that launched in 2007.

The only apartment not under offer is a 691sq ft two-bedroom flat at a reasonable £194,995. For those with a bigger budget, there are seven three and four-bedroom houses available from £294,995 to £314,995. The development borders the picturesque Grand Union Canal, and trains to Paddington take 25 minutes.

georgewimpey.co.uk 0845 0265011

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