With the 2012 Olympics heading east London’s way, there is a new energy in the local investment market. Johnny Turner has a look around.
Apartment 226 is a two-bedroom property located on the seventh floor of the Tasman building, part of the hugely successful Capital East dockside development.
The stunning apartment has full-height windows, a Nolte fitted kitchen, 24-hour concierge, allocated parking and with excellent road links and the Royal Victoria DLR on your doorstep, this apartment makes an ideal pied-a-terre.
Apartment 226 is priced at £389,995 and includes carpets. As an extra incentive Barratt East London is also offering stamp duty and legal fees thrown in.
Contact the sales team on 020 7476 7163 daily between 10am and 6pm. And you’d best get your skates on.
Since last July’s surprise announcement that the Olympics are to descend on London in the summer of 2012, a scramble for east London has ensued. Buyers who had been waiting for the IOC’s decision suddenly sprung into action, causing a bit of a frenzy.
In fact, the Olympics is only the latest in a series of catalysts that have put areas such as Stratford, Hackney, Bow and Bethnal Green well and truly on the property map. With proximity to both the City and Canary Wharf, as well as a general tendency towards regeneration that predated the bid campaign, these areas were always going to find an influx of buyers, both those looking for a new place to live and those eyeing a sound investment.
So now that the countdown to 2012’s big event is in full swing, what will the investment buyer find on a trip to the E-postcodes?
One good bet is Millfields, a new development of 70 apartments on the edge of the Millfields Recreation Ground in Clapton, three miles from Stratford, offers an excellent opportunity to purchase a property in an area that is sure to benefit from the planned regeneration for the 2012 Olympic Games. Additionally the development offers views over the park to 92% of apartments and makes the rare claim that those views are protected from future development.
Millfields takes its name from the park it overlooks, called Millfields Recreation Ground, and is located a short walk from Clapton station, within three miles of the Stratford Olympic site. With the planned regeneration of the area in the next six years sure to boost the local property market in Clapton, Millfields offers a perfect opportunity to purchase a new home with excellent prospects for price appreciation.
A further attraction to purchasers is that the views over the recreation ground are protected from future growth. Intro Homes is advised that to build on the Millfields recreation ground, a developer would have to win wide support from local people to the loss of playing fields. They would have to show that the playing fields were surplus to requirements or could be replaced by new land that is more accessible and better quality.
‘You can buy a home for its views over open countryside and find yourself looking out at a new housing development ten years down the line,’ explains Jon Denny, sales and marketing director of Intro Homes. ‘Not even the Green Belt is immune to new development. But the likeliness of development on the playing field is extremely low, so Millfields is a great opportunity to purchase a property with a permanent green view.’
Designed by Pollard Thomas Edwards architects, Millfields offers a selection of one, two and three bedroom apartments and provides a quality range of interior specification without sacrificing price. With prices starting from £183,995 for a one-bedroom apartment, each of the 70 apartments benefits from its own balcony or garden/terrace.
The four largest two-bedroom apartments offer spacious, loft-style interiors over an impressive 81.6m² (878 sq ft). All apartments have gas central heating and video entry phones. Kitchens offer a choice of contemporary units from Symphony, and are fully integrated with dishwasher, washer-dryer, oven, hob and extractor. The master bedrooms to 25 of the two- and three-bedroom apartments will have en suite shower rooms.
The location of Millfields will attract those who enjoy team sports and other outdoor pursuits. Football, cricket, hockey and rugby are all played on Hackney Marshes. Kingfishers, teals, tufted ducks and other migratory birds can be seen in the wildlife and conservation area of the Marshes. Pleasant walks can be taken along the River Lee, with its rare black poplar trees. Residents will also be able to take full advantage of the events during the 2012 Olympic Games.
The location is as convenient for work as for play, especially for City commuters. Clapton station is at the end of Southwold Road, the same road as the new development. The journey time into London Liverpool Street station is as little as 12 minutes. The new development also includes 20 parking spaces for those who would prefer to rely on their own car.
Prices at the Millfields apartments start from £183,995 for a one-bedroom apartment. For further information and to look around the recently opened show home contact the sales centre located off Southwold Road on 0870 445 0870 or visit introhomes.co.uk.
Savvy first-time buyers are seeking higher returns from their money and many are investing in emerging parts of the country. One such area is the Thames Gateway, which is attracting a large number of property purchasers and investors who anticipate significant capital gains on their properties as the surrounding infrastructure matures. Mario Thomas, a 32 year old electrical engineer from East London, has decided to purchase his first property in the same area for this very reason.
Despite his five older siblings having relocated to other parts of England and America, Mario has decided to stay in East London, and has bought a one bedroom apartment at The East Village, a Higgins Homes development of one and two bedroom apartments in Dagenham. ‘I wanted to buy in an area which is up and coming’, comments first time buyer Mario. ‘I have been renting for years and after deciding I finally wanted to buy a place, I moved back to my parents’ house in Dagenham three years ago in order to save up for a deposit.’
Mario continues: ‘Dagenham is still relatively undeveloped and I can get a lot more for my money. I looked at new developments and re-sale properties throughout East London and when I saw The East Village I knew I wanted to buy there.’ Mario works in Canary Wharf, and location and transport links were an important consideration in his decision to buy at The East Village which is situated near to Dagenham Heathway tube station (District Line). Monument tube station is 15 stops away, providing easy access to central London and the City, and only seven stops from West Ham tube station and its Jubilee Line tube connection.
Jeremy Marcus, sales and marketing director of Higgins Homes, comments: ‘First-time buyers are becoming more astute and demanding properties which are a good investment as well as a home. With the property market becoming more competitive, we’re finding that selecting a good area for a development is increasingly important.’
The Thames Gateway is the largest regeneration zone in Western Europe and has so far received £446 million of investment for new schools, sports facilities, business opportunities, nature parks, theatres, and sustainable transport links.
The one bedroom apartments at The East Village are situated on the top floor, providing views of the surrounding area, and many feature balconies at the front and the back of the property. The apartments include designer kitchens featuring stainless steel appliances and include an integrated fridge/freezer and a washer/dryer. A number of the two bedroom apartments also benefit from a balcony and they all include an allocated parking space.
The surrounding area includes local shops and a selection of restaurants as well as several primary schools and a doctor’s surgery. Open green space is nearby, with Pondfield Park just metres away.
Prices start from £139,995 for a one bedroom apartment and from £164,995 for a two bedroom apartment – both less 5% assisted deposit. For sales enquiries, contact Higgins Homes on telephone: 020 8517 7887
Rydon Homes is offering a very enviable lifestyle at The Nordic Apartments, a high-finish development of one- and two-bedroom apartments with great Olympic appeal, not to mention super commutability.
The homes at this development would suit either owner-occupiers or buy-to-let purchasers, given their high quality of specification and finish. Many of the apartments have spacious open-plan layouts and there are some exclusive two-bedroom penthouses with private balconies or terraces available. Located just 400 metres from the River Thames and just ten minutes from Canary Wharf, the development is in a highly convenient location.
Each apartment features a contemporary style kitchen designed with a full range of appliances such as oven, hob, hood, combi microwave, fridge freezer, dishwasher, washer dryer and waste disposal. The bathrooms have pure white sanitary ware and the luxury of heated towel rails, and there is wooden flooring to the kitchen, living area and hallways.
Shadwell’s DLR and tube stations are just 800 metres along Cable Street, putting the rest of London within easy reach. The West End is a 17-minute journey and Bank is just four minutes away. Canary Wharf is just four stops away on the DLR, and less than 20 minutes on foot via the Thames riverside walk.
The marketing suite and show home at the Nordic Apartments is open Monday to Saturday from 10am to 5pm, and at other times strictly by appointment only. Prices start at £264,950 for two-bedroom apartments. Call 020 7780 1580 or visit rydon.co.uk for information on prices and availability.
Equinox, Telford Homes’ very investor-friendly development in Island Gardens E14, is an exceptional six-storey tower and four-storey main building offering 63 private sale one - and two-bedroom apartments and penthouses.
Sheena Ellwood, sales and marketing director of Telford Homes, says: ‘Equinox provides purchasers with the opportunity to live in a highly desirable location near to both local amenities and the world-famous historic landmarks of Greenwich. The Greenwich Foot Tunnel means that residents are just a short walk away from all this cultural area has to offer, as it leads under the Thames and exits just in front of the famous tea clipper the Cutty Sark. Alternatively, for all business executives, London's business hubs of Canary Wharf and The City are very easily accessible. The development itself includes three new commercial units to add to the existing convenience shops and smaller local businesses.’
Situated at the very tip of the Isle of Dogs, the development is within easy reach of the business districts of Canary Wharf and The City of London - served by the Docklands Light Railway system, with the Island Gardens station being located directly opposite the scheme and offering direct connections to Canary Wharf (within ten minutes) and The City (within 18 minutes).
With some of the properties facing towards the historical riverfront of Greenwich, Equinox provides an attractive opportunity for all those who want to buy in a unique setting close to the River Thames.
The scheme is built to an impeccable standard typical, of Telford Homes with its high quality specification and excellent attention to detail. Some apartments benefit from open plan kitchen/living areas that extend out to spacious balconies or terraces, whilst a select few also include terraces accessible from the main bedroom.
The contemporary kitchens come complete with German Systemat units from London designer, Urban Myth and feature integrated Smeg and Siemens appliances including oven, hob, extractor hood, washer/dryer, fridge/freezer and dishwasher. All bathrooms and en suites have pure white bathroom suites by Villeroy & Boch finished with polished chrome fittings by Grohe, towel rail radiators, large tiled-in mirrors and contemporary ceramic wall and floor tiling.
Prices at Equinox start from £250,000 for a one-bedroom apartment and £340,000 for a two-bedroom apartment. For further sales information call the sales centre on 020 7537 2302 or visit telfordhomes.plc.uk.
Barratt Homes offers several schemes with good proximity to the forthcoming Olympic events. In Ilford, the developer’s development of city-style apartments at Centreway is taking shape on the site of the old shopping precinct – and sales have just topped the halfway mark.
The project is a crucial element of Redbridge Council’s Progressive Ilford regeneration programme and offers 239 one- and two-bedroom apartments in a spectacular series of buildings rising to a maximum of 16 storeys.
Having already proved popular with first-time buyers and investors alike, the development’s final release, including four stunning penthouse apartments with glorious panoramic views, is anticipated next month.
Barratt East London managing director Alastair Baird says, ‘Ilford is an outstanding residential area, convenient for living and with great potential. Property pundits have identified Ilford as an area which is on the up.’
Centreway, located in bustling Ilford High Road, features handsome city-style towers of gleaming white and blue, with contrasting balconies and steelwork. Curving elevations with triangular balconies add to the distinctive look.
The apartments will offer designer fitted kitchens complete with integrated appliances, fitted family bathrooms (and en suite shower rooms where appropriate) plus central heating, double glazing, TV, satellite and telephone points and mains-wired smoke alarms. Rooftop penthouse apartments will have terraces giving panoramic views over eastern London and metropolitan Essex.
All apartments will be accessed via audio-entry system through smart common areas served by lift. There will be private parking under the building, accessed by a ramp protected by electronically operated gates. A daytime concierge will be on hand to help with the smooth running of the development.
Centreway will also include a fitness room for residents. A private day nursery and adjoining health centre/doctor's surgery are proposed. A total of 76 of the homes at Centreway will be allocated for shared ownership occupation by local key workers such as teachers, nurses and paramedics, in partnership with East Choice Housing Association.
The development is within strolling distance of The Mall shopping centre, with its wide range of high street names and specialist shops. The town of Ilford has good schools, health and leisure amenities, including a multi-screen cinema, leisure and fitness club, the Kenneth More Theatre and the famous Valentines Park.
Prices start at £174,995 for one-bedroom apartments and £242,995 for two-bedroom apartments. Call the sales office on 020 8514 7125.
Another Barratt project in the fast-changing East End is Capital East in Docklands, where the new dockside tower has now been launched. The one-, two- and three-bedroom apartments at Sargasso Tower, right on the edge of Royal Victoria Dock, are now available off-plan.
Capital East is one of the largest single redevelopment projects in London Docklands and will eventually comprise over 700 new apartments in a series of ten ultra-modern glass-walled buildings rising to a maximum of 18 storeys. The development will eventually cover three acres of former dockside.
Homes at Capital East have fully fitted designer kitchens complete with integrated appliances, as well as fully fitted bathrooms. Many apartments have glass walls and balconies or roof terraces from which enjoy the stunning views.
The development is located adjacent to the ExCeL exhibition centre and benefits from the outstanding new transport infrastructure across Docklands. The development will eventually include restaurants, offices and retail units, as well as dockside walks and a new footbridge to Royal Victoria DLR station. Two new hotels, providing over 450 rooms, are also now completed on adjacent sites, joining several others in the area.
Currently for sale at Capital East are one-, two- and three-bedroom apartments in Sargasso Tower; one-bedroom apartments start at £289,995, while two-bedrooms are priced from £403,995 and three-bedrooms start at £484,995. The floating marketing suite and a range of new show apartments are open daily from 10am to 6pm. Call 020 7476 7163.
Walthamstow is a solid east London neighbourhood which is very well placed for the Olympic action, and Barratt’s Forest Place is set to be the premier new homes development in the area.
Forest Place is a gated development of fabulous one- and two-bedroom apartments close to Wood Street station and within easy access to Walthamstow town centre. The homes are built to a high specification to include designer fitted kitchen with oven, hob and hood, spacious living/dining room (many with balconies), master bedroom with en suite facility to many designs, private gym, concierge and landscaped gardens.
First-time buyers and renters alike like Walthamstow for its excellent transport connections, affordability and exciting future – projects like the Olympics and the mooted CrossRail service have raised E17’s profile.
Prices at Forest Place currently range from £179,995 to £228,995. Call 020 8531 5127.
The 2012 Olympics have meant areas like Tower Hamlets and Bow are expected to see a huge boost to the housing market. New residential schemes like EastSide, developed by Widacre Homes and Circle 33 Lifespace, will be situated within walking distance to the new Olympic grounds. Being one of the pioneering developments in Bow, EastSide's location offers enormous opportunities for financial growth and offers residents the chance to be part of history.
Fraser Wells, managing director of Widacre Home, says, ‘London winning the bid is fantastic and it has really kick-started the regeneration that is planned for east London. The benefits to the area are untold and Widacre Homes is incredibly proud to be part of the biggest transformation that people have ever seen. We are confident that Bow will be one of the most vibrant and desirable places to live in east London and EastSide will contribute by offering quality housing for an affordable price combined with some of the best infrastructure in London.’
EastSide is a stunning new collection of 132 apartments incorporating a mix of studio, and one- and two-bed apartments set around a piazza style garden square. Prices are currently starting at an affordable £157,500 for a studio apartment and apartments on the top floor include a large south facing terrace and boast views of Canary Wharf.
The scheme is exceptionally well situated, being just a short walk from the future site of the Olympic village and the Olympic stadium where the opening and closing ceremonies of the London 2012 Olympic Games will be held.
EastSide offers excellent transport links to Canary Wharf, central London, City Airport and major London train stations, being close to underground stations Mile End and Bow Road, as well as the DLR stop Bow Church.
The transport options will be taken to new heights when the Channel Tunnel Rail Link (CTRL) to the new Stratford International station will be completed, a new high-speed shuttle service that will take people from Central London to the Olympic Park in just seven minutes and on to continental Europe in just 45 minutes.
Other key benefits for the area from the London 2012 Olympic Games include access to new swimming, cycling and hockey facilities in Stratford (a four minute ride on the DLR from Bow Church) and the upgrading of Mile End Stadium as a practice venue for Olympic athletes.
Bow's economy is due to benefit immensely from the influx of people coming to watch the Games and thousands of new jobs, homes and businesses will be created.
The first phase at EastSide is now sold out, but the second phase has just been launched with apartments in the Soho building. Prices start from £179,950 for one-bedroom apartments and £222,000 for two-bedroom apartments. Call Strettons Residential on 020 7422 0989 or visit eastside-e3.com.