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FEC is starting work on Consort Place, a £470m development located between Canary Wharf and the Isle of Dogs. Formerly known as Alpha Square, the project will provide 495 new apartments, as well as a 231-room four-star hotel and health centre. Consort Place project director for FEC, Bruno Almeida Santos, said: “The area is known as one of London’s major financial districts and, as a developer, FEC saw scope to add to the local lifestyle by incorporating a range of on-site amenities for residents, visitors and local people. We believe that a responsible development such as this should put community at its heart to help it grow and thrive”. Work on the development, which will be spread across two tower buildings of 65 and 35 storeys, begins this month, with completion scheduled for late 2023.
Property Week (11/10/2019)
Beckton, once seen as so bleak that Stanley Kubrick used it to create scenes for Full Metal Jacket, while its gasworks were used to represent a dystopian London in the film adaptation of George Orwell’s 1984, has seen its reputation rise in the years since, benefitting from the Docklands Light Railway offering a connection to the City and beyond. Alongside the existing affordable flats, and traditional houses with gardens, are a series of new developments, including Beckton Parkside. Located on a former industrial estate, the project includes 391 apartments that integrate with an upgraded park boasting sports facilities, children’s play areas and a new woodland walk. Many of the homes, which can be had from £272,500, have sweeping views across Gallions Point Marina. Not far away, in Canning Town, Brunel Street Works offers apartments with access to podium and roof gardens. In addition to the 975 homes being built by Galliford Try Partnerships, Brunel Street Works is also set to provide 80,000 sq ft of shops, workspace and community space, as well as a 152-bedroom hotel. Four new areas of public realm will open up the site for new and existing residents to enjoy, including play areas for children. Prices there start at £375,000.
Evening Standard (11/10/2019) Property Investor Today (16/10/2019)
Property values in Britain increased 1.3% in the year to August 2019, the Office for National Statistics reported Wednesday, despite the continued uncertainty surround the UK’s departure from the European Union. The average UK house price was £235,000, up £3,000 on a year earlier. London saw prices slide 1.4% annually, closely followed by the South East where they fell 0.6%, although the areas remain the most expensive in the country to purchase a property, at an average of £473,000 and £326,000 respectively. Growth was strongest in Wales, increasing 4.5% to an average of £168,000; in Scotland they grew 1.6% to £155,000, in Northern Ireland by 3.5% to £137,000, and 1.1% in England, to £168,000.
Daily Mail (16/10/2019) City AM (16/10/2019)
The number of first-time buyers in August reached the highest level since just before the financial crisis, according to the latest mortgage trends data by UK Finance, with 35,010 mortgage completions for new buyers – an increase of 0.7% on August last year. During the month there were 18,640 new remortgages with additional borrowing, down 2.9% on 2018, while the number of remortgages without additional lending slumped 2.3% to 18,100. There were also 5,900 new buy-to-let mortgages completed, down 2.2%, while the number of mortgages handed out to second-steppers declined 5.5% to 35,380.
City AM (15/10/2019) Daily Mail (15/10/2019) The Times (15/10/2019)
London’s longest pier is currently under construction in Silvertown, just to the east of Lyle Park – an elegant wooden construction that, when complete by the end of the year, will connect the 3,385-home Royal Wharf neighbourhood to the Thames Clipper river bus route. The new pier, which replaces a long-derelict jetty, also serves as a public space and viewing platform, extending into the Thames from a riverside promenade; it is the latest element in the regeneration of the wider Royal Docks area, alongside a market square, gardens, parkland, and retail amenities. Duplexes with up to four bedrooms have been launched there by developer Ballymore Oxley, each with its own front door facing onto a communal courtyard. Prices start from £725,000.
Evening Standard (07/10/2019)
Notting Hill Genesis is offering first-time buyers the opportunity to live just 10 minutes’ walk away from Canary Wharf, at the sprawling £1bn Millharbour development. A 25% share of a one-bedroom apartment can be purchased for £121,250, rising to £166,250 for a quarter-share of a two-bed home. The apartments are located on the 17th-25th floors of the Salvor Tower, with glorious views of the docks, the Thames, and the City skyline beyond. Millharbour will eventually host more than 1,500 homes, along with shops, restaurants, a theatre, park, square and two new schools.
Evening Standard (10/10/2019)