Pontoon Dock Archives

February 21, 2025

The Silverton offers shared ownership apartments through Aster

Royal Docks development near Pontoon Dock DLR in east London has affordable homes on sale

An artist's impression of The Silverton in Royal Docks - image by Aster Group — An artist’s impression of The Silverton in Royal Docks – image by Aster Group

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Regular readers of Wharf Life will already be familiar with Fairview New Homes’ development The Silverton in Royal Docks.

But aside from the private sale properties available, there is another way to buy an apartment at the project.

tell me more

Housing association Aster Group is marketing a selection of homes at The Silverton for purchase via shared ownership.

about the partner

Aster provides affordable housing across the south of England and in London.

Established in 1990 it has around £2.4billion of social housing assets, owning and maintaining some 37,000 properties.

The group reinvests profits from private sale and shared ownership to support the development of affordable homes, delivering hundreds to the market each year.

It currently has shared ownership homes on offer in 12 counties, with new and nearly new properties available.

what are they selling here?

A collection of shared ownership properties at The Silverton, ranging in size from one to three bedrooms.

Prices start at £88,750 for a 25% share of a one-bed, based on a full market value of £355,000.

For those able to secure a 95% mortgage, that could mean a deposit of £4,438 would be enough to make a purchase.

they say…

Amy Nettleton, Aster Group assistant development director sales and marketing, said: “We are thrilled to offer shared ownership homes at The Silverton, a prime location with fantastic commuter links.

“This development provides an incredible opportunity for many who might have thought home buying in such a vibrant area was out of reach.

“It’s exciting to see how shared ownership can open doors to the property ladder for so many.”

the area

The Silverton is within easy walking distance of Pontoon Dock DLR, offering direct connections to Woolwich, Canary Wharf and the City.

Located to the south of the Royal Docks, the area is going through extensive regeneration at present.

Further schemes will be built along the Thames, adding to Royal Wharf and Riverscape, while a massive new residential development is underway at nearby Silvertown.

Enhancing local connectivity, those plans include a new bridge across Royal Victoria Dock and upgrades to the DLR station to help cope with the expected influx of residents.

Housing prices in the area are likely to rise over the coming years given this considerable investment and there are also benefits from being London’s only enterprise zone – a scheme designed to attract businesses to base themselves in E16.

Local amenities are plentiful and The Silverton is also within easy reach of the Woolwich Ferry, London City Airport and conference and exhibition centre, Excel London.

key details: shared ownership at The Silverton

Shared ownership properties at The Silverton are available through Aster Group with prices starting at £88,750 for a 25% share of a one-bed.

Call 01380 735 480 to register your interest or visit the group’s website.

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January 26, 2025January 28, 2025

The Silverton promises buyers growth as Royal Docks regenerates

Why renters who are looking to buy are increasingly looking further east in London to find value

An artist's impression of The Silverton by Fairview New Homes — An artist’s impression of The Silverton by Fairview New Homes

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Price is the driver behind first-time buyers’ appetite for Royal Docks properties according to Fairview New Homes.

The developer, which is currently marketing The Silverton in E16’s North Woolwich Road, says renters looking to buy are increasingly heading further east.

“The current climate means buyers are naturally looking for the best value for money when it comes to buying a home, especially those looking to join the property ladder,” said the company’s sales manager, Sohail Saiyed.

“While the Royal Docks is an emerging area and almost halfway through its major regeneration life cycle, it’s within easy reach of so many fantastic locations that offer everything young professionals are looking for.

Royal Docks is significantly less expensive than the area around Canary Wharf

“Therefore, it’s no surprise that we’re seeing renters from Canary Wharf, Limehouse and the Isle Of Dogs buying here, as for a like-for-like property they’re saving over 20%.

“Given the ongoing regeneration and huge investment in the Royal Docks, I would expect this trend to gather pace and as a result drive up house prices, meaning now is the best time to invest in the area.

“Due to its proximity to Canary Wharf, I would expect the area to follow a similar trajectory to the Isle Of Dogs, where house prices have risen by 82% over the last 20 years according to data from Foxtons.”

The estate agency’s numbers back up the argument.

It says the average asking price for a one-bed in the areas around Canary Wharf including Limehouse, Poplar, Blackwall and the Isle Of Dogs is £435,938.

For Royal Docks, that figure drops to £353,841 – a 19% difference and a potential saving of £82,000 for prospective buyers.

Homes come with fully fitted kitchens in open-plan living areas

The Silverton: attracting buyers

The Silverton itself is evidence of the trend.

More than a third of buyers at the scheme have come from addresses in E14 and Saiyed said that, with many working in the financial and insurance sectors not having to compromise on their lifestyles thanks to efficient transport links, it had proved popular.

By DLR via Pontoon Dock, Canary Wharf is about 20 minutes from the development or a 12-minute drive.

The scheme also enjoys direct links into the City and is within walking distance of London City Airport.

Billions of pounds are currently pouring into Royal Docks with many new homes, amenities and attractions expected to be built in the coming years.

The Silverton’s location, however, puts it within easy reach of the cafés, restaurants and shops that have already taken up residence at nearby Royal Wharf including The Windjammer pub, brunch spot Little Hudson and Korean barbecue Keonbae.

It’s a neighbourhood that is continuing to change with much more to come including a new pedestrian bridge linking the north and south sides of Royal Victoria Dock as part of The Silvertown development, a similarly named scheme nearby.

For Sohail, it’s an area primed to appeal to an active demographic of buyers.

“40% of our reservations have come from people aged 30 or under, which is a further indication of how popular this area is proving with the younger generation,” said Sohail.

“It’s a neighbourhood where we’ll see young families grow and a sense of community establish itself even more in the years to come.

“While almost half of those living in the Royal Docks are renting, nearly all of our first-time buyers are 30 or younger, demonstrating that once financially able, east London’s younger generations are clearly keen to put down roots here.”

To help them do that, Fairview is currently offering 5% mortgage contributions on selected plots up to a maximum of £25,000 on reservations made by March 31, 2025.

Terms and conditions apply.

An artist's impression of winter gardens at The Silverton — An artist’s impression of winter gardens at The Silverton

key details: The Silverton

Prices at The Silverton start at £350,000 for a one-bed.

A selection of one, two and three-bedroom apartments and two, three and four-bedroom duplexes are available.

Find out more about the development here

Read Wharf Life’s e-edition here

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January 11, 2025January 11, 2025

East River Wharf apartments on sale with 5% deposit boost

Legal And General Affordable Homes is offering the incentive to buyers who reserve before midnight on March 20 at the Royal Docks scheme

East River Wharf forms part of the Riverscape development in Royal Docks

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For those house hunting in 2025, a development in Royal Docks is offering a potent incentive to swap renting for a foot on the ladder.

Prospective buyers reserving a shared ownership home at East River Wharf before midnight on March 20, 2025, can get a boost to their deposit of up to £8,000.

The 5% contribution comes in the form of a one-off deduction when the purchaser completes on the deal and is only available on deals to buy 25% of a property at the scheme.

For example, a quarter of an apartment with a full market value of £500,000 would be £125,000, making the available boost to the buyer £6,250 – potentially equivalent to the deposit necessary to secure a 95% mortgage on that property.

Legal And General Affordable Homes, which is marketing the properties at East River Wharf, is set to host an open day on January 18, 2025, for those interested in accessing the incentive.

Prices for a one-bedroom home at East River Wharf start at £96,875 for a 25% share and come with a wide range of facilities and benefits.

The properties form part of Riverscape – essentially an extension of Ballymore and Oxley’s extensive Royal Wharf development on the banks of the Thames at Silvertown – meaning East River Wharf residents are able to access those schemes’ amenities.

These include a health club, the Sky Lounge with views over the Thames to Greenwich Peninsula and Canary Wharf, a concierge service, 24-hour security and a high street with shops, cafés and restaurants.

Shared ownership buyers also get a three-year ZipCar membership with £50 of driving credit when they move in.

Each apartment at East River Wharf has private outdoor space

a wealth of amenities

A spokesperson for Legal And General Affordable Homes said: “The amenities at East River Wharf are best in class, with a state-of-the-art residents’ gym, pool and spa.

“Plus, concierge services and 24-hour security ensure our residents always feel at home.

“There is also a primary school located on the development, which is perfect for growing families.

“Whatever your stage in life, East River Wharf is a modern and secure place to call home with shared ownership.”

The apartments themselves are located on the edge of Lyle Park, which recently celebrated its centenary with a spruce up and the installation of a commemorative mosaic.

They feature open-plan design, fully fitted kitchens with integrated Siemens appliances, tiled bathrooms, free standing Beko washer-dryers and private balconies.

The entry-level one-bed extends to some 538sq ft with a full market value of £387,500.

At the other end of the scale, a three-bed worth £650,000 stretches to 934sq ft on the tenth floor, with a 25% share costing £162,500.

Homes at East River Wharf start at £96,875 for a 25% share

connected up: East River Wharf

Transport connections nearby are excellent with the DLR offering rapid links to Canary Wharf, London City Airport and beyond.

Shared ownership allows buyers to get on the ladder with a smaller deposit than if they were buying a home outright by allowing them to purchase typically 25% of a home.

For the entry level property at East River Wharf, for instance, a deposit of £4,844 could be enough to secure a 95% mortgage on the £96,875 price.

Buyers then pay rent on the unowned portion of the property, the mortgage on their portion of it and the service charge.

This usually works out cheaper than renting a comparable home in the same area.

Those who own a share can also choose to increase their stake in a property over time – a process known as staircasing – until they own the whole thing, or can sell their portion should they wish to move.

The view from the Sky Lounge at Riverscape

key details: East River Wharf

The open day at East River Wharf is set to take place on January 18, 2025, from 10am to 4pm at the development’s Sky Lounge.

Those seeking to attend should register their details here

Find out more about the development here

Read Wharf Life’s e-edition here

Subscribe to our free Wharf Whispers newsletter here

June 5, 2024June 5, 2024

East River Wharf shared ownership may cost less than renting

Legal And General Affordable Homes’ scheme offers compelling alternative with deposits starting at £4,844 for a one-bedroom property

Image shows a collection of residential tower blocks that make up the Riverscape development next to the Thames in Royal Docks. East River Wharf's buildings are orange and at the centre — East River Wharf’s buildings are located at the centre of Riverscape close to Lyle Park

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Rising rents are arguably one of the biggest pressures in the housing market right now.

According to a recent study by estate agency Stirling Ackroyd, tenants are currently paying an average of £1,966 a month for a one-bedroom property near Canary Wharf.

While wider inflation has fallen back to 2.3% and average two-year fixed mortgages have dropped back to less than 5% in May, with cheaper borrowing expected later in the year, rents are forecast to climb ever higher.

One study from Savills predicts more than 6% growth over 2024.

Increasingly, affordable housing providers are highlighting shared ownership properties as a less expensive alternative to renting.

Image shows living area with a wooden floor at East River Wharf — A show home interior at East River Wharf

case study: East River Wharf

Take Legal And General Affordable Homes’ East River Wharf scheme, for example.

Its properties form part of Riverscape – essentially an extension of Ballymore and Oxley’s Royal Wharf development on the banks of the Thames at Silvertown.

Located roughly 15 minutes from Canary Wharf itself via the DLR and Jubilee line, these one, two and three-bedroom homes are set in a wealth of green space close to Lyle Park in a freshly regenerated part of Docklands.

Neighbouring Royal Wharf boasts a wealth of amenities including a pub, restaurants, shops and health services.

Residents will enjoy access to a health club with a gym, pool, spa and fitness studio as well as a 16th floor sky lounge with views over the Thames to Greenwich and Canary Wharf.

The apartments at East River Wharf include private balconies, open-plan design and fully fitted kitchens with integrated Siemens appliances.

But, alongside the quality of the finish and the facilities, the key attraction lies in escaping the grind and uncertainty of the rental market.

A deposit of £4,844 could be enough to secure a one-bedroom home at the scheme – 5% of a 25% share worth £96,875.

Monthly costs are expected to be about £1,465.

By purchasing a portion of the property, a buyer can essentially secure a £387,500 apartment with no threat of eviction.

They also enjoy all the freedoms to enjoy living in the space they might expect if it was owned outright.

In contrast to renting, purchasers of shared ownership homes are not subject to landlord inspections or controls on how they decorate their space, for example.

Image shows a show home kitchen at the development — Properties come with fully fitted kitchens

capital appreciation

They also own an asset that, in the case of East River Wharf, is highly likely to appreciate.

The area has already undergone extensive regeneration, but there’s much more in the pipeline for Royal Docks.

Major infrastructure and housing investments are in the pipeline over the coming years with homes, businesses and facilities set to be built locally.

Already an attractive area to live in, these developments are likely to bring fresh demand as buyers look east for high quality homes to purchase in the future.

Royal Wharf is already well served by the DLR and bus routes as well as a dedicated pier for Uber Boat By Thames Clippers services, which run all the way to Putney along the river.

Image shows the Greenwich Peninsula and Canary Wharf skylines at sunset as seen from Riverscape's residents' lounge — The view from the communal residents’ lounge at Riverscape

secure a property

A spokesperson for Legal And General Affordable Homes said: “The amenities at East River Wharf are best in class, with a state-of-the-art residents’ gym, pool and spa.

“Plus, concierge services and 24-hour security ensure our residents always feel at home.

“There is also a primary school located on the development, which is perfect for growing families.

“Whatever your stage in life, East River Wharf is a modern and secure place to call home with shared ownership.”

Under the shared ownership scheme, buyers purchase part of a property.

They pay a deposit and arrange a mortgage to cover the cost.

They then pay a reduced rent on the rest of the property and the appropriate service charge.

Purchasers need not be first-time buyers but cannot own another property.

Owners can choose to increase the portion of the apartment that’s theirs until they own the whole property, in a process commonly known as “staircasing”.

Equally, buyers are free to sell their share either through the affordable housing provider or independently, if they decide to move home.

Image shows a show home bedroom at East River Wharf — Properties at East River Wharf start at £96,875 for a 25% share

key details: East River Wharf

East River Wharf is located at the Riverscape development beside Royal Wharf.

The closest transport link is West Silvertown DLR station on nearby North Woolwich Road.

Prices for a one-bed start at £96,875 for a 25% share.

Call 020 587 2474 for more details.

Find out more about the scheme here

Read Wharf Life’s e-edition here

Subscribe to our free Wharf Whispers newsletter here

- Jon Massey is co-founder and editorial director of Wharf Life and writes about a wide range of subjects in Canary Wharf, Docklands and east London - contact via jon.massey@wharf-life.com