Location is often put forward as the single most important thing to consider when purchasing a property.
But what does this really mean in London?
In a capital as vast and diverse as ours, crucial to a buyer’s decision will be a home’s proximity to different modes of public transport, enabling rapid access to all the city has to offer.
Here, NHG Homes is currently offering a collection of 60 homes for sale on a shared ownership basis – nothing especially remarkable in that.
However, these properties are located in a transport sweet spot.
Not only are they two minutes from North Acton Tube station, offering Central line services across the city, they’re also a little over 10 minutes’ walk from Acton Main Line Station.
A show home interior at the development
That means access to the Elizabeth Line and with it fast connectivity across the capital.
From there, it’s 12 minutes to Tottenham Court Road for Soho and Oxford Street, 21 minutes to Heathrow Airport or 25 minutes all the way over to Canary Wharf in east London.
This promises a commute for Wharfers of less than 40 minutes door-to-door – enviable compared to many other areas.
Prices for the one and two-bedroom homes start at £108,750 and £121,250 respectively for 25% based on full market values of £435,000 and £485,000.
The entry level property could be purchased with a deposit of less than £5,500.
So what can buyers expect from The Perfume Factory apartments?
NHG Homes’ properties feature open-plan layouts with wood-effect floors and mirrored fitted wardrobes.
Buyers will also get private balconies and fitted kitchens with energy fitted Bosch appliances.
These energy-efficient machines fit neatly into a wider focus on sustainability with the scheme also boasting cycle storage and communal spaces powered by the integrated solar panels.
Apartments start at £108,750 for a 25% share in a one-bedroom home
Purchasers will also enjoy access to landscaped, communal gardens on-site.
NHG Homes’ head of marketing and digital, Amie Triphook Cole, said: “North Acton is an up-and-coming part of London, which is already attracting many first-time buyers from all over the capital – including places like Canary Wharf – who are looking for a work life balance.
“The area is set to experience continued growth in the coming years, making this a great time to purchase.
“Homes at The Perfume Factory offer both comfort and practicality with high quality interiors, superb transport connections via the Elizabeth Line and Central line, and plenty of local amenities – ideal for first-time buyers looking to make the city their home.”
Local transport links might offer residents the option of rapidly travelling to multiple locations around London, but Acton has many attractions of its own too.
These include an array of local cafes, bars and restaurants such as the award-winning Stones Fish And Chips.
A little further afield, Westfield London and Ealing Broadway offer a wealth of places to eat, drink and shop.
There are also many green spaces to explore locally including North Acton playing fields, The Grand Union Canal and Pitschinger Park – home to rose gardens.
Why not look west when hunting for a way to get on the ladder?
NHG Homes is currently offering £2,000 contribution towards moving in on the first 10 homes reserved by May 31, 2024
key details
NHG Homes is currently selling one and two-bedroom properties at The Perfume Factory in North Acton on a shared ownership basis.
Prices start at £108,750 and £121,250, respectively for 25%, both available with a 5% deposit.
Service charge rates are estimated at around £3.80 per sq ft. Rent is paid on the un-owned portion of the property.
NHG Homes is currently offering £2,000 contribution towards moving in on the first 10 homes reserved by May 31, 2024
- 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
We’re sat in front of the frankly huge, gold-framed plate glass windows in a show apartment in The Pearsall building at Ballymore’s Riverscape scheme.
The effect of this expansive, considered glazing is to portion up the apartment’s views over the Thames of east and south-east London into gilt-edged postcards of a vibrant, ever-changing city and skyline.
It’s a part of the capital Brian’s career in property has deeply intertwined with.
Working for the likes of Berkeley Group, Mount Anvil and Canary Wharf Group, he’s helped countless buyers find new homes here, at developments up and down the river.
It would be fair to say while those developers have built the structures that have transformed Docklands, his job has been to convince house hunters to live in them, helping to create the emerging communities which have replaced industrial decline.
He joined Ballymore a little over seven months ago as managing director of sales and marketing and is relishing the opportunity to work on its existing schemes and a rich pipeline.
Ballymore managing director of sales and marketing, Brian De’ath
“Our industry is very small – people bump into each other all the time – so I got to know my predecessor, Jenny Steen, over the years and I’d always got on tremendously well with her and had great respect for Ballymore as a company,” said Brian.
“For me it was good timing that a position arose at a company I really wanted to work for.
“Looking at what Ballymore has done over the years, I’d been impressed with its level of integrity in terms of acquiring a site and taking the soul of the area into account.
“I think it’s in the company’s DNA to say: ‘We’re going to treat each individual project in its own right and on its own merits’, rather than taking a model and replicating it.
“Instead, the company asks what each development needs and what it can do to enhance the local area.
“Ballymore was one of the first developers there and for the company to take that leap of faith and imagination was tremendously exciting.”
The Pearsall features large windows with views across the Thames
Simply put, the developer has built a sizeable portion of the east London we see around us today.
In partnership with EcoWorld it’s delivered Wardian – just over the dock from Canary Wharf on the Isle Of Dogs – and London City Island at Leamouth, which included a new home for the English National Ballet and a vital bridge over the River Lea, linking the area to Canning Town station.
The latter has since been effectively extended as a campus, with Ballymore’s Goodluck Hope project filling a patch of land between the Thames and the smaller river with warehouse-style buildings and townhouses.
While the company’s impact has already been profound on the shape of housing close to Canary Wharf, it’s also been transformational for the regeneration of Royal Docks.
Working with Oxley, it’s Royal Wharf scheme has seen a town of more than 3,000 homes built beside the water close to the Thames Barrier.
The Pearsall features open-plan apartments
The partners are currently building Riverscape – a development of more than 750 homes on a strip of land leading up to the river between Royal Wharf and the 100-year-old Lyle Park.
Located right on the water, it houses 137 apartments – with one, two and three-beds available – and is due for completion in the summer.
“It’s in a super spot with views across Lyle Park and down the Thames to Canary Wharf,” said Brian.
“You’ve got 100-year-old trees in front of you, with the park celebrating its centenary in 2024 and then there’s the river itself – imagine the sun setting behind the towers on the skyline with the water in front. It’s a great spot and we’re delighted with it.
“Historically if you’d asked me how close I’d want a building to be to the Thames, I’d have always said right next to it.
“But while working for Canary Wharf Group and selling homes at South Bank Place, which has Jubilee Gardens in front of it and then the river beyond, I learnt that having the contrast between the green space and the water can be incredibly special.
Properties feature built-in storage in the main bedrooms
“I get that same feeling at The Pearsall. I think it offers unrivalled value at its price point.
“The quality of the architecture and the interior design has absolutely not been seen in this location before.”
The properties feature open-plan design, big windows, built-in wardrobes, walk-in showers and high quality timber flooring.
Part of the attraction for buyers will also be the prospect of moving to a neighbourhood that’s well established, albeit one with significant regeneration to come.
This should mean improved access to nearby Pontoon Dock DLR, a new bridge across Royal Victoria Dock for better access to the Elizabeth Line and an expansive swathe of development by Lendlease as its transforms the land around Millennium Mills.
But right now residents who move into Riverscape will benefit from Royal Wharf’s extensive offering.
That includes a 25m swimming pool, hydrotherapy pool, sauna, jacuzzi and a gym in its Clubhouse, on-site security and a wealth of established businesses including a nursery, cafes, restaurants, a GP, a dentist and The Windjammer pub.
Residents can enjoy views over Lyle Park to Canary Wharf
There are also regular farmers’ markets and community events to look forward to.
However, to consider The Pearsall even at this level of isolation would be to do a disservice to the area and its future.
One of the key things buyers must consider when making a purchase is how likely an area is to be attractive in the coming decades.
The Pearsall sits at the apex of a scheme that slots neatly into a vibrant community.
This is located in Royal Docks, London’s only enterprise zone, which is currently enjoying billions of pounds of inward investment as public bodies and private companies work to regenerate land abandoned by industry.
So those making a purchase now are likely to benefit further from such mammoth milestones as the opening of the nearby Silvertown Tunnel, the expansion of Excel and a wealth of future development.
Ballymore itself has two more substantial schemes in the pipeline – one on the other side of Lyle Park at Knights Road and another further east at UNEX-Thames Road, on the other side of Thames Barrier Park.
“To buyers now, we’re not saying you have to be pioneers at all, but part of the attraction of buying here is to be part of the journey that’s coming,” said Brian.
Glazing at The Pearsall portions up the London skyline into gilt-edged postcards
“Ballymore has the fourth largest pipeline of any developer in London and that’s incredible for a privately managed business.
“Knights Road will have around 1,250 homes, although the numbers may change as it goes through the planning process.
“It’s got a lovely scale to it and, for me, it feels like placing the next piece in a jigsaw puzzle.
“The east of Lyle Park will be fully developed and accessible to residents and the new scheme will join on to that – ultimately the whole area will be read as one.
“When you walk around Mayfair or Belgravia, nobody thinks about which buildings were created as part of which schemes – people experience them as single places and that will happen here too.
“We’re also very lucky to have the UNEX site, which will be about 1,400 homes with some very interesting designs coming, including some for light industrial use.
That means an opportunity for great architecture and businesses – a small brewery, perhaps – mixing in with the apartments.
“We’ll be creating large parks as part of these schemes too and opening up the river.
“We want to work with local stakeholders to do this because we see the value in it for residents and visitors.
“When you look at Ballymore’s investment, there’s no-one doing more in this part of London – it’s something we take incredibly seriously.”
Homes at Ballymore’s Goodluck Hope scheme at Leamouth are still available
ALSO AVAILABLE – Goodluck Hope
Ballymore is currently marketing properties at its Goodluck Hope development, a little further west along the Thames
“This has been a tremendously successful development by Ballymore,” said Brian.
“The scheme includes a wonderful mix of architecture with a mixture of townhouses, towers, low-rise buildings and a refurbished dry dock.
“There’s a grocery open there now and a bakery and cafe as well as all the amenities as London City Island. We currently have about 100 homes left at Goodluck Hope.”
A show home interior at Goodluck Hope
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key details
Apartments at The Pearsall start at £435,000 for a one-bedroom property. Completion is expected this summer.
Homes are also on sale at Ballymore’s Goodluck Hope scheme in Leamouth. Prices start at £425,000 for a studio.
- 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
“People are smart nowadays, they’re not just buying somewhere because it’s a great place to live – they’re looking at lots of different elements and whether they’re going to see capital growth on their purchase,” said Yolanda Jacob, sales and marketing director at Barratt East London.
“Even if they stay for five years, they want to see a property will be a good investment for them.
“Buying at the beginning of regeneration is nearly always the best time to purchase, because you’re going to see capital growth because of everything that’s going on in the area.”
We’re discussing Bermondsey Heights, the developer’s latest south-east London scheme.
When complete, the Ilderton Road complex will house 163 one, two and three-bedroom homes as well as 32 shared ownership apartments, rising to 26 storeys at its highest point.
This includes the Skyline Collection, a clutch of properties spread over the top four floors with an enhanced specification and, presumably, the best views the scheme has to offer.
Barratt has a bit of a track record in building developments in areas that then go on to see vast swathes of regeneration unfolding, with buyers enjoying the upswing in property values and boost in amenities that result.
Maple Quays at Canada Water and Enderby Wharf on Greenwich Peninsula would be two examples.
This could well be true for Bermondsey Heights as well.
The development features views across London from its communal roof terrace
Over the road to the north, Renewal has plans for some 3,500 homes, office spaces and, potentially, a new Windrush Line station on land surrounding Millwall FC’s ground.
For context, New Bermondsey is a scheme comparable in size to Royal Arsenal Riverside in Woolwich or Kidbrooke Village.
“House prices locally are forecast to rise by 25%, which is huge compared with other areas,” said Yolanda.
“People who bought at the start of similar schemes in Brixton, Shoreditch or King’s Cross will be very happy with their investment after five or 10 years.
“These are destinations people now go to for socialising, entertainment and shopping.”
But what will those future residents actually be purchasing?
“Each apartment will have outside space – either a winter garden or a balcony,” said Yolanda.
“They have open-plan living areas and kitchens with all your appliances, finished to a high specification.
“Buyers can have the option to choose a colour scheme – they can bespoke the apartment and pick flooring, tiles, carpets and bathroom decor.
“The designs are very fresh, clean and bright.
Apartments feature open-plan design
“We also offer furniture packages, with designers who can come in and help buyers personalise their home.
“Then there’s a concierge service at the development as well as a podium garden and a roof terrace for residents.”
While some developments come stuffed with facilities, Barratt’s approach in South Bermondsey is to pare back its offering to keep service charges down in a move it believes will be attractive to buyers.
“These days new-builds offer so many options,” said Yolanda. “There are developments offering cinemas and golf simulators, but you’re going to pay a lot for those facilities.
“What we want to do is make sure we’re building homes that are affordable, and where they don’t have the worry of having to pay thousands of pounds a year on service charges, for facilities they may not use that much.
“In the middle of London such amenities can easily be found and we don’t want to tie people into spending lots of money on things they don’t want to use.
“Our aim is to cover the basics and then leave it up to personal choice.
“That way we can keep the service charge to around £3 per square foot, which is attractive to buyers.”
Bermondsey Heights is located within 10 minutes’ walk of South Bermondsey station for services into London Bridge.
Residents can also walk 15 minutes to Surrey Quays station for Overground services on the Windrush Line and connections to Canary Wharf within two stops.
One, two and three-bedroom homes are available
“It’s a largely unregenerated area at the moment with industrial units, workshops and warehouses – but there’s a major injection of funding coming and it has brilliant backup with its neighbouring places,” said Yolanda.
“You’ve got Deptford down the road, which has seen quite a bit of a resurgence in popularity as well as Surrey Quays and Elephant And Castle, which have already seen extensive regeneration.
“Then there’s New Bermondsey in the pipeline.
“Bermondsey Heights for people looking for affordability and somewhere they can put down some roots.
“It’s an interesting proposition in terms of pricing – statistics from JLL show we’re about 19% lower compared with other Zone 2 developments across the capital.
“That’s been a huge draw for people whether they’re buying for investment or to live in because they can see lots coming here and that the infrastructure is going to improve.”
An explanation, perhaps, for the fact Barratt’s scheme is already more than 50% sold.
Be quick.
need to know
Properties are now on sale at Bermondsey Heights through Barratt East London.
Prices start at £490,000.
A new show home is set to launch at the development in May, 2024, with further details available online.
- 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
Dominating that site is the steel-clad edifice of The Founding, the project’s first residential tower, and every inch of its 35 storeys a flagship structure.
While its neighbouring buildings will contain a leisure centre, workspace and places to eat and drink, apartments mean people in residence 24-hours a day, 365 days a year, a potent addition to an already thriving south-east London community.
The building boasts views of central London and Canary Wharf
Over 12 years, the wider 53-acre site will have much more to come but our focus here is on what The Founding will offer as a place to live.
“It contains 186 apartments and the views from every side are fantastic,” said Simon Capp, head of residential sales at British Land.
“We’re super-lucky in that we’ve got low-rise geography locally overlooking Southwark Park to the west and Canada Dock to the east.
“Architecturally, it’s special, designed by Allies And Morrison, who have a strong track record in large-scale towers.
“It has quite an industrial, urban aesthetic – appropriate for Canada Water, which historically has been a hard-working part of town dealing with shipping and cargo.
“It has a warehouse-like feel.”
A show home interior at The Founding
Head inside, though, and while there are some stylistic nods to industry, there’s also plenty of home comforts.
“All the interior architecture has been created by Conran And Partners, which has a really strong track record in luxury hotels and premium residential developments,” said Simon.
“We have two show flats – a one-bed and a two-bed – available for buyers to view at the marketing suite.
“The properties feature oak flooring and Crittall-style windows as well as concrete-style worktops, wooden kitchen cabinets and open-plan design.
“The building predominantly houses one and two-bedroom apartments, with around 15 three-beds on the upper floors with fabulous views and studios also available.”
Kitchens include Samsung appliances as standard
Residents can expect Samsung appliances as standard as well as underfloor heating and comfort cooling in one, two and three-beds.
Properties come with LED downlighters and track spotlights in the coffered ceiling areas of living rooms, sizeable bathrooms and balconies with views across London.
“Even for this first phase, we’ve got a very good level of enlivenment in the form of restaurants, cafes and bars,” said Simon.
“We’ve started work on the transformation of the courtyard, which will be completed late this summer.
“The Founding’s proximity to the station means it’s about a minute to get from the building’s lobby to the Tube and Overground services.
“As a residential offer, this is really one of a kind.”
With more than a decade of work taking place locally, The Founding is also well located to avoid much of the construction that is in the pipeline.
By the end of this year work to renovate Canada Dock will be complete meaning residents can move into The Founding safe in the knowledge that no significant building work on the project will take place on adjacent land.
The tower features three roof terraces
Instead they’ll be able to take advantage of Asif Khan’s bridge over the docks and a new food, drink and cultural destination that will be installed at Surrey Quays as regeneration takes place further to the south and east.
“Canada Water is already a fully established place – a very nice neighbourhood,” said Simon.
“Our Canada Water project is more of a revitalisation – stitching something really exciting into what is already a well-established community.
“We’ve taken what we’ve learnt from other large scale developments such as King’s Cross and putting that into action.
“There will be a great mix of residential and commercial space and, with the dock, we’re working to increase the biodiversity to make this an even better place to live – a fresh and lively district.”
The Founding itself includes three roof terraces for residents to use as well as communal spaces for work and relaxation.
Further perks include three years’ membership to a London cycle hire scheme as well as bike storage for each apartment.
Ideally located for public transport, buyers can be in Canary Wharf or London Bridge within minutes, with the Windrush Line offering rapid access to the likes of Whitechapel, Shoreditch and Dalston.
Simon said: “Given that rents are currently high, people are looking to purchase.
“We’ve been getting interest from a mix of buyers including people who work in Canary Wharf, some of whom don’t want to live there and are looking for something a bit different.”
Studios, one-beds, two-beds and three-beds are all available
key details
Prices at The Founding start at £704,000 for studios and one-beds.
Two-beds start at £986,500, while three-beds are expected to start at around £2million.
Properties come with a circa 500 year lease and an estimated service charge of £6.56 per sq ft.
- 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
Located at the eastern end of Royal Albert Dock, with the curve of the Thames behind it, today the area’s 15-year regeneration project is approaching completion, with the launch of its final phase of properties.
NHG Homes is set to release 58 apartments for sale at the scheme in spring, 2024, arranged around a communal garden square that opens onto the Thames Path riverside walkway.
Lined with trees, this route also leads to a children’s playground overlooking the river.
One, two and three-bedroom properties will be available, all featuring outdoor space in the form of balconies or private terraces.
Prices start at £375,000 for a one-bed with two and three-beds from £494,995 and £634,995 respectively.
Inside, the apartments feature open-plan design with Bosch appliances integrated into the kitchens, fitted wardrobes, built-in storage and separate washer-dryer cupboards.
The development also features a concierge service, a dedicated workspace and lounge area plus parking included as standard with three-bedroom properties.
The final phase is located right by the Thames Path
All residents get access to cycle storage facilities and the on-site car club, should they need four-wheeled transportation.
In contrast to buying a home off-plan at a scheme where work is just starting or halfway through, the majority of Royal Albert Wharf’s amenities are already in place.
NHG Homes’ head of marketing and digital, Amie Triphook Cole, said: “Royal Albert Wharf has quickly become the place to be in the Royal Docks.
“There’s a flourishing community of creators, businesses, young professionals and families who call this neighbourhood home, and with this final phase of homes, now is the last chance to buy a new home at this award winning development.
“Our residents enjoy the perfect blend of riverside views, plentiful on-site amenities and access to lush green space, all within homes designed with active, convenient and modern living in mind.
“I encourage buyers to enquire with us today, so that they don’t miss out on this last opportunity to buy in one of east London’s most exciting areas.”
Apartments are arranged around a communal garden square
Royal Albert Wharf already enjoys a wealth of local amenities with food and drink served by the likes of the Well Bean Cafe and Cafe Spice Namaste, owned by celebrity chef Cyrus Todiwala and his wife Pervin.
There’s also a monthly market selling fresh produce, street food, arts and crafts and plans for an on-site gym, nursery and a convenience store.
The development is also home to a number of artists and makers in studio spaces administered by Bow Arts, as well as local creative collective Art In The Docks, which regularly hosts exhibitions and events.
Royal Albert Wharf is located within easy walking distance of Gallion’s Reach DLR station offering direct connections to a host of east London locations.
Royal Albert Wharf has seen extensive regeneration in recent years
It also connects residents to the Elizabeth Line at Custom House and the Jubilee line at Canning Town, both making for easy journeys to Canary Wharf and beyond.
Prospective buyers will also likely be pleased at the prospect of a DLR extension to Thamesmead, an area undergoing three decades of regeneration.
The connectivity already in place means Royal Albert Wharf residents live within easy reach of the cultural and retail attractions of Stratford and Greenwich Peninsula as well as Canary Wharf.
More locally, the University Of East London is within walking distance and Excel and City Hall are a few stops away on the DLR.
The scheme is also close to Beckton Gateway retail park, which hosts big brands such as B&Q, Dunelm and Pets At Home.
key details
There are 58 properties available in the final phase of Royal Albert Wharf.
Prices start at £375,000 for a one-bed and £494,995 for a two-bed.
Three-beds start at £634,995, which includes parking as standard.
First-time buyers Nate and Bianca in their Royal Albert Wharf home
CASE STUDY
Nate and Bianca moved into a one-bedroom apartment at Royal Albert Wharf in April 2021.
The first-time buyers purchased their home at NHG Homes’ east London scheme for £372,500 with a deposit of £56,000.
“We couldn’t find this quality and this location for the same price anywhere else,” said Nate, who works in cybersecurity in Canary Wharf.
“I started renting in central London, moved north, then east and then, most recently, south of the river – I pretty much experienced it all over six years as a tenant.
“I decided my last rental experience would be the last – I’ve rented in shared flats, and on my own, and it’s never really an easy process.
“Buying an apartment is a big deal, but the NHG Homes sales team made every moment as easy as possible.
“It was probably the best experience of buying a house you could possibly have.”
Bianca, who works in the events sector in Woolwich, added: “We looked at quite a lot of properties but struggled to find a home that ticked all of our boxes.
“We wanted to find somewhere that gave us access to open space, fresh air and was close to the Thames, as well as giving us shorter journeys to work.
“Royal Albert Wharf was the perfect fit.”
Unusually, three-bedroom apartments come with parking space included
Transport connections certainly helped sway the couple, with Nate especially impressed by his new commute and the development’s connections to airports.
“I used to travel an hour and 15 minutes to Canary Wharf, and now it only takes me 25 minutes door-to-door,” he said.
“I also fly frequently for work – travelling to Heathrow or Gatwick was such a pain and added hours onto each journey – but now London City Airport is very convenient and perfect for business travel.
“Knowing you’re half an hour from your front door when you land makes a big difference.”
For Bianca, the quality of the apartment, its features and facilities played a decisive role in the couple’s decision.
She said: “The apartment is really spacious, light, and bright – the layout is one of the things that encouraged us to buy here.
“We’d looked at quite a lot of properties within our budget and this floorplan was by far the best use of space we’d come across.
“It felt so much bigger than homes of a similar size.
“We were adamant about having enough space in the bedroom, which always tends to be the smallest space in a London flat.
“There’s also so much cabinet and wardrobe space.
“When we first came to view the property, we walked in the door and it was by far the best place that we’d seen.
“I could picture us living here immediately and planned out where everything was going to go – it was such an easy decision to make.”
- 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
With rents in the capital continuing to soar, shared ownership schemes are having a bit of a moment.
Typically purchasing a percentage of a property while paying rent on the remainder, even when a service charge is included, is generally cheaper than renting a comparable property nearby.
The advantages for prospective buyers are many.
Chief among these perhaps are the relative security in comparison to the precarious situation of being a tenant, autonomy over the space and its decoration and crucially the ability to access the sales market with a considerably lower deposit than would be necessary to buy outright.
Canning Town is also having a moment.
The area near the station has been undergoing extensive regeneration for years with plenty of new amenities arriving and much more still to come.
Highly connected, it’s a mere two stops on the Jubilee line from Canary Wharf and enjoys direct connections to London City Airport, Excel, Woolwich, Stratford and the City.
SO Resi is about to bring these two things together.
The shared ownership brand of Metropolitan Thames Valley Housing – the fifth largest housing association in the UK – is set to unveil a collection of 37 apartments in May.
The immediate area boasts a multitude of attractions, including craft beer at Husk, modern Italian food at Pepenero, a bouldering facility at Rise Climbing and outdoorsy activities at Bow Ecology Park and environmental community project Cody Dock.
Residents will be within walking distance of City Hall at Royal Docks, the home of the English National Ballet at London City Island and the art and heritage of Trinity Buoy Wharf.
It’s a compelling offering, even before you factor in the bustle of Stratford, the Queen Elizabeth Olympic Park, Westfield Stratford City, Canary Wharf, The O2 and Greenwich Peninsula – all within two Tube stops or less.
Canning Town station is also a major bus interchange, meaning residents can easily access areas such as Bethnal Green, Aldgate, Walthamstow and even Romford.
This is all evidence that, with a great deal more development in the pipeline, prices in E16 are likely to rise as demand for well-connected, regenerated parts of the capital increases.
SO Resi sales and marketing director Kevin Sims
SO Resi sales and marketing director, Kevin Sims, said: “It is no secret that London has become a place where a range of buyers are being priced out – especially first-time buyers.
“As such, the new SO Resi Canning Town scheme could be the perfect option for 2024.
“The scheme will allow purchasers to buy a percentage share that they will pay a mortgage on, with the remainder being paid on below-market rent and then service charges too.
“A lot of people are looking to avoid the rental trap who would never be able to afford to buy on the open market – with rents rising the fastest in London.
The Canning Town apartments will feature open-plan living areas
“One of the biggest benefits of shared ownership at SO Resi Canning Town is that deposits are often considerably lower than buying on the open market.
“This is because you put a deposit down on the share that you’re buying – 25%, for example – rather than the value of the whole property.
“As an example, at our recent SO Resi Hendon Waterside development, a 5% deposit on a 25% share of a one-bedroom apartment could be as low as £4,129.
“If London is a place you aim to stay in for the long term too, staircasing is a brilliant way to continue along the journey to full home ownership.
“It’s possible to buy shares at any time – but we offer the SO Resi Plus scheme, which was pioneered by us, and has now been rolled out nationally.
The apartments are located close to Canning Town station
“The scheme allows buyers to staircase at a gradual pace by purchasing an additional 1% share each year, which can be done at the touch of a button with no solicitors needed, making the ultimate goal of home ownership that little bit more achievable.
“Knowing this benefit is available to you throughout your journey should give you peace of mind – a purchase as little as 1% can make a world of difference in the long term.”
Shared ownership buyers purchase between 10% and 75% of a home and pay a capped rent on the remainder.
Typically schemes offer 25% or more, however.
SO Resi Canning Town’s apartments are set to go on sale next month with a show home expected to open in June, 2024.
The apartments are set to go on sale in May, 2024
key details
SO Resi Canning Town is a collection of 37 apartments ranging in size from one-beds to three-beds.
The properties are set to come on the market in May, 2024, with prices yet to be announced.
- 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
Being a tenant in London can feel like you’re on a treadmill that it’s impossible to get off.
You work hard just to stay in the same place, with money simply disappearing from your account each month.
For that, you get a roof over your head and a property maintained, but seldom improved.
Rent’s expensive too, making saving cash for a deposit challenging at the best of times.
It’s a precarious situation, with rent rises and landlords selling up a constant reminder that a rapid house move may always be in the pipeline, with comparatively little notice.
Without capital or the means to build it up, the dream of home ownership can easily seem just that, a fantasy.
There is, however, another way. Affordable housing providers are increasingly holding up shared ownership deals as a mirror to renting.
Buyers can purchase 25% or more of a property with a mortgage while paying a capped rent on the remainder.
That typically means a much lower deposit than buying outright, plus lower monthly outgoings than comparable properties up for rent.
The scheme features a communal roof garden for residents to use
“It’s the biggest selling point,” said Kate McLure, regional sales manager for south London at London Square.
“As a developer that’s all about creating communities, it was quite apparent to us that there were a large number of people in the capital who want to purchase a property but aren’t able to get on the ladder.
“Your average Londoner who works in the city often isn’t able to buy on the open market.
“That’s why we set up Square Roots as an accredited affordable housing provider, so we could offer shared ownership to those people.
“The products that we’re building are similar in terms of specification – really this is about opening up opportunities for people to get access to these homes.”
Square Roots Lewisham recently launched, a scheme of 141 apartments with one, two and three-bedroom homes available on a shared ownership basis.
Prices start at £106,250 for a 25% share in a one-bed with a full market value of £425,000.
The scheme is located within walking distance of both rail and DLR services at Lewisham station beside the River Ravensbourne.
“The products we’re building at Square Roots are similar in specification to those we’re selling through London Square,” said Kate.
“Square Roots is really about opening up opportunities for people to be able to purchase these homes.
“The aim is that they can then staircase their share in the property until they own the whole thing.
“What we find is that a lot of people come to us who are renting privately in the surrounding areas and are paying more every month than they would on a mortgage payment and rent combined through shared ownership.”
A show home interior at Square Roots Lewisham
THE MATHS
To illustrate that point, we took a deep dive into the figures to see how the entry level one-bed at Square Roots Lewisham stacks up against a similar flat available for rent in the area.
Using Square Roots’ affordability calculator, buyers of the £425,000 one-bed can expect a monthly cost of £1,531.
That figure includes a mortgage payment of £658 based on a 25 year term with a 5% deposit of £5,313.
Then there’s £730 of rent, payable on the 75% owned by Square Roots at a rate of 2.75% of its value.
The remainder – £143 – is the estimated service charge for the 551sq ft property, at £3.13 per sq ft.
In contrast, a slightly smaller rental flat (538sq ft) at a similar distance from the station costs £1,575 per month to rent.
Square Roots Lewisham is located close. to Lewisham Station
“The other thing you get with shared ownership, which is really quite different to private rent, is security,” said Kate.
“It’s not like being a tenant. You don’t have to ask your landlord for permission to decorate or be worried about not getting your deposit back if you put picture hooks in the walls.
“It’s your property – you can do what you want with it, even though you’re sharing the ownership with the housing provider.
“You have that stability in knowing you won’t have to move and it works out as more affordable than renting.
“At Square Roots Lewisham, we’ve been very mindful not to build too many amenities into the scheme that would potentially make the service charge too expensive for people buying here.
“It’s right next to Lewisham town centre, so there are plenty of gyms, services, shops, restaurants and bars for buyers to enjoy.
“It’s a responsibility for us to attract as wide a customer base as possible and we don’t want to price people out.
“We want buyers to have the choice about what to spend their money on after they have moved in, rather than making assumptions about what they want.”
IN FOCUS
The entry-level one-bed apartment at Square Roots Lewisham comes with a fully-fitted kitchen, balcony, open-plan living area and built-in storage in the bedroom. Here are a few quick fire facts:
- Total size: 551sq ft
- Leasehold term: 990 years
- Time to Canary Wharf: 18 minutes (from station)
- Total value: £425,000
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- Estimated monthly cost: £1,531
- Time to cycle to Greenwich Park: 12 minutes
- Train travel to Cannon Street: 20 minutes
With parent company London Square’s name an homage to the communal outdoor spaces in the older parts of the city, Square Roots offers a communal roof garden on the fifth floor of its Lewisham scheme.
As an ongoing shared ownership partner with buyers, it will also host a customer community committee so residents will have a voice in how things are run on a long-term basis.
“It’s very much a collaborative effort,” said Kate.
“People will have a say and that say matters. I think shared ownership still needs demystifying to some extent.
“The process can seem overwhelming to first-time buyers, so I would always invite them to come and talk to us.
“We can then put them in touch with independent financial advisers who can help them to see what they can afford.”
- 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
Set beside the wider regeneration of the Ferrier Estate, the area has been transformed in recent years with extensive house building and landscaping.
This project has seen a wealth of amenities arrive in this part of the Royal Borough Of Greenwich, including the blockbuster playgrounds and open spaces of Cator Park – a winner of the Sir David Attenborough award for biodiversity – all of which will benefit Kidbrooke Square buyers.
NHG Homes’ scheme is currently offering one, two and three-bedroom properties on a shared ownership basis, with prices starting at £92,500 for a quarter share of an apartment.
The housing association recently unveiled a one-bedroom show home on-site, showcasing the features of its homes including fully fitted kitchens with A+ energy-rated appliances, bathrooms with porcelain floor tiles and white sanitaryware as well as built-in wardrobes and storage space.
Properties feature open-plan design and boast private outdoor space (including two apartments with winter gardens). Further benefits on-site include communal cycle storage and a concierge service.
Locally, Pegler Square is home to cafes, shops and The Depot pub as well as a gym and regular food markets.
In addition to Cator Park, the open spaces of Kidbrooke Green Park and Sutcliffe Park are also within easy walking distance.
The development is located right beside Kidbrooke Station, offering rapid connections into the centre of the capital – London Bridge takes about 16 minutes, with Waterloo East three minutes beyond that.
Shared ownership properties at the scheme feature open-plan design
Journeys to Canary Wharf take a little over 20 minutes with a change at Lewisham onto the DLR.
The area is well served by bus services and cycle routes, with trips to Blackheath and Greenwich within easy pedalling distance.
NHG Homes head of marketing and digital, Amie Triphook-Cole, said: “Now is a brilliant time to buy at Kidbrooke Square, as residents start to move in and the community continues to grow.
“These fantastic apartments have been designed with a sense of comfort, accessibility and sustainability in mind.”
NHG Homes said the monthly costs of a shared ownership property at Kidbrooke – where rent is paid on the portion of the property not owned by the buyer – were cheaper on average than renting locally.
With a 5% deposit paid on a 25% share of its entry level one-bed, it estimates that cost to be £1,344 per month, dropping to £1,291, if a buyer pays a 10% deposit.
Fully fitted kitchens come with A+ energy-rated appliances
key details
Prices at Kidbrooke Square start at £92,500 for a 25% share of a one-bed apartment, based on a total market value of £370,000.
The home extends to some 566sq ft and is available with a minimum deposit of £4,625 (5%).
Two-beds are also available starting at £111,875 for a 25% share. Deposits for that property would start at just under £5,600 (5%).
- 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
The first development to feature in our focus on shared ownership is Square Roots Lewisham.
Delivered in partnership with developer London Square, the south-east London scheme presents prospective buyers with a collection of 141 one, two and three-bedroom apartments as well as duplexes.
Located beside the River Ravensbourne, the development is seven minutes walk from Lewisham Station for rail and DLR services offering links to Canary Wharf and the City.
Properties at Square Roots Lewisham feature fully fitted kitchens and bathrooms, private balconies or terraces for all apartments and space for home working.
The development boasts riverside walks, play areas and a communal roof terrace for residents as well as cycle storage, wireless door entry via handheld devices, a 10-year NHBC warranty and a two-year Square Roots customer service warranty.
Buyers can expect to be able to move into their properties this spring.
Readers can find out more information about the event by calling 0333 666 2535 or registering online at squareroots.co.uk.
The developer is also offering prospective buyers a package of incentives for those reserving properties at the full asking price.
Those purchasing a one-bed can get up to £4,000 of tailored benefits, while those opting for a two-bed can get up to £6,000.
The development boasts a communal roof terrace
Incentives include Window treatments from Thread And Dandy, John Lewis or Ikea vouchers, an annual travel card for Zones 1-6 or an annual parking space at Lewisham Shopping Centre.
London Square South managing director, Sean Gavin, said: “This is an outstanding opportunity for buyers keen to purchase a high quality new home close to the heart of London, which offers great value.
“Square Roots Lewisham is part of an extensive regeneration of the town centre, where significant investment is being made.
“This is excellent news for buyers who are looking for an affordable home in a great location in the capital.”
Canary Wharf workers considering a home at the development can look forward to a commute of less than 30 minutes door-to-door.
Residents will also benefit from an extensive network of local cycle paths offering direct connections to Greenwich, Blackheath and Deptford.
Lewisham itself has seen an influx of capital and activity in recent years with regeneration projects that have delivered new homes and amenities.
The area continues to see strong price growth, with Rightmove recording a 6% rise in average values year-on-year, 11% up on the 2020 peak of £545,248.
This contrasts favourably with trends in other areas of London, which have seen falls in recent years.
Square Roots was established by London Square two years ago with the aim of delivering 3,500 affordable homes over the next five years.
With 1,000 properties currently under construction, its schemes have already attracted recognition in the Evening Standard New Homes Awards and First Time Buyer Awards.
Square Roots Lewisham is set to launch a three-bedroom show home
key details
Prices at Square Roots Lewisham start at £106,250 for a 25% share of a one-bed apartment, based on a total market value of £425,000.
The home extends to some 551sq ft and is available with a minimum deposit of just over £5,300 (5%).
- 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
Refurbishing and updating the interior of a property can have myriad benefits.
The process offers owner-occupiers the chance to enjoy and use their home to its full potential while adding value should they wish to sell in the future.
For landlords, it’s an opportunity to boost and extend the appeal of their asset to attract more affluent tenants.
Interior design specialists Paul Cuschieri and Malcolm Abela Sciberras have expanded their business to London, having established Rebirth in Malta.
Here we look at three of their projects that typify their approach when working for clients in the field.
“This property is a mid-century London apartment,” said Paul.
“With us, it’s all about discussing briefs, budget, timelines, style and the needs of our client.
“In this particular project we were tasked with creating a home away from home for our client, but with the possibility of it being rented out.
“This two-bedroom home was dated, worn and tacky, so we had to bring it up to modern standards.
“Efficiency and energy conservation were also very important, so we installed double glazing and changed the central heating system to one that uses less fuel.
“We also made sure the property was in line with all relevant regulations for rental homes.
“Once all these things were set, we went into the design of the space.
Old and new – some original furniture has been retained
“We recommended going for a minimalist, eclectic feel that’s common to many of our projects. The reason is that we layer the space, creating points of interest.”
This approach allowed Rebirth to take existing statement pieces from the property and build them into their scheme.
Malcolm said: “It gives the place more character, with different features making it feel a bit homelike.
“Our approach also enables us to include any pieces of furniture a client may want to keep and that can be restored if necessary before being incorporated into the design.
“For example, here the dining table and the chairs, a desk and a wall unit were brought back into the final design accordingly so the living area still has those elements.”
Much of the interior on the three-month project, however, was newly installed, with Rebirth also dressing the apartment ready for rental.
“Having worked with the client during the whole process, obviously it becomes easier for us to select items that make the apartment feel like somewhere they would be comfortable living,” said Malcolm.
Rebirth always aims to satisfy its clients’ briefs
Paul added: “The architectural elements of the space did not convey bombast – they are a bit minimalist and we wanted to respect this and the era the apartment was built in.
“We were also inspired by the feeling that the place gave us.
“Our design aims to be timeless so it will age well and it’s also very neat.
“The kitchen units hide the new boiler system very well and the appliances are beautifully integrated, making the space feel less cluttered.
“That’s important because rental properties need to appeal to as many people as possible.
The firm also dressed the apartment, ready for occupancy
“We use layering to make our interiors feel as though they’ve been there since the beginning, rather than having designs which look too clinical that people can’t relate to.
“The principal bedroom, for example, features darker colours with a masculine feel, but softer furniture with more feminine elements to broaden its appeal.
“We wanted to make it so that when moving from room to room, each would be aligned to the overall feel of the place.
>> Functionality and versatility were the two watchwords for Rebirth when it came to the scheme for this three-bedroom apartment in the company’s native Malta.
Cupboards and doors to conceal functional elements are everywhere in this property hiding an oak-panelled cloakroom, for example.
“The palette is white, white, white, so we wanted to break that down with warm materials, such as bronze or brass accents,” said Paul.
“It has a certain formality but it’s still comfortable.
“One of the things we do when it comes to trends – and at the moment, minimalism is on trend – is to adapt them.
Wooden elements are present in multiple locations
“This kitchen needed to be open-plan and to blend with the aesthetics we’ve got whites and neutral colours.
“But in order to break that up, we also have some glass-fronted cabinets to create interest.
“Then we have the engineered oak flooring which we’ve introduced throughout most of the apartment.
“Then against the white we have included accents via different textures.
“For example, we were given a healthy budget for the main bathroom so we clad the walls in marble with different shades of white and grey.
“That’s broken up by the vanity unit with its textured front and the bespoke marble sink on top as well as the brass handles and accessories and a timber-rimmed mirror.
“We’re always looking to create balance.”
>> Malcolm added: “Our use of colour and texture depends on the design of the project.
“Here we’ve used brass as it’s the right amount of contrast.
The principal bedroom of the property
“Chrome and silver are on a different spectrum to brass and bronze – they are colder and white is already rather cold so we can balance that with warmer shades.
“We’ve done similar things in some of the other rooms where the furniture is white but broken up with oak drawers.”
>> Paul said: “Light and lighting are also exceptionally important in our designs.
“We always make sure there is lighting at various levels with wall lights, ceiling lights and inset lights to make sure the space works during the day and at night.
“In this apartment there is a single bedroom that we designed for the owners’ daughter.
“We created a working area as well as a sleeping area, using a visual barrier to divide the space without stopping the natural light from the window from coming into the space.
Textures and accents in a white marble bathroom
“It’s a playful area so we were able to bring more colour in here than in other parts of the apartment to add a bit more character.
“We also wanted something a bit grand for the principal bedroom and we continued the oak with panelling up the walls to do that.
“This is linked to an en suite via a glass door to let the light through – here we’re also introducing darker, more masculine tones against the feminine elements in the main room.
“We have a marble sink that mirrors the one in the main bathroom, but this time in a dark grey with a matching floor.
“The idea is again to create a balance.”
This two-room project saw a kitchen and living room refurbished
>> The final property we’re featuring from Rebirth is a two-room project.
While the company often tackles whole properties, it also takes on the refurbishment of specific spaces to add value to homes.
“This was a kitchen and living room in a duplex penthouse at a residential block in Malta,” said Paul.
“In the kitchen we’ve combined traditional Maltese styles with Scandinavian influences.
“For example, with the units we’re using warm timber tones in a modern approach to Shaker style and creating combinations which are anything but minimalistic, but still aren’t overwhelming.
While different the spaces are designed to respond to each other
“There’s a modern-looking island unit and a plain matte look for the work surfaces with a marble mosaic for the splash back.
“We’ve included different dimensions of white with elegant coving and green to bring the outdoors indoors to complement the traditional tiles.
“Once again, we’ve made sure there’s plenty of lighting with track lights, pendants and illumination over the splash back.
“It’s a dynamic space that isn’t too much.”
Colour has been used, inspired by the vibrant ceramic floor tiles
>> Rebirth’s strategy, inspired by the vibrant ceramics on the floor was not to shy away from visual complexity, but rather to frame and contain it within interior elements.
In the kitchen, that meant a wall unit housing a wine fridge, shelving and more plus plenty of display space in the living room.
“The lounge is much more subtle – still not minimalist – but softer,” said Malcolm.
“We’ve gone for white curtains, but we’ve also included plants to make it feel like a garden.
“Once more, we’re blending – the kitchen is perhaps more masculine while the living room is a more feminine space.
“To mix that up we have the black fireplace in the lounge, while the kitchen has the round dining chairs and the floral pattern on the floor.
“There are elements of bold black in both spaces and that helps to make sure that the transition from one room to the other really works.”
Plants have been employed to soften the space
>> Rebirth offers a full suite of interior services in London including individual room design and whole-home options.
The firm can handle full renovations including engineering tasks, right through to dressing properties ready for occupancy.
Specialising in refurbishments – hence the company’s name – the company offers everything from conceptual design to detailed drawings and renders, decor and furniture selection and project management.
While Malcolm’s background is in design, Paul is an architect by training, with the pair teaming up five years ago to go into business together.
- 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
