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Property: How Barratt London’s Bermondsey Heights offers Zone 2 value

Developer’s South Bermondsey scheme is on the edge of major local regeneration projects

An artist’s impression of Barratt London’s Bermondsey Heights scheme

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“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.”

Alongside New Bermondsey, British Land’s 12-year redevelopment of Canada Water – complete with a new town centre – is also within walking distance of Barratt’s scheme and will benefit buyers.

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.

Find out more about Bermondsey Heights here

Read more: How Kircket is set to bring its Indian cuisine to Canary Wharf

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- 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
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Canada Water: How The Founding offers homes with views across London’s skyline

British Land and AustralianSuper’s regeneration of Canada Water see first homes hit the market

An artist’s impression of The Founding

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Just over a month ago, something momentous happened in London’s property market.

British Land and its partner, AustralianSuper, celebrated the topping out of their first phase of development at Canada Water

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. 

Find out more about The Founding here

Read more: How Kircket is set to bring its Indian cuisine to Canary Wharf

Read Wharf Life’s e-edition here

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- 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
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Canada Water: How Canada Water Dockside fits into regeneration plans

Art-Invest’s scheme to build offices on the edge of the water will see work at town centre’s heart

An artist's impression of how the office development might look
An artist’s impression of how the office development might look

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Art-Invest is doing something a bit unusual – at least in the context of the ongoing regeneration of Docklands, east and south-east London. 

The German developer recently received outline planning permission from Southwark Council for a scheme covering the former Decathlon store (now temporary events venue Dock X) on the edge of Canada Water.

But while rolling cranes onto such sites isn’t exactly out of the ordinary, the fact that it intends to build offices, is.

Art-Invest’s plans for Canada Water Dockside cover a chunk of land either side of Surrey Quays Road, including the now defunct Hawker House, adjacent to the 53 acres that developer British Land is currently engaged in regenerating. 

It’s a missing piece in the redevelopment of the area – a site originally earmarked for housing – that enjoys a lengthy stretch of dock edge and connects the British Land project with buildings already completed beside the Tube station.

Art-Invest’s plans are for a series of three buildings housing about 1.5million sq ft of space alongside community facilities and places to eat and drink at ground floor level. The scheme also promises to bring up to 10,000 jobs to the area.

“Back in 2019, there was an opportunity to get involved in this particular site, and we were very aware of what was happening in the area with British Land,” said Luka Vukotic, development director at Art-Invest.

“Given that the whole area was going to change from a residential district to a proper town centre, we thought it would be quite remarkable to help with that wider vision.

“What really attracted us to it was that it was already established, with existing communities all around it.

“As we were starting to consult with people, we realised how strong they were and how much local identity there already was. In addition, we were really attracted by the green and blue spaces of this place – its parks and its docks. 

“With British Land coming forward with a town centre, our scheme needed to be more than just a residential building with a boring ground floor.

“We wanted to create office space with lower levels that everyone could use – both occupiers and local communities.”

Art-Invest development director Luka Vukotic
Art-Invest development director Luka Vukotic

While many had questioned whether people would return to workplaces following the pandemic, Art-Invest remains confident that its plans have a place in the evolving way businesses and organisations operate.

“A lot of existing offices will become less attractive in the coming years for a number of reasons, some technical and some social,” said Luka. 

“We’re convinced we’ve got a really special location, so it’s now about how we make something really remarkable out of this opportunity.

“We want to help build this new town centre and to create the offices of the future. 

“What’s really helped us in this process was talking to the local community – I personally had more than 150 meetings with community stakeholders, local businesses, local residents and local groups. 

“We realised that people really like the idea of a town centre as a place to socialise – to have a drink and some food and to enjoy it.

“So then we asked people what they wanted to see and they said they would like so many things – a food hall, restaurants, local shops, a community centre, a health hub, a bike repair shop. They told us what they thought was missing.

“That allowed us to think about our buildings in a different way – instead of having a large reception area for the offices on the ground floor, we thought it would be amazing to make that space vibrant, to create streets and squares there, before looking at what’s above.”

The next round of consultations focused on what the office buildings themselves might be like.

“That’s when we started thinking about the urban green factor, with external space and terraces, and how we make this a car-free place, a zero-fossil fuel development,” said Luka.

“It’s how we’ve begun to develop the vision of what the office of the future will be. 

“That’s very different from the old thinking, where developers created these super buildings where you can spend the entire day without leaving.

“We thought it would be much nicer to deconstruct the building and ask what’s needed that’s not already there – then you can create a relatively simple development that plugs into the existing grid of facilities and amenities.

“We ended up with a planning application that has been really well received by the local community.

“That wasn’t surprising to us because of all the work we’d done.

“Now we’ve got the go-ahead, the next five to seven years are going to be really exciting, where we can actually put a lot more thought into what this development is going to be like – to bring more colour to what we have already shown.”

An artist's impression of how the ground floor of Canada Water Dockside might look
An artist’s impression of how the ground floor of Canada Water Dockside might look

Art-Invest is working with BIG Architects on the scheme, which will have an eye firmly on sustainability, aiming to create a net-zero development entirely powered by electricity.

“The office of the future is not the building itself, it’s the environment you’re creating,” said Luka. 

“Workplaces will be spaces where you come maybe three or four times a week, but not somewhere you’d come to sit at a desk for the whole day.

“When it comes to the buildings, we think that the look and feel of office blocks needs to change – they should be more welcoming. 

“Our intention is also to have lots of terraces. A lot of people complain about the weather in the UK, but I think for most of the year you can actually work outside, depending how cold it is

“We use the terrace quite extensively at our office for about eight or nine months of the year.

“Fresh air is very important to us – Canada Water has some of the cleanest air in London and we want to create buildings with opening windows, not sealed boxes that don’t feel very human.

“In the future, offices will also be places where you might come to meet other people and to do other things in addition to work that you wouldn’t necessarily do at home.

“That’s why we think Canada Water has a lot to offer – you can do all sorts of activities within a 500m radius. 

“For example, Decathlon are our next-door neighbours and with everything the area has to offer there’s an opportunity to encourage healthy lifestyles.

“When we engaged with Decathlon, we realised its vision aligns with what we’re trying to achieve in terms of healthy living, active transport, and so on.

“That’s why we have a partnership with them and have set aside a £200,000 fund to encourage health and wellbeing in Canada Water over the next five years.

“This is a grass-roots project, supporting what’s already here. 

“We are strong believers that we don’t need to create a place here – there’s already a place here – we just need to see if there’s something missing or if we can help with something that’s already in existence.

“I’d really like to thank everyone who’s been involved in the processes over the last couple of years – all those who have worked with our teams, but also all the stakeholders, the community and Southwark Council who will be engaging with us to make this a success.

“We feel that Canada Water is going to be the start of an amazing journey in the years to come.”

Art-Invest hopes to start construction in 2023 with its buildings coming in phases. Residents can expect some spaces to open by 2025 or 2026.

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