By many measures, the central London real estate market is a bit wobbly. The stamp duty changes from December 2014 precipitated a price drop that’s been worsened by the uncertainty surrounding Brexit. And now, with the Conservative Party’s lost majority in Parliament last week, there’s even more uncertainty surrounding the U.K.’s political climate and the future of Brexit.
According to a report from Savills, there has been a 4.8% fall in central London sales prices during the six months leading up to December 2016, with an overall fall of an average of 6.1% from the market’s peak in 2014.
However, forecasters have reason to be optimistic in the long term, the research firm found, as the markets adjust to the stamp tax changes. Also, London is undeniably still a global financial capital that appeals to many (perhaps even more buyers, as they look to grab “deals”).
With this in mind, there are many new projects coming to the city this summer, ones that suit every taste and are located in a wide variety of up-and-coming neighborhoods.
Landmark Pinnacle, Westferry Road, Canary Wharf
On the western side of Canary Wharf, this building, which launched sales in May, is set to be one of Europe’s tallest towers, at 784 feet and 75 stories, providing amazing views of London. This Squire & Partners tower has a full floor of amenities, offering services such as a private dining room, a lounge, a fitness center and much more.
Number of units: 752
Price range: Studios from £425,000 (US$551,000), one-bedrooms from £530,000 (US$687,000), two-bedrooms from £785,000 (US$1.02 million), and three-bedrooms (on 65-73rd floors) from £1.55 million(US$2 million)
Developer/architect: Chalegrove Properties Ltd. (CPL)/Squire and Partners
Apartment sizes: Studios through three-bedrooms
Amenities: Private dining room, lounge, fitness center, leisure and entertainment facilities, a children’s play area, cinema, game room, golf simulator, underground parking, rooftop garden and 24-hour concierge
Website: Landmark Pinnacle
A building embracing graffiti.
— Mansion Global (@MansionGlobal) June 3, 2017
Discovery Tower, Hallsville Quarter, Canning Town
This project, made up of 50 open-plan homes, is the last launch in the Discovery Tower in East London, which is the centerpiece of a new community, Hallsville Quarter, a £600 million new town center by Bouygues Development, which includes 1,100 residences, a main street, movie theater and hotel. The apartments offer a quick turnaround, as the launch is set for the middle of June and move-ins will start in October. The 17-story tower offers a concierge, an architect-designed sky garden on the top floor with stunning views, a fitness center and 24-hour security in a vibrant, up and coming part of the city.
Number of units: 50
Price range: One bedrooms from £430,000 (US$550,658), two bedrooms from £540,000, and three bedrooms from £600,000
Developer/architect: Mountain Capital and Knight Frank, in partnership with Bouygues Development/John McAslan + Partners
Apartment sizes: Studios through three bedrooms
Amenities: Architect designed sky garden, fitness center, concierge, 24-hour security
Website: Discovery Tower
Battersea Exchange, 155 Battersea Park Road, Battersea
Mid-June marks the launch of the third phase of the ambitious Battersea Exchange project, a massive development close to Battersea Park. Phase three includes a 14-story building with 46 apartments, that includes a roof terrace offering views of Battersea Park. Designed by the architecture firm Feilden Clegg Bradley, the 290-home Battersea Exchange has a pedestrian route linking two over-ground tube stations, as well as public outdoor space and retail options. It is also next to New Covent Garden Market, the largest fruit and vegetable market in the U.K., and close to the Battersea Power Station. Transport options to central London are plentiful—five minutes to London Victoria and nine minutes to Waterloo by the mainline train stations, with further Northern Line service to the area on the way in 2020.
Number of units: 46
Price range: Starting from £595,000 (US$770,947)
Developer/architect: Taylor Wimpey Central London/Feilden Clegg Bradley
Apartment sizes: One- to three-bedroom units
Amenities: Transport hub, retail, gym, concierge, access to terrace or winter garden.
Website: Battersea Exchange
A posh location is no longer the primary driver of buyer demand in London’s luxury residential development https://t.co/GKOnjSXmBV pic.twitter.com/VYvQEcWOCL
— Mansion Global (@MansionGlobal) May 16, 2017
Palace View, 1 Lambeth High Street, Lambeth
This project, launching in mid-June, has a spectacular address, overlooking the medieval Lambeth Palace on the Thames, the Archbishop of Canterbury’s London residence. The 55 apartments and penthouses are divided into one-, two- and three-bedroom apartments. It was designed to maximize views of the surroundings and bring a modern touch to a very old part of the city, with a curved, eight-story brick façade and copper detailing. The interiors feature floor-to-ceiling windows, bespoke lighting, open-plan layouts and outdoor space for each unit—either a terrace, balcony or winter garden. The first units are slated for completion at the end of 2017 or the beginning of next year.
Number of units: 55
Price range: From £880,000 (US$1.13 million)
Developer: Taylor Wimpey Central London
Apartment sizes: One- to three-bedroom apartments
Amenities: Floor-to-ceiling windows, bespoke lighting, open-plan layouts and outdoor space for each unit. Building amenities include a cinema, concierge services, underground parking, fitness center and landscaped courtyard
Website: Palace View
White City Living, White City
The first portion of the nearly 1,500-home project, White City, is slated to open sales in August or September. The 10-acre, master-planned project is going to be the centerpiece of regeneration of a Zone 2 part of West London. The project will include retail and commercial spaces and a five-acre park in addition to apartments. The white concrete façade, designed by architect Patel Taylor, was influenced both by the original White City, where the exhibition halls of the 1908 Franco-British Exhibition were covered in white stone, as well as the skylines of American cities such as New York and Chicago. The neighborhood is home to Imperial College, Westfield London, and BBC Worldwide, and and is located 15 minutes from Central London.
Number of units: 118 units in this launch
Price range: From around £620,000 (US$810,000)
Developer: St. James (Berkeley Group)
Apartment sizes: Studios, one-, two- and three-bedroom apartments
Amenities: Concierge service, two cinema rooms, and an entertainment suite, business lounge, spa, swimming pool
Website: White City Living
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