A new mega-development in Whitechapel, an emerging neighborhood transformed from an old industrial hub in East London, has officially launched sales.
Known as "The Silk District," the project is designed by Stockwell Architects and co-developed by Mount Anvil and L&Q. It will offer 450 residences in two towers, one 20 floors and the other 25 floors, as well as several low-rise buildings over four phases. The first phase will offer about 100 apartments.
More:A Grand, Italianate-Style Notting Hill Home
Prices will range from £445,000 to £825,000 (US$633,650 to US$1.17 million), and owners will enjoy a slew of luxury amenities both specific to each residence and shared communally, including private terraces, gardens, a 24-hour concierge, a fully equipped gym with spin studio, a cinema room with a private bar, as well as more than 35,000 square feet of café and office spaces and up to one acre of public space, according to the developers.
Sales launched in London on April 5 and international brokerage JLL is scheduled to present the development to buyers in Hong Kong this weekend.
Hong Kong buyers have for decades been active in London residential new development market, either for family use or investment purposes. In 2017, Hong Kong’s investment in London new homes totalled £315 million (US$448 million), according to U.K. based wealth manager Old Mutual International, citing data from the Office of National Statistics.
More:U.K. Housing Stock Sees an Over 40% Increase
Whitechapel’s industrial heritage dates back hundreds of years to the craftsmanship of the French Huguenots—the-silk weaving artisans who settled in the area during the 17th century. The area is home to institutions such as the Whitechapel Gallery, which exhibited Picasso’s masterpiece " Guernica" and Fotografiska London, which is set to become home to London’s largest photography gallery when it opens this year, according to the developers.
"Whitechapel is known for its vibrancy, its history, and its rich cultural scene, and has long been a destination for those looking to experience the next trend—whether it’s artistic, cultural or foodie," said Jon Hall, sales director of Mount Anvil, in a statement.
Further, with the upcoming arrival of Crossrail at Whitechapel station, residents will be able to commute to central London in less than 10 minutes.