East London is about more than hipsters these days. Agents say that postcodes in “city fringe locations” are attracting more and more foreign buyers looking for a return on their investment. In Dalston, in the borough of Hackney, for example, average property prices reached over £500,000 (about $760,000) in the year to May 2015, according to Savills. The area is just two train stops east of Highbury & Islington, where the average property price, Knight Frank says, has just exceeded £1 million. FiftySevenEast is set to be a landmark new development in Dalston, signaling the arrival of luxury living in one of London’s trendiest districts. Presales, or off-plan sales, launch on Oct. 8.
Step outside: The tower, developed by Taylor Wimpey Central London, will be 15 stories with 83 apartments and penthouses. It will rise above Kingsland High Street in Dalston, a road that leads all the way into popular Shoreditch. It will be next door to Dalston Kingsland station, which links quickly to the financial districts of Canary Wharf and Liverpool Street.
Inside scope: The tower has been designed by the architecture practice Jestico + Whiles, whose other projects include the interiors of the famous London department store Fortnum & Mason, and high-end restaurants Aqua Shard and Hakkasan. All apartments will have open-plan layouts, a balcony or roof terrace, and wood floors in hallway, living and dining areas.
Notable: The eight Tower Suites will be a mix of one- and two-bedroom homes, with a choice of lateral or duplex styles. The two-bedroom suites are designed to have a private balcony, and some have a private roof terrace. The 15th floor will have a view of the London skyline, including the Gherkin and the Shard.
The numbers: Buyers can choose from 29 one beds, 29 two beds, four two-bed duplex apartments and 21 three-bed apartments. Prices start from £470,000 (about $710,000) and go up to about £1.5 million (about $2.3 million) for the Tower Suites. The first homes are due for completion in the third quarter of 2017.
Amenities: concierge service, a landscaped outdoor courtyard and bicycle storage.