South London Property: Royal Wharf
As Brexit negotiations begin and snap elections end the future of property and valuations are still on the minds of developers and investors. One concern has been the ability, particularly in London, for young families and the affordability of housing around the city.
Property developments that create a new multi-purpose neighbourhood within London continues with the Ballymore Group and Oxley Holdings Ltd project at Royal Wharf in the shadows of the financial district Canary Wharf. The first group of homes which are designed for young family buyers has just been launched and its location at the Thames Barrier Park, Crossrail and Docklands Rail access to the rest of the capital should make this a popular new residential enclave.
Royal Wharf Living
The first phase of affordable homes just became available this past month for potential buyers. The 310 mostly low-rise homes are just the beginning of the 3,385 residences that will feature riverside promenades, public squares, green spaces and parks. The designs are based on Georgian and Victorian style architecture. A new primary school and a new Docklands station will be available.
Diversity of home designs along with shops and other amenities are all part of the development.
Homes consist of spit-level two, three and four bedroom flats with largest as 2,461 in the mason-style Compass House and Latitude Building on the riverside. The units are described by the developer as:
“...generously proportioned kitchen and living areas, as well as views of the Thames, The O2 and Canary Wharf.’
Construction features include enhancing the biodiversity of the riverside location by using brown roofs, made from recycled materials to attract naturally local plants and wildlife. This feature helps with rainwater run-off and reduced the effects of a ‘heat island’ that is found in urban centres.
For residents and shops Royal Wharf will also have its share on 40 acres of riverside land with public squares and gardens, modelled after London estates.
Ballymore Group describes this new community as:
‘Importantly, the mix of homes, shops and other amenities will make for a lively and varied ground level.’
‘With both apartments and townhouses throughout the site, many homes will have front doors leading onto the street. People will come and go, meet and chat, linger at their doors: the interactions that make a place a community.’
Since the development is designed for families one of the attractions is the closeness to schools giving children and parents quicker and safer access going to and from home as well as the nearby shops.
The park-like settings by the developers was based on those that can be found in London estate settings such as Belgravia and Fitzrovia.
The designers have created what is to be a social hub in the centre of community :
‘...the ideal place for people to get together and meet more of their neighbours – a London rarity. The excitement and sociable aspects of sport creates a perfect platform for bringing people together.’
Leisure and sport facilities have been designed by David Morley who are known for the Lord’s Cricket Ground and five projects for the The Royal Parks including Regent’s Park and Primrose Hill. Walking, running and cycling paths are featured in the park areas.
As for high-street retail outlets the plans are described as:
‘But this will be no bland, generic urban centre. We’re creating opportunities for a variety of independent stores and bespoke services that will add texture and vitality to the whole development.’
One benefit is the expansion of transport infrastructure that has been planned to keep pace with the growth of Canary Wharf which is now home to the largest number of banking, financial and media professionals.