Top of the wishlist: where young Londoners should look for good-value flats and a quick commute to the office
An open-plan kitchen-diner, balcony and parking space are staples on the first-time buyer wish list. An on-site gym and brunch venue are also desirable if the budget allows. But increasingly, being close to the office — in walking distance if possible — is a must-have.
In east London, a new eight-acre office and retail site is being built for Asian businesses wishing to open HQs in the capital. Designed to rival Canary Wharf and the City, this new business district is located on the former Royal Albert Dock next to London City airport, in a multibillion-pound deal struck between former mayor Boris Johnson and Chinese developer Advanced Business Park.
The first phase will launch next May, and housebuilders are developing within the individual inlets throughout the surrounding area, known as the Royal Group of Docks.
Galliard’s Orchard Wharf will be completed near East India DLR in Poplar E14 in 2021, with 338 one-, two- and three-bedroom flats. A 23-storey tower will have roof terraces, gardens and concierge. Prices start from £538,000 for a one-bedroom, 538sq ft home (galliardhomes.com/orchard-wharf).
Notting Hill Sales is transforming a derelict inlet nearby into Royal Albert Wharf, a new 1,500-home riverside community in E16. Prices start from £495,000 and the scheme is being sold through Savills. As well as being walkable to the new Asian business district, the Docklands Light Railway brings it within 15 minutes of Canary Wharf and 30 minutes of the City.
Michael Robson-Kiernan, the finance and operations manager for a classical music company based at Somerset House, has bought his first home at Royal Albert Wharf, with flatmate Barney Hughes who travels to Soho every day.
“We chose this area for the ease of its transport connections, and it will soon have Crossrail, too. With the construction of the Asian business centre and wider regeneration it’s a good investment,” says Michael, 28. He moved in last May. As an early regeneration site it was the most affordable Zone 3 home he could find. Anything else with a comparable price was in Zone 5. “I researched the location and saw the plans for the Asian business park, which looks set to have a huge impact on the area, and the Mayor’s plans for better trans-Thames links,” he adds.
“With the Elizabeth line opening nearby and the plans for Barking & Dagenham riverside further east, it seems that Royal Albert Wharf is nestled right in the middle of an exciting regeneration.”
This spring 850 workers moved into London’s newest corporate campus, Paddington Central.
Just over the A40 is Parker House where one-bedroom apartments are available for £585,000 with Help to Buy. This refurbished Victorian building has 19 flats, on sale via Hamptons International (parkerhousew2.co.uk; 020 8181 1154).
Grade II-listed Battersea Power Station, being restored and developed into a miniature town, has Circus West through BPS Estates (bpsestates.co.uk) with flats starting at £500,000.
On the other side of Clapham Common at The Metalworks, a blue plaque commemorates William Bainbridge Reynolds, who made the chapel gates at St Paul’s Cathedral. Of the 24 loft-style flats around a private cobbled courtyard, two are left, at £435,000 and £460,000 (themetalworks.london).