Canada Water's Quebec Quarter:new shared-ownership flats in Zone 2 from £124k

Canada Water is in its 16th year of regeneration. Get in now, as new homes, arts venues and shops are set to completely transform the area...

Canada Water as we know it today is really only as old as the 21st century. It was not until the Jubilee line was extended to reach this meander of the Thames, which sits across the water from the glitz of Canary Wharf, that housebuilders began to move in.

Now in its 16th year of regeneration, Canada Water has thousands of new flats. Cranes mark the spots where new buildings are rising from the ground.

One of the most important new developments in this area is Quebec Quarter, with up to 2,000 new homes being built at the former newspaper printworks where the Evening Standard used to roll off the presses. Over the next decade the 46-acre site will also have arts venues, shops, and a new campus for King’s College London.

FOR FIRST-TIMERS

Housing association L&Q is among the developers working on Quebec Quarter, and has just launched the first phase of 69 shared-ownership homes at the site aimed at first-time buyers priced off the mainstream property ladder.

Prices start from £123,750, for a 25 per cent share of a one bedroom flat with a full value of £495,000. Two-bedroom flats start from £150,000, for a 25 per cent share of a property valued at £600,000. Expressions of interest are being taken now at lqpricedin.co.uk.

 

MONTHLY COSTS:

For a one-bedroom flat buyers will need to raise a total deposit of just over £6,000.

Once their rent, mortgage payments and a service charge of £274 a month are taken into account, the total monthly cost of the property will be about £1,388.

Those wanting a two-bedroom flat will need £7,562 deposit, and their monthly costs will be £1,578.

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From £123,750: 25 per cent of a one-bedroom flat at Quebec Quarter, Canada Water through an L&Q housing association shared-ownership scheme

 

WELL CONNECTED

“Canada Water is currently undergoing a substantial transformation programme, with good transport links and is better value for money than some of its neighbours such as Bermondsey, Wapping and Canary Wharf,” says Cathy Lloyd, L&Q sales and marketing director.

The development comprises seven low-rise blocks close to the area’s two main green spaces — Russia Dock Woodland and Stave Hill Ecological Park. More than half of the site itself is dedicated to gardens and play areas, and all the flats have either a balcony or terrace.

A great selling point for Quebec Quarter is its accessibility, sitting between Canada Water and Surrey Quays stations in Zone 2, and just a couple of minutes from Canary Wharf’s offices and many shops and bars. In the future this journey could become a pleasure in itself if proposals for a pedestrian and cycle bridge from Rotherhithe to Canary Wharf come to life.

You can reach Waterloo in less than 10 minutes and Bond Street in under 15 — good news, as Canada Water has few local attractions. There are cafés and restaurants near the station, and Surrey Quays Shopping Centre has a cinema and chain restaurants including, in a blast from the past, a Spud U Like. But with the notable exception of the very welcome weekend Street Feast pop-up markets, you’ll struggle to shop. However, Bermondsey is only a Tube stop away.

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Quebec Quarter: up to 2,000 new homes are being built at the former newspaper printworks

 

THE KNOWLEDGE

Past: Canada Water was once part of the London Docks, and was used mainly by ships from Canada — no surprise there.

Future: Surrey Quays Shopping Centre, currently dreary, is due a full-scale revamp.

Trivial pursuit: terrapins thrive alongside native wildlife and birds at Canada Water. On clear, warm days they come out of the water to bask in the sunshine.

What it costs: an average property in the SE16 postcode costs just over £500,000 according to Rightmove.

Landmarks: the inverted pyramid-shaped Canada Water Library, by architect Piers Gough, is fabulous.

Eat and drink: Street Feast takes over Hawker House at weekends, with more than a dozen pop-up street food cafés and nine bars.

Buy: honey and candles made by the London Honey Company, which keeps hives at Stave Hill Ecological Park. The company also offers beekeeping courses for the brave.

Walk: visit Surrey Docks Farm — it’s a city farm with a great café.


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