London's regeneration rumbles on: futuristic new Silvertown pier to bring Thames Clipper commutes by the end of 2019

This dramatic new Thames pier is the latest milestone in the £3.5 billion regeneration of Silvertown, part of London’s Royal Docks.

By the end of this year a derelict jetty will be replaced by a 427ft public promenade stretching far out across the river, with a cantilevered timber roof and a public viewing deck, as well as docking stations for Thames Clipper boats offering services to Canary Wharf in 14 minutes. Journeys to London Bridge will take 26 minutes, while Waterloo will take 34 minutes.

Architects Nex say its design is a “playful” reinterpretation of “traditional British seaside piers”.

Silvertown is already served by Pontoon Dock DLR station, but for many commuters a short boat trip is a welcome alternative to starting the day on a packed train.

The regeneration of Silvertown will eventually also include a bridge over the Royal Docks to Custom House station, giving the area’s future residents super-fast links to the City and West End when Crossrail services begin.

Ballymore and Oxley are building some 3,385 new homes on part of the 62-acre site, which is just west of London City airport. The centrepiece will be Millennium Mills, a hulking Art Deco former flour mill, which will feature shops, bars and restaurants, plus workspace for start-up firms.

First-time buyers keen to get in early at Silvertown have the option of purchasing a 25 per cent share of a two-bedroom flat at Traders Quarter, Royal Wharf, priced at £126,250. Visit SiteSales.

At the other end of the scale, a four-bedroom townhouse at the Royal Wharf development by Ballymore is on sale for £1,253,250.

The area also still has a few streets of period terrace houses. A three-bedroom end-of-terrace home in Boxley Street is on sale through Purplebricks with an asking price of £600,000.

Chris Osmond, east London sales manager at Johns & Co estate agents, says E16’s great selling point is its comparative affordability which is helping to fuel sales in an otherwise difficult market. “While the whole E16 area has lots of construction taking place and plans for the next few years, the key thing is the competitiveness of its pricing relative to surrounding postcodes like Canary Wharf, where pricing is circa £800 to £1,100 per square foot. You can get similar-quality new-build properties from £600 to £800 in E16, so a marked discount for a similar product.

“Because of the price point, we are seeing first-timers buying one-bedroom apartments for the mid- to late-£300,000s. Families who work in Canary Wharf or the City are buying the houses, rather than going to Kent or Essex, because there is a real lack of houses in Canary Wharf itself.”

These early adopters are sacrificing convenience for affordability. At the moment, for shopping and nights out, all roads lead to Canary Wharf and beyond. But Osmond is confident that, as investment continues and the regeneration matures, “the area will continue to go from strength to strength”.