Location is the key driver for Londoners when buying a home, and with the rarity and kudos of waterside living attracting a price premium, the long-term investment potential for those who buy in landmark new riverside developments could be invaluable. The Resident checks out London’s best buys by the water…
Words: Fiona Brandhorst
Waterside living appeals to many different buyers and could prove a shrewd investment. According to the latest Waterfront Report from Savills, the 27-mile stretch of river between Teddington Lock and the Royal Docks shows an average premium of 13.5% for second-hand waterfront flats within 100m of the river compared to those sold up to 1km away. For those who buy in a landmark new development with iconic views the long-term investment potential could be invaluable.
‘Location is the key driver for Londoners when buying a home,’ explains Darren McCormack, Sales and Marketing Director for Taylor Wimpey Central London. ‘Our latest scheme, Palace View, is perfectly positioned at the foot of Lambeth Bridge, a Grade II-listed landmark and one of London’s most iconic pieces of architecture.’ Palace View has 55 one, two and three-bedroom apartments and penthouses priced from £880,000.
One of the last significant river-fronting sites on the north bank of the Thames between Chelsea and the City is the Hutchinson Property Group’s Chelsea Waterfront. It’s just around the corner from Chelsea Harbour Pier, with the river bus service giving a speedy commute to The City and Canary Wharf.
Robin Gevell, Senior Marketing Manager at Hutchison Property Group, comments: ‘Master-planned by Sir Terry Farrell, these riverside apartments are also a fantastic long-term investment. Purchasers want to be part of an inclusive development that offers restaurants, retail and leisure facilities set within spectacular landscaped gardens.’ Each of the 709 one to five-bedroom apartments will have a private balcony or outside space. On the market with Savills, prices start from £1.55m.
Diana Alam, Head of Residential Development Sales at JLL, says: ‘There are only a finite number of apartments which can be developed along the River Thames and, as a result, these properties tend to come at a premium. Their river views alone will continue to achieve good prices, making them excellent investment opportunities.’
Battersea Roof Gardens and Prospect Place
Battersea Roof Gardens and Prospect Place at Battersea Power Station will have London’s newest pedestrian high street, The Electric Boulevard, at its heart, and the new Northern Line tube station within a minute’s walk for residents. Georgia Siri, Battersea Power Station Development Company UK Sales Director, says: ‘People crave a sense of space and light and waterside living helps with a sense of wellbeing, particularly when combined with access to large green spaces, like the 200-acre Battersea Park nearby. Due to the curve in the river, the views from Battersea Power Station take in landmarks including the Houses of Parliament, The London Eye, St Paul’s and the Shard.’ Two bedroom homes start from £1.2m.
Queen’s Wharf, Hammersmith
Queen’s Wharf in Hammersmith is being developed by Mount Anvil and FABRICA and will incorporate the redevelopment of the world-renowned Riverside Studios also providing a cinema, café and restaurant. The collection of 165 apartments will enjoy more than 100 metres of uninterrupted river frontage, offering breathtaking views of the Surrey Bend from the residents’ exclusive rooftop terrace. A new riverside walkway is also being created, the final link between Hammersmith Bridge and the
Mark Collins, Chairman of Residential at selling agent CBRE UK comments: ‘As we continue to recognise purchasers looking for high quality new-build development, Queen’s Wharf will undoubtedly appeal to those looking to further benefit from the area’s trend of positive price performance and robust buyer demand.’ Prices start from £715,000 for a one-bedroom apartment with first completions scheduled in 2017.
Fulham, Putney & Earlsfield
Barratt London’s Fulham Riverside has just launched a collection of eight town houses, a rare opportunity to own a new five-bedroom home located just a stone’s throw from the Thames. Each home features an integral car garage in the basement with a private lift to each of the five floors of living space and private terrace garden on third floor (prices on application). Riverside’s Riverwalk also offers spacious one and two-bedroom homes with impressive, direct riverfront views (prices from £930,000).
Along the river at Putney, Crest Nicholson has launched Tileman House, 56 one, two and three-bedroom apartments and penthouses on Upper Richmond Road, just minutes from Putney station and East Putney underground (prices start from £689,995).
Russell White from Winkworth’s Putney office says: ‘Good river views will add 20% to 25% to the price over similar properties in non-riverside locations.’
Set on the banks of the River Wandle, Linden Homes’ Westfield Waterside at Earlsfield is a collection of two and three-bedroom apartments and an exclusive set of three-bedroom houses (prices start from £714,950). Fitzroy Gate is a luxury gated estate of four, five and six-bedroom family homes by St James set within a beautifully-restored riverside estate in Old Isleworth. The development will create a new riverside footpath from Richmond Road to the existing Herons Place riverside walk. Many homes feature first-floor terraces with views to the River Thames (prices start from £1.25m).
City Wharf, Islington
Comprising 64 design-conscious studios, plus one, two and three-bedroom apartments, The Merchant Building by FABRICA overlooking the Regent’s Canal at City Wharf in N1 sets a new benchmark in quality and lifestyle for Zone 1 waterside living. Residents at the development will enjoy panoramic canal and city views from their private balconies and roof terraces. The creative hub of Tech City is close by. Prices start at £715,000 for a spacious two-bedroom, two-bathroom apartment.