Wharf Life's Property Supplement, Apr 3-17, 2024

how the nal phase of homes at Notting Hill Genesis’ Royal Albert Wharf are set to go on sale in the spring Pages 15-17

how SO Resi Canning Town offers renters a less expensive way to live and own an E16 home

by Jon Massey

With rents in the capital continuing to soar, shared ownership schemes are having a bit of a moment. Typically purchasing a percentage of a property while paying rent on the remainder, even when a service charge is included, is generally cheaper than renting a comparable property nearby.

The advantages for prospective buyers are many. Chief among these perhaps are the relative security in comparison to the precarious situation of being a tenant, autonomy over the space and its decoration and crucially the ability to access the sales market with a considerably lower deposit than would be necessary to buy outright.

Canning Town is also having a moment. The area near the station has been undergoing extensive regeneration for years with plenty of new amenities arriving and much more still to come.

Highly connected, it’s a mere two stops on the Jubilee line from Canary Wharf and enjoys direct connections to London City Airport, Excel, Woolwich, Stratford and the City.

Shared ownership properties are set to go on sale at SO Resi Canning Town in May

An artist’s impression of Manor Road Quarter where SO Resi Canning Town’s shared ownership properties are located

READY TO VIEW

Aldria Road at a glance

■ Four bedrooms, with en suite to principal bedroom

■ 2,000sq ft of lavish living space to enjoy

■ Open-plan kitchen and family rooms

■ Underfloor heating to ground level

■ Garages integral to each house and large driveways

■ 35-minute drive to Canary Wharf

■ Close to local amenities and 10-minute drive to Basildon town centre

■ Four properties for sale at this location

One,

SO Resi is about to bring these two things together. The shared ownership brand of Metropolitan Thames Valley Housing – the fifth largest housing association in the UK – is set to unveil a collection of 37 apartments in May.

SO Resi Canning Town’s one, two and three-bedroom homes are located at Manor Road Quarter, the latest development by the English Cities Fund – which was also responsible for the scheme at nearby Rathbone Market.

The immediate area boasts a multitude of attractions, including craft beer at Husk, modern Italian food at Pepenero, a bouldering facility at Rise Climbing and outdoorsy activities at Bow Ecology Park and environmental community project Cody Dock.

Residents will be within walking distance of City Hall at Royal Docks, the home of the English National Ballet at London City Island and the art and heritage of Trinity Buoy Wharf. It’s a compelling offering, even before you factor in the bustle of Stratford, the Queen Elizabeth Olympic Park, Westfield Stratford City, Canary Wharf, The O2 and Greenwich Peninsula – all within two Tube stops or less.

Canning Town station is also a

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A lot of people are looking to avoid the rental trap who would never be able to a ord to buy on the open market – with rents rising fastest in London

major bus interchange, meaning residents can easily access areas such as Bethnal Green, Aldgate, Walthamstow and even Romford.

This is all evidence that, with a great deal more development in the pipeline, prices in E16 are likely to rise as demand for well-connected, regenerated parts of the capital increases.

SO Resi sales and marketing director, Kevin Sims, said: “It is no secret that London has become a place where a range of buyers are being priced out – especially first-time buyers.

“As such, the new SO Resi Canning Town scheme could be the perfect option for 2024.

“The scheme will allow continued on Page 14

Kevin Sims, SO Resi

two and three-bedroom homes will be available at SO Resi Canning Town, launching in Maye located

from Page 13

purchasers to buy a percentage share that they will pay a mortgage on, with the remainder being paid on below-market rent and then service charges too.

“A lot of people are looking to avoid the rental trap who would never be able to afford to buy on the open market – with rents rising the fastest in London.

“One of the biggest benefits of shared ownership at SO Resi Canning Town is that deposits are often considerably lower than buying on the open market.

“This is because you put a deposit down on the share that you’re buying – 25%, for example – rather than the value of the whole property. As an example, at our recent SO Resi Hendon Waterside development, a 5% deposit on a 25% share of a one-bedroom apartment could be as low as £4,129.

“If London is a place you aim to stay in for the long term too, staircasing is a brilliant way to continue along the journey to full home ownership.

“It’s possible to buy shares at any time – but we offer the SO Resi Plus scheme, which was pioneered by us, and has now been rolled out nationally.

“The scheme allows buyers to staircase at a gradual pace by purchasing an additional 1% share each year, which can be done at the touch of a button with no solicitors needed, making the ultimate goal of home ownership that little bit more achievable.

“Knowing this benefit is available to you throughout your journey should give you peace of mind – a purchase as little as 1% can make a world of difference in the long term.”

Shared ownership buyers purchase between 10% and 75% of a home and pay a capped rent on the remainder. Typically schemes offer 25% or more, however.

SO Resi Canning Town’s apartments are set to go on sale next month with a show home expected to open in June.

key details

SO Resi Canning Town is a collection of 37 apartments ranging in size from one-beds to three-beds. The properties are set to come on the market in May, with prices yet to be announced.

Go to soresi.co.uk for more information about the scheme or to register your interest

Scan this code to find out more about SO Resi Canning Town

25%

SO Resi Canning Town is located a few minutes’ walk from the area’s station with bus, DLR and Jubilee line services

Typical share purchased when buying a home through a shared ownership scheme. SO Resi Plus allows purchasers to staircase their ownership at 1% per year as they work towards owning outright

58

Apartments set to be released by NHG Homes in the final phase of its Royal Albert Wharf development in Royal Docks

final launching the homes

how latest apartments at Royal Albert Wharf are prospective buyers’ last chance to land a home at the scheme

by Jon Massey

Adecade and a half ago, Royal Albert Wharf looked very different. Located at the eastern end of Royal Albert Dock, with the curve of the Thames behind it, today the area’s 15-year regeneration project is approaching completion, with the launch of its final phase of properties.

NHG Homes is set to release 58 apartments for sale at the scheme in the spring, arranged around a communal garden square that opens onto the Thames Path riverside walkway.

Lined with trees, this route also leads to a children’s playground overlooking the river.

One, two and three-bedroom properties will be available, all featuring outdoor space in the form of balconies or private terraces.

Prices start at £375,000 for a one-bed with two and three-beds from £494,995 and £634,995 respectively.

Inside, the apartments feature open-plan design with Bosch appliances integrated into the kitchens, fitted wardrobes, built-in storage and separate washer-dryer cupboards.

The development also features a concierge service, a dedicated workspace and lounge area plus

parking included as standard with three-bedroom properties. All residents get access to cycle storage facilities and the on-site car club, should they need fourwheeled transportation.

In contrast to buying a home off-plan at a scheme where work is just starting or halfway through, the majority of Royal Albert Wharf’s amenities are already in place.

NHG Homes’ head of marketing and digital, Amie Triphook Cole, said: “Royal Albert Wharf has quickly become the place to be in the Royal Docks.

“There’s a flourishing community of creators, businesses, young professionals and families who call this neighbourhood home, and with this final phase of homes, now is the last chance to buy a new home at this award winning development.

“Our residents enjoy the perfect blend of riverside views, plentiful on-site amenities and access to lush green space, all continued on Page 16

An artist’s impression of how the final phase at Royal Albert Wharf will look when completed, with homes arranged around a garden square

Scan this code to find out more about Royal Albert Wharf

Parking is included as standard with all three-bedroom properties. Residents can also access an on-site car club

£375,000

from Page 15

within homes designed with active, convenient and modern living in mind.

“I encourage buyers to enquire with us today, so that they don’t miss out on this last opportunity to buy in one of east London’s most exciting areas.”

Royal Albert Wharf already enjoys a wealth of local amenities with food and drink served by the likes of the Well Bean Cafe and Cafe Spice Namaste, owned by celebrity chef Cyrus Todiwala and his wife Pervin.

There’s also a monthly market selling fresh produce, street food, arts and crafts and plans for an on-site gym, nursery and a convenience store.

The development is also home to a number of artists and makers in studio spaces administered by Bow Arts, as well as local creative collective Art In The Docks, which regularly hosts exhibitions and events.

Royal Albert Wharf is located within easy walking distance of Gallion’s Reach DLR station offering direct connections to a host of east London locations. It also connects residents to the Elizabeth Line at Custom House and the Jubilee line at Canning Town, both making for easy journeys to Canary Wharf and beyond. Prospective buyers will also likely be pleased at the prospect of a DLR extension to Thamesmead, an area undergoing three decades of regeneration.

The connectivity already in place means Royal Albert Wharf residents live within easy reach of the cultural and retail attractions of Stratford and Greenwich Peninsula as well as Canary Wharf. More locally, the University Of East London is within walking distance and Excel and City Hall are a few stops away on the DLR. The scheme is also close to Beckton Gateway retail park, which hosts big brands such as B&Q, Dunelm and Pets At Home.

key details

There are 58 properties available in the final phase of Royal Albert Wharf. Prices start at £375,000 for a one-bed and £494,995 for a two-bed. Three-beds start at £634,995 which includes parking as standard.

Go to nhghomes.com for more information

Scan this code to find out more about Royal Albert Wharf

Starting price for a one-bedroom apartment in the final phase of Royal Albert Wharf from NHG Homes

I encourage buyers to enquire with us today so that they don’t miss out on this last opportunity to buy in one of east London’s most exciting areas

case study: how we found a home in the Royal Docks

Nate and Bianca moved into a one-bedroom apartment at Royal Albert Wharf in April 2021. The first-time buyers purchased their home at NHG Homes’ east London scheme for £372,500 with a deposit of £56,000.

“We couldn’t find this quality and this location for the same price anywhere else,” said Nate, who works in cybersecurity in Canary Wharf. “I started renting in central London, moved north, then east and then, most recently, south of the river – I pretty much experienced it all over six years as a tenant.

“I decided my last rental experience would be the last – I’ve rented in shared flats, and on my own, and it’s never really an easy process.

“Buying an apartment is a big deal, but the NHG Homes sales team made every moment as easy as possible. It was probably the best experience of buying a house you could possibly have.”

Bianca, who works in the events sector in Woolwich, added: “We looked at quite a lot of properties but struggled to find a home that ticked all of our boxes.

“We wanted to find somewhere that gave us access to open space, fresh air and was close to the Thames, as well as giving us shorter journeys to work. Royal Albert Wharf was the perfect fit.”

Transport connections certainly helped sway the couple, with Nate especially impressed by his new commute and the development’s connections to airports.

“I used to travel an hour and 15 minutes to Canary Wharf, and now it only takes me 25 minutes door-to-door,” he said.

“I also fly frequently for work – travelling to Heathrow or Gatwick was such a pain and added hours onto each journey – but now London City Airport is very convenient and perfect for business travel. Knowing you’re half an hour from your front door when you land makes a big difference.”

For Bianca, the quality of the apartment, its features and facilities played a decisive role in the couple’s decision.

She said: “The apartment is really spacious, light, and bright – the layout is one of the things that encouraged us to buy here.

“We’d looked at quite a lot of properties within our budget and this floorplan was by far the best use of space we’d come across. It felt so much bigger than homes of a similar size.

“We were adamant about having enough space in the bedroom, which always tends to be the smallest space in a London flat. There’s also so much cabinet and wardrobe space.

“When we first came to view the property, we walked in the door and it was by far the best place that we’d seen.

“I could picture us living here immediately and planned out where everything was going to go – it was such an easy decision to make.”

Go to nhghomes.com to register your interest in one of the few remaining homes

Bianca and Nate decided to move to Royal Albert Wharf due to the quality of the apartment, the development’s transport connections and its proximity to the Thames

Amie Triphook Cole, NHG Homes

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