how Vertus continues to evolve its rental o ering in Canary Wharf, with short stay options set to launch next year Pages 14-16
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Vertus Homes that will become available for long term rent by the end of 2027 1,300+
how Vertus has refined its tone as it looks towards the launch of new ways to live on the Canary Wharf estate
by Jon Massey
Things move fast in Canary Wharf. Already, in August 2024, it’s hard to remember a time when people weren’t living on the estate – such has been the interweaving of the blossoming residential community with the fabric of the place, a shift in mindset to becoming a truly 24/7 slice of London.
But in 2018 it was all still to come. That’s when Alastair Mullens took on the role of managing director at a newly minted Canary Wharf Group subsidiary called Vertus, created to handle the estate’s crop of build-to-rent (BTR) properties. At the time, BTR was still a relatively new concept in the capital and, indeed, the rest of the UK.
But, aiming to ape the success of well-established “multifamily” schemes in the USA and elsewhere, it was already gaining traction among developers who saw the potential advantages in terms of easier financing and steady income streams against the big revenue splashes of private sale.
“When I arrived, it was just me and one other member of staff,” said Alastair. “It looked like a very big mountain to climb. But now we have more than 75 people working at Vertus – the team did an amazing job and it’s been a really great journey.”
Specifically, the company has completely filled three buildings on the estate – 10 George Street and 8 Water Street in Wood Wharf and Newfoundland, which sits to the western edge of the estate.
Even within this relatively short space of time, however, there’s been a constant feel of agile evolution.
“Vertus was very much born out of Canary Wharf and initially it felt quite corporate,” said Alastair. “It was directed at a customer base we thought we were going to attract – the people who worked
on the estate, who could afford to rent through us. That was very successful and about 70% of the people who moved into the first phase of 10 George Street were those workers. Today though, that percentage is around 25% at full occupancy. It’s a change that has been driven by two things – the arrival of the Elizabeth Line and the way the pandemic has shifted things.
“People now have more flexibility for work and may not be in the office five days a week.
“They have more of a choice about where they live and many are choosing Canary Wharf, even if they don’t work here.”
It’s demand that’s perhaps unsurprising. The estate’s resurgence after Covid has seen a wealth of attractions arrive locally, prompting 67.2million people to visit in 2023. The latest figures for July show the month was 8.5% up on last year.
Canary Wharf is hot in a way that has nothing to do with the summer weather.
Its decision to embrace competitive socialising, an enhanced hospitality offering and even kids activities, has turned it from an area that was once overlooked to a place Londoners are actively seeking out. Less formal, less corporate – more fun, more relaxed.
While Vertus’s buildings are currently full, its journey is really only just beginning. In preparation for what’s to come, it’s softened its branding in line with
The brand now feels more homely rather than just a company providing places to live. Outwardly we’re softer, it feels more friendly
Alastair Mullens, Vertus
the Wharf of the mid 2020s and to reflect the greater flexibility it’s about to bring to the market.
“We’ve kept the name with the rebrand but have taken time to understand how our customers see us,” said Alastair.
“We’re not just a corporate landlord they’re renting from to get a good service. Words like ‘friendship’ and ‘interaction’ –both with fellow-residents and our team – are what we thrive on.
“The brand now feels more homely, rather than just a company providing places to live.
“Outwardly we’re far softer and we’ve done a lot of work on the tone of our voice so it feels friendlier.
“That’s both in our image and advertising, but also in our communications with residents. We’re delivering the same messages but in a less formal, more direct way.
“This has come from the way we’ve seen residents interact with our team – that they prefer to be addressed by their first names, for example. All of this is a shift in mentality – a change in the demographic living with us and, perhaps, the way in which people now feel about being less formal.
“Historically, the Canary Wharf estate has been very corporate. Aesthetically it’s been steel, glass and concrete.
‘But in recent years it’s softened too – green walls, green lamp posts and our collaboration with the Eden Project in Middle Dock.
“Then there’s the leisure offer, which has made it a more fun environment. A good example was when we held The North Face Climb Festival at Wood Wharf recently.
“Our team said residents saw the buzz and were attracted to it. Originally we marketed the area as a private estate filled with peace and tranquillity.
“Now we’re selling an environment that’s increasingly lively and fun – somewhere people really want to be.”
The good news for those who would also like to live locally is
Alastair has seen phenomenal demand for rental properties on the Canary Wharf estate
that Vertus is by no means done providing apartments.
“Two new towers at 50 and 60 Charter Street will see more than 750 Vertus apartments available to rent, with around 300 ready by the end of 2025 and the rest by mid-2026,” said Alastair.
“Then, 40 Charter Street completes at the end of 2027 with more than 550 properties. We’ve taken much of what we’ve learnt from our current buildings – how the concierge teams work, rolling out parcel delivery to individual apartments and offering more co-working space – and put this into these towers. They will give us another 1,300 BTR apartments in Canary Wharf.
“We’ve also learnt a lot about fostering community and, about a year ago, reimagined our resident engagement programme as Vertus Plus.
“This includes perks such as early access to new restaurant openings and discounts at retailers on the estate as well as an events team that works to arrange experiences for those living in our apartments.
“When you see a group going for dinner after an event, you know they have connected – we can bring people together, but it’s our residents who build the community. In order to support that, we are very much encouraging longer tenancies in our buildings.”
While the arrival of new properties will doubtless be welcome given the demand for tenancies in Vertus’ existing portfolio, the company is also further evolving its offering to appeal to those with different needs.
Vertus Edit offers 378 studios for more flexible, shorter stays –even for a single night.
“These are completing around the end of this year and will offer people the opportunity to stay in a Vertus product for a number of nights or months,” said Alastair.
“The studios are, on average, 17sq m and have everything a visitor needs.
“They’ve got small kitchenettes, with hobs, combination microwave ovens and enough storage for pots and pans.
“It’s a product that’s fun, colourful and funky. We’ve long been getting enquiries about short-term rentals and we are now able to say that there is an option.
“We’re using the equity in the Vertus brand for this because continued on Page 16
Vertus continues to evolve, with Vertus Edit o ering short-term, hotel-style stays on the Canary Wharf estate at Wood Wharf. The buildings are due for completion towards the end of this year and prices start at £100 per night based on two people sharing
o
studios complete with fully equipped kitchenettes for those keen to stay on the estate for days or months. The mini-apartments are pet friendly and are located at
and stations
Number of studios that will be available for short stays in Canary Wharf through Vertus Edit
from Page 15
people recognise it and Vertus Edit becomes that place to stay in Canary Wharf. Then, if someone enjoys a short-term stay in the area and sees what we have to offer, they may well decide to upgrade.”
As for the future, with Canary Wharf’s continued growth there’s still much more in the pipeline.
“We are developing North Quay, so the question is how we offer appropriate accommodation for people working in the life sciences space,” said Alastair.
“I’d also like to see a BTR product with reduced amenity. We’ve followed the American model and we offer a great product and great service but not everyone wants things like a big lounge, a gym or a cinema room.
“Some people just want to rent a good apartment that’s
well managed with high-speed broadband. I think if we could do something like that it would be well taken up with people paying a reduced rent for fewer amenities. There’s not a lot around like that in the market at the moment.
“This may also allow tenants to save more easily if they want to buy a property in the future.”
key details
More information about renting with Vertus and stays with Vertus Edit can be found online. Single night bookings for the latter start at £100 a night for two people. Discounts for longer stays are available. Go to thisisvertus.com
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Starting price for a three-bedroom penthouse at Warley HQ near Brentwood. A £1.4million property is also available £1.25million
how
the penthouse collection at Warley HQ by Land Charter is the pinnacle of an ambitious project
by Jon Massey
Developer Land Charter recently unveiled a collection of penthouses at its Warley HQ scheme in Brentwood. The apartments are the crowning glory of the firm’s detailed reimagining of a building that served as the Ford motor company’s European base for 54 years.
While other homes created through the works sit within TP Bennett’s original structure – itself designed to replicate the design of the firm’s Detroit headquarters –the latest releases are contained in a newly built section on its roof.
As part of the project, following Land Charter’s purchase of the building in 2019, its original architects, working alongside the John Finch Partnership were tasked with turning its floors into residential homes as well as adding two more storeys for the penthouses.
Prospective buyers can enjoy all the amenities of the building including The Deli Cafe and a metabolic gym on site. There’s also a co-working floor with a range of flexible workspaces, meeting rooms and hot desk options. Outside, Warley HQ boasts communal gardens complete with BBQ areas and table tennis, all surrounded by mature woodlands.
“For the penthouses themselves, you’ll go up in the lift and come into a show-stopping foyer, with beautiful lighting, exclusive to those apartments,” said James Sutton, sales manager at Land Charter.
“Then, once you go into the apartments, they all have private roof terraces. The views are out of this world – you get mindblowing sunrises and sunsets.
“Many views look out towards London and you can just see the towers of Canary Wharf in the distance.
“It’s just as impressive at night when everything is lit up as it is during the day with the woods surrounding the development.”
That visual link to London is telling. Nearby Brentwood station is on the Elizabeth Line, meaning rapid access to the capital is just a 20-minute walk from Warley HQ, offering residents smooth commuting and easy journeys into the likes of Soho and Oxford Street.
Once you go into the apartments, they all have roof terraces. The views are out of this world. You get mind-blowing sunrises and sunsets
James Sutton, Land Charter
That it’s located a whisker outside the M25 also means buyers can look forward to getting considerably more for their money than they would further into the urban sprawl.
Take the three-bedroom, three-bathroom penthouse for £1.25million for example. At nearly 2,000sq ft, it’s substantially larger in size than similarly priced apartments closer in.
It features open-plan design with high ceilings – replicating the feel of the rest of the development – alongside underfloor heating, a Rok fitted kitchen with integrated Bosch appliances and air conditioning.
Its expansive terrace is southfacing with views over the treetops towards the city. Oh, and it comes with two parking spaces.
“You’ve got full height glazing so there’s so much light coming into these properties,” said James.
“They have super impressive reception rooms that are picture postcard pretty because you’re walking into those views.
“Then you go out onto the terrace. Among the collection there are some real wow moments with high-vaulted ceilings.
“What you get here is all these facilities and the amenities in the town, but to live in a woodland setting.
“The penthouses really are the
final piece of the jigsaw for what is an iconic building.”
In addition to the penthouses, other properties at Warley HQ are available. Also generously sized, they present a compelling option for prospective purchasers, especially as interest rates begin to drop and mortgages become less expensive as a result.
key details
Warley HQ features landscaped grounds with communal gardens for residents to enjoy
Prices for the penthouses at Warley HQ start at £725,000. One and two-bedroom apartments at the development are also available with prices starting at £275,000 and £400,000 respectively. Viewings can be arranged via the sales team by emailing sales@landcharter.co.uk or calling 07958 228 343. Go to landcharter.co.uk or rightmove.co.uk for more information
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Apartments for sale on a shared ownership basis at SO
SO Resi Canning Town properties include fully fitted kitchens and bathrooms as well as private balconies and open-plan living areas
how SO Resi Canning Town’s 37 properties offer buyers a way to get on the ladder in a sought-after area
by Jon Massey
With Newham Council and the GLA’s £3.7billion regeneration project for Canning Town and the Royal Docks, the area is quickly becoming a sought-after area of London,” said Kevin Sims, director at SO Resi.
“The unpredictability of the housing market coupled with high pricing has been putting aspiring homeowners at a major disadvantage compared to previous generations of home buyers.
“At SO Resi, we aim to level the playing field by offering more opportunities for shared ownership solutions.”
In a bid to alleviate buyers’ affordability troubles in such a vibrant area, SO Resi – the shared ownership brand of Metropolitan Thames Valley Housing, the fifth largest housing association in the UK – is currently selling a collection of 37 apartments.
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 regeneration of 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. The development itself will add a newly created park as well as space for shops alongside the homes that are bring created.
The shared ownership properties themselves feature open-plan living areas, fully fitted kitchens with Zanussi appliances and solid timber floors.
All enjoy private balconies and feature built-in storage solutions, with living spaces ranging from 557 to 971sq ft.
“These properties at our Canning Town development are the perfect example of our aim,” said Kevin.
“Proposed plans from the council means the town centre is set to be home to a new community hub, cinema, shops and office spaces as well as brand new shared ownership homes, underscoring the increased popularity of this form of buying
At SO Resi we aim to level the playing field by offering more opportunities for shared ownership solutions
Kevin Sims, SO Resi
as an option for prospective homeowners.
“By choosing from our 37 shared ownership properties available at our SO Resi Canning Town development, prospective homeowners are set to gain a foothold in London’s property market alongside becoming a part of a vibrant and emerging community.”
Residents at the scheme 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 major bus interchange, meaning residents can easily access areas such as Bethnal Green, Aldgate, Walthamstow and even Romford.
Under shared ownership residents purchase between 25% and 75% of a home with a deposit of as little as 5%. They then pay rent on the remainder and can choose to purchase more of the property – as little as 1% per year if desired.
key details
SO Resi Canning Town is a collection of 37 apartments ranging in size from one-beds to three-beds. Prices at SO Resi Canning Town start at £96,875 for a 25% share of a one-bedroom apartment, based on a full market value of £387,500. Go to sharedownership.co.uk for more information about the scheme or to register your interest
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Shared ownership properties at SO Resi Canning Town are available now
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