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from Wharf Life Property Supplement - Jan 25-Feb 8, 2023

by wharf-life

ways to buy in the

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Above and below, show home interiors and balcony at Brunel Street Works in Canning Town

by Jon Massey

Well located” is the phrase L&Q sales and marketing director Claire Brenlund uses to describe the shared ownership homes at Brunel Street Works.

The housing association is marketing a selection of affordable homes at the Canning Town development with one, two and three-beds on offer as well as maisonettes.

Built on a strip of land between Silvertown Way and the snaking DLR lines that connect the nearby station with Royal Docks and Woolwich, overlooking London City Island and the River Lea, the scheme has much to recommend it for prospective buyers who need to travel towards the City.

Located in TfL’s Zone 2/3, Canning Town offers cheaper journeys in the direction of central London than stops in Zone 3 itself. Canary Wharf is about five minutes from the transport interchange via the Jubilee line. L&Q’s properties lie about three minutes’ walk at a brisk pace from Canning Town’s platform.

From there, the Elizabeth Line is only two stops away on the DLR and destinations such as Stratford, Bank and Bow are all directly connected.

But what of the location itself?

Canning Town has seen a substantial amount of development in recent years as part of efforts to regenerate the wider Royal Docks area.

New residents, businesses and amenities have all arrived in significant numbers over the past decade with much more in the pipeline.

That means facilities such as Tian Tian Oriental Market, Rise Climbing Wall, Yapix wine bar, Chill #08 Bar and numerous gyms are now all within easy walking distance. Up the Lea, Bow Creek Ecology Park and further upstream, Cody Dock, offer further riparian attractions with a focus on wildlife and healthy living.

To the south Royal Docks is awash with water sports, bars, places to eat and an ever expanding community of its own, plus the cable car over the Thames to Greenwich Peninsula for those who would rather eschew one stop on the Tube.

It’s cheaper than Zone 2 as well. Prices for a newly built shared ownership property are around £9.35 less per square foot at Brunel Street Works than for a similar, albeit less well connected, home on the Isle Of Dogs with a comparable commute time to Canary Wharf.

That might not seem like much, but it’s more than £5,600 for a 606sq ft property – incidentally the size of the entry level one-bed at Brunel Street Works.

Prices start at £98,750 based on a 25% share of an apartment with a full market value of £395,000. Buyers would expect to pay a monthly rent of £568 on the remainder of the property. The minimum deposit is £9,875.

So what do you get for that? All shared ownership properties at Brunel Street Works are built to L&Q’s New Build Quality Standard, meaning buyers can expect integrated appliances in kitchens and bathrooms, large windows, video door entry systems, carpets in the bedrooms and lift access to all apartments. The development also has a 24-hour concierge service

Claire said: “The transformation of the Canning Town area forms part of a £3.7billion regeneration programme which is bringing new homes, public spaces, restaurants, cafés, shops and creative workspaces to this well-located area of London within a short walk of the Royal Docks.

“L&Q at Brunel Street Works has been designed by award-winning JTP Architects to provide modern, well-engineered homes which are built to stand the test of time.

“The industrial history of the area is reflected in the architecture of the buildings, which are punctuated by public green spaces for new buyers to enjoy, including rooftop gardens, which offer sweeping views across the east London skyline for residents to enjoy.”