Live London Mar 16-30, 2022 by wharf-life

Mar 16-30, 2022 wharf-life.com

highest up to the

How a south London council made a scheme cheaper for local buyers Page 18

height

it may only be 12 storeys, but 8 Harbord Square does things a bit differently Pages 16-17

Property in Canary Wharf, Docklands, east London buy - rent - invest - interiors - commercial

Fast, affordable, conveyancing services Call our team on 020 7205 4021 or email cmiller@kiddrapinet.co.uk, ypatel@kiddrapinet.co.uk or mzvarykina@kiddrapinet.co.uk

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Wharf Life Mar 16-30, 2022 wharf-life.com

Storeys filled with loft apartments at 8 Harbord Square in Wood Wharf

how 8 Harbord Square’s topping out brings genuine warehouse apartments another step closer by Jon Massey

his isn’t the first time 8 Harbord Square has featured on these pages. But it deserves attention for a number of reasons. It might be comparatively small in stature – 12 storeys in stark contrast to some of Wood Wharf’s much taller towers – but this brick-built structure contains something genuinely exciting. True open-plan living. Developers have been writing these words in press releases for decades, usually meaning the kitchen and lounge of a flat have become a single space. The apartments at 8 Harbord Square take things a stage further. Apart from the bathrooms and the locations of the kitchens in the properties, buyers are completely free to use the space however they choose, with interior design services available if guidance is needed. Available in two sizes – the Gramercy at 1,037sq ft, and the Prospect at just over 800sq ft – the homes are presented as a blank canvas with unfinished concrete ceilings decorated only with a network of red and silver utility pipes for sprinklers and electricity. Buyers can also expect cast iron radiators, exposed brick and black metal windows, intended to recall the industrial loft conversions of Lower Manhattan. Construction efforts over the winter mean the building, which is located to the east of Canary Wharf’s newest district, recently reached its maximum height with work ongoing to finish it off.

I’m delighted that we’re moving forward at speed to create this exciting loft-inspired apartment building Brian De’Ath, Canary Wharf Group

Canary Wharf Group managing director of residential sales Brian De’ath, said: “This is a significant milestone for 8 Harbord Square, our latest residential development that sits at the heart of Wood Wharf. “I’m delighted that we’re moving forward at speed to create this exciting, loftinspired apartment building that brings a unique taste of Manhattan to Canary Wharf for first time.” The properties are arriving in a neighbourhood that’s rapidly emerging. Wood Wharf welcomed its first bricks and mortar restaurant – Emilia’s Crafted Pasta – to 12 George Street in March, joining nearby floating venue Hawksmoor and convenience store Amazon Fresh. More openings are on the horizon, with MMy Wood Wharf set to open at 10 George Street in the near future. Development-wise, more homes are also being built, with full planning permission granted recently for three new residential towers. A 53-storey build-to rent tower with a curved red metal mesh facade designed by KPF architects is set to be built on the edge of South Dock at 40 Charter Street, providing 552 apartments and 1,800sq m of retail space. Nearby 50 Charter Street’s 34 and 49-storey towers will contain 760 homes as well as 835sq m of retail space, a raised terrace and 1,700sq m of amenity space including a gym, communal work area and dining areas where residents can entertain guests. Designed by Grid Architects, the towers’ look has been inspired by the way timber was once stored on the site. Apartments at 8 Harbord Square start at £745,000. The marketing suite is available to view, with bookings via residential.sales@canarywharf.com Go to canarywharf.com/residential for more information Scan this code to find out more about 8 Harbord Square

All interior elements at 8 Harbord Square can be moved with the exception of the kitchens, above right, and the bathrooms

Above and below, show home interiors for 8 Harbord Square at the Wood Wharf marketing suite. Below right, an artist’s impression of the finished building

Wharf Life Mar 16-30, 2022 wharf-life.com

Property

Canary Wharf Group has topped out 8 Harbord Square at Wood Wharf

a milestone in

Wharf Life Mar 16-30, 2022 wharf-life.com

by Jon Massey

ewisham Homes is set to launch a collection of shared ownership apartments in late April. Wholly owned by Lewisham Council, but operated at arm’s length from the authority, the management organisation will sell 34 properties at No.1 Creekside, prioritising buyers who are living or working in the borough. The warehouse-style apartments will be the first homes sold by the council in this way, following its purchase of the site in 2020. That deal saw it acquire land with planning permission already granted and was the first time the authority had bought the freehold of a scheme with the intention of following through on such a development. Located close to Deptford Bridge DLR – which offers connections to Canary Wharf in less than 20 minutes – No.1 Creekside is also within easy walking distance of Deptford station for access to London Bridge and the many amenities and attractions of Deptford Market Yard and Deptford High Street. The council’s purchase of the scheme, which is being both built and sold by Lewisham Homes, meaning the development is now all designated as affordable housing. Under the original plans, 22 of the 56 properties had been set aside as social homes for families on the authority’s housing waiting list. what they say Lewisham Homes CEO Margaret Dodwell said: “The launch of No.1 Creekside, our first collection of shared ownership homes, is an exciting step for Lewisham Homes and we are proud to unveil this collection of highquality apartments that will offer outstanding modern living in a vibrant neighbourhood. “It is our priority to build genuinely affordable, high-quality

housing for local people, while helping to create and support diverse communities throughout Lewisham.” Lewisham Council cabinet member for housing and planning Cllr Paul Bell, said: “Our first shared ownership scheme will give local residents the opportunity to get on the housing ladder and is set to play an important role in tackling the housing crisis facing Lewisham. “I am proud that our shared ownership policy gives priority to Lewisham residents, making sure this development will genuinely benefit our local community.”

Shared ownership homes at No.1 Creekside near Deptford Bridge DLR

homes for the borough

properties at No.1 Creekside set to for shared ownership sales launch in late April

marketing pitch Shared ownership homes at No.1 Creekside range from one to three bedrooms and all come with private outdoor space. The properties are arranged across two buildings of six and eight storeys designed by Metropolitan Workshop. The blocks feature light and dark bricks, bronze-coloured metal and recessed balconies. The apartments’ interiors feature open-plan living space with high specification finishes promised. The development also includes 1,200sq m of commercial space with plans in place to include flexible workspaces within that. the area Deptford is going through an intense period of regeneration, reflected in its vibrant cultural and gastronomic scene. While The Albany has long attracted high quality performers and artists, more recent arrivals include restaurant Sharkbait ‘N’ Swim, Dirty Apron and bar Bluethroat, featured on Page 36. For more information about homes at No.1 Creekside go to lewishamhomes.org.uk

Scan this code to find out more about Lewisham Homes offering

The scheme includes commercial space

The development is split over two buildings of six and eight storeys

Wharf Life Mar 16-30, 2022 wharf-life.com

Property

An artist’s impression of No.1 Lewisham

Wharf Life Mar 16-30, 2022 wharf-life.com

£105k

Starting price for a 25% share of a one-bedroom shared ownership apartment at New Union Wharf

a chance to buy into that

A show home interior at New Union Wharf

first property An artist’s impression of L&Q’s New Union Wharf development on the Isle Of Dogs

shared ownership homes from L&Q at New Union Wharf are set to launch in the spring of 2022 advertising feature

roviding first-time buyers the opportunity to buy on the River hames ust a -minute walk rom Canary har , L is launching a range o one to three-bedroom shared ownership homes at New nion har on aturday, arch 1 . hared ownership is the government-backed, part-buy, part-rent scheme, which helps first-time buyers step onto the property ladder. hrough the scheme, buyers purchase an initial share o their home, between , paying a mortgage on the portion they own and rent on the remaining share. Over time, shared owners can purchase additional shares in their property until they own their home outright. L s collection o modern apartments at New nion har eatures flexible open-plan living spaces and private balconies or terraces. loor-to-ceiling windows enhance the view rom the apartments, while adding to the contemporary eel. he new collection o apartments marks the ourth phase o L s regeneration o the 1 s estate, building homes and reviving a significant stretch o the hames walkway opposite he O . rchitects estico hiles have designed a pattern o terraces and apartment buildings that make the most o the sought-a ter hames positioning, with -shaped blocks orientated towards the water, interspersed with landscaped gardens. Residents can en oy antastic amenities on their doorstep. s well as having the river to

en oy, residents will benefit rom expansive green space on their doorstep, including udchute Park and arm a 1 minute walk away. reenwich Park can also be reached in under minutes by bike – one o London s most recognised green spaces. New nion alk is a short walk rom Canary har and commuters are seven minutes on oot rom Crossharbour DLR station, where ourneys to Bank take 1 minutes. rom Canary har nderground station, residents can access the ubilee line, where ourneys into London Bridge take ust six minutes. Crossrail services rom the estate are expected to start running this year. or retail and dining, the sle O Dogs is home to spots like Lotus Chinese loating Restaurant, Pepper aint Ontiod, ian ian arket, La Nina Caffe ercato, he aterman s rms and he un. eanwhile, Canary har has over 1 shops spread across five malls, and a large array o restaurants, bars and pubs, rom gourmet street ood to fine dining. l Prices start at , or a one-bedroom apartment, with elp o Buy available on all homes under , . hared ownership prices start at 1 , or a share o a one-bedroom apartment based on a ull market value o , . wo-beds start at 1 , based on a ull market value o , . Go to lqhomes.com

Scan this code for more info about New Union Wharf

Wharf Life Mar 16-30, 2022 wharf-life.com

Property

contact Landmark Estates on 020 7515 0800 or email info@lmlondon.com for more about this property or similar homes on the agency’s books The development is on the banks of the Thames

The property has a large living and dining area and a separate kitchen Burrells Wharf, E14 Guide: £530,000 Leasehold

One to three-bedroom

Properties feature floor-to-ceiling windows

featured property

homes are available

This two-bedroom apartment is located in The Wheel House, overlooking Burrells Wharf Square. The property consists of a large living and dining space, a separate kitchen, an en suite bathroom to the principal bedroom and a main bathroom. It has access to a shared balcony. Located at raised ground floor level, the apartment also comes with underground parking, with space for visitors to park at street level. Facilities at the development include a communal BBQ area, a function room and a leisure centre with a gym, pool, jacuzzi and sauna. Canary Wharf can be accessed easily by bus or on foot. Go to lmlondon.com

Scan this code to find out more about this property The property is located at The Wheel House in Burrels Wharf

Wharf Life Mar 16-30, 2022 wharf-life.com

1, 2 & 3 bedroom Shared Ownership homes available from the 19th March Live close to Canary Wharf in a stunning riverside development with fantastic travel connections. Enjoy private outdoor space to every home, fully integrated appliances and landscaped green areas. Register your interest:

lqhomes.com/newunionwharf 0208 189 1572

Wharf Life Mar 16-30, 2022 wharf-life.com

GIVES YOU MORE POTENTIAL BUYERS, WHICH MEANS A BETTER PRICE FOR YOU. Call Felicity J Lord Canary Wharf on 020 7987 6776 or visit fjlord.co.uk/flink to learn more.

Wharf Life Mar 16-30, 2022 wharf-life.com

Estate Agents - Professional Services - Classifieds

Properties throughout Docklands, South and East London 4"-&4 t -&55*/(4 t 1301&35: ."/"(&.&/5

Advertise on this page Call 020 7293 2247 Email wharfads@trinitymirror.com

Call us now for a free, no obligation valuation 020 7515 0800 www.lmlondon.com REQUEST A valuation@lmlondon.com VALUATION

Fast, affordable, conveyancing services Call our team on 020 7205 4021 or email cmiller@kiddrapinet.co.uk, ypatel@kiddrapinet.co.uk or mzvarykina@kiddrapinet.co.uk

The market is moving, isn’t it time you did? Call 020 3941 9966 for a free valuation be part of the Canary Wharf conversation To advertise here call 07944 000 144 or email jess.maddison@wharf-life.com

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Wharf Life Mar 16-30, 2022 wharf-life.com

Relish the PICKLE FACTORY lifestyle RESERVE A ONE BEDROOM APARTMENT & WE WILL PAY YOUR STAMP DUTY * Over 85% sold and ready to move into in spring 2022, these luxurious warehouse style apar tments in vibrant Bermondsey are uniquely designed to reflect their industrial heritage. 1, 2 & 3 BEDROOM APARTMENTS FROM £705,000

BEST APARTMENT SCHEME

4 MINUTE WALK TO BERMONDSEY STREET

BERMONDSEY@LONDONSQUARE.CO.UK

12 MINUTE WALK TO LONDON BRIDGE STATION

0333 666 4343

21 MINUTE WALK TO BOROUGH MARKET

58 GRANGE ROAD, SE1 3BH

WATCH ME

WWW.LONDONSQUARE.CO.UK

*Stamp duty paid incentive in The Pickle Factory is applicable to 1 bedroom apartments only at full asking price. Reservation must take place by 31st March 2022. Terms and conditions apply, speak to a sales executive for further information. London Square reserves the right to withdraw this incentive at any time. Showhome photography is indicative only. Local area photography is of Bermondsey. Travel times are approximate and sourced from www.tfl.gov.uk. Details and prices are correct at time of going to press.

Wharf Life Mar 16-30, 2022 wharf-life.com

Canary Wharf

PROPERTY MARKET NEWS www.docklandspropertyblog.com

March 2022

2,928 Docklands landlords could be hit with £14k bills and red tape in Tory ‘Levelling Up’ plans. • Some Docklands landlords face bills of between £11,000 to £14,000 as Michael Gove, the Housing Minister, declared an attack on poor quality private rental homes.

Hello

I started my property career working for an independent estate agent in the Wapping area. Since 1994 I have been based in and around East London. I started my own company in 1995 and it has grown from humble beginnings to become a well respected sales, lettings and property management agency operating in the Docklands and East London areas. Then in 2007, I opened my first branch in the Medway area. I am proud that we now have three branches in Kent. My operation is set to expand in 2020 and beyond. I am a long term member of both the NAEA and ARLA and a former Regional Representative for the latter. As the owner of a growing residential and commercial property portfolio, I understand well the trials and tribulations that property owners go through. I have well over 20 years experience of regenerative Dock’s areas and specialise in new development reporting. I am happy to advise you on all aspects of property. So, if you are looking at your first buy-to-let (even if it is with another agency), or have trouble with a tenant, feel free to contact me. I offer honest and impartial advice.

Spencer Fortag

• 2,928 Docklands rental properties will require upgrading. The Government announced in their ‘Levelling Up’ White Paper last week, they plan to introduce a new minimum standard for private rental properties. • Also, the White Paper wants every landlord in Docklands (12,567 of you) to go on a Landlord Register and proposes the removal of Section 21 no-fault evictions. This could make it more difficult for you to get possession of your Docklands rental property. • Are these proposed changes another nail in the buy-to-let coffin for Docklands landlords? On the face of it, yes, it could be seen as another attack on the humble Docklands landlord, having to spend money on their properties and get tangled up with red tape on a register and then having no-fault evictions removed. Yet, as always, the devil is in the detail… This ‘Levelling Up Bill’ is a White Paper. White Papers are policy documents created by the existing Government that set out their future proposals for legislation. Many White Papers don’t even make it to the House of Commons to be debated on, and even then, it needs to be voted on by both Houses of Parliament before becoming law. Any changes are at least two or three years away, and that’s assuming it gets debated and subsequently approved. Many have said the White Paper is supposed to lay out how to resolve the problem of rebalancing the UK economy that is suffering from the highest level of regional

inequality than any G8 country. This is a gargantuan challenge…

yet the Levelling Up White Paper reads very much like a shopping list of great ideas without the means to pay for it. One of the 12 points in the White Paper was focusing on housing, with a plan to introduce a new minimum standard for rental properties, a landlord register and the removal of no-fault evictions (as an aside, there was also a mention of a possible reintroduction of Home Information Packs remember those from 2009!).

So, what does this mean for the landlords of the 12,567 private rental properties in Docklands? Sub Standard Rental Properties The proposed changes will mean rental homes in the private sector will have to meet two specific standards that the existing 11,913 social housing homes in Docklands currently need to meet. The first being called the ‘Decent Homes Standard’ (DHS) and the second, the Housing, Health and Safety Rating System (HHSRS) evaluation. Looking at data from the Government, there are 2,928 private rental properties in Docklands that are considered substandard under these two measures and each one would cost between £11,000 and £14,000 to bring up to the prescribed standard. That means…

the estimated total cost to improve the 2,928 Docklands properties, that are considered substandard, could be as high as £40,993,554. All of that would have to come out of the pockets of Docklands landlords! Continued on page 2

Wharf Life Mar 16-30, 2022 wharf-life.com

Continued from page 1 Yet both systems of standards (DHS & HHSRS) have been slated by many (even by the Government itself). The DHS criteria for the standard are as follows:ges. • It must meet the current statutory minimum standard for housing • It must be in a reasonable state of repair • It must have reasonably modern facilities and services • It must provide a reasonable degree of thermal comfort Note how the word ‘reasonable’ is used in three of the four points of the DHS. Reasonable is an arbitrary and a very much subjective point of view. It screams loopholes and get out clauses to me. Looking at the HHSRS, the Government announced just before the pandemic in June 2019 that the HHSRS would be revamped after it was found to be ‘complicated and inefficient to use’. Putting aside how one measures the standards, it is a simple fact that there are many Docklands rental properties that are substandard. I believe it right the Government have an ambition to halve the number of sub-standard private rentals by 2030. However, would it surprise you that…

in 2006, 46.7% of private rented homes in the UK were classed as substandard and today that has reduced, without any legislation, to 23.3%. One must ask if new legislation is now required? Also, if you recall in an article I wrote recently (drop me line if you would like me to send it to you), Docklands landlords will be faced with bringing their properties up to an energy rating (EPC) of C between 2026 and 2028 in legislation already announced. Most of the works to meet that EPC rating requirement will be the same works to meet this new DHS and HHSRS. Also, in that article, I discussed how the Government have suggested that certain allowances will be made for landlords on rental properties that can’t be improved. So, I think Docklands landlords should sit tight and let the Government shine more light on this in the coming months before any knee jerk reactions are made.

Landlord Register To be honest, there are several city/borough registers around the UK for landlords. Experience has shown they seem to add an extra level of bureaucracy and red tape. The register would be for every Docklands buy-to-let landlord and rogue landlords would be struck off whilst allowing tenants new redress rights. Another reason to employ the services of a letting agent to sort!

End of No-fault Evictions Again, I spoke about this a few weeks ago with the proposed removal of Section 21 to evict a tenant (again, if you want a copy, drop me a line). If you recall, I stated that no-fault evictions were removed in Scotland over four years ago and the apocalyptic suggestions it would kill the rental market for Scottish landlords was not forthcoming. Now of course, the Scots strengthened the

other grounds to evict a tenant. If the Government strengthen the Section 8 legislation, again, I cannot see this being an issue south of the border. Again, time will tell once the Government put more meat on the bones of the White Paper.

Conclusion Many of the announcements made in the Levelling Up White Paper are re-hashed proposed legislation that has been on the books for the last couple of years.

This White Paper is not another nail in the coffin of buy-to-let in Docklands. Yet, many commentators have cautioned that more landlords with substandard homes will sell up because of these proposed changes, warning the sell up would add to the private rental sector’s shortage of homes, thus pushing up rents. If that was true, that would increase rental returns on Docklands buy-to-let and attract more Docklands landlords into the sector, wouldn’t it? But if you don’t agree other Docklands landlords will buy these rental properties that other landlords are selling, who will buy their Docklands properties from them? It will be Docklands renters, who are now able to buy because the price has come down, meaning equilibrium should return to the market. This is all theoretical and there are shortages/gluts in specific locations. Let us not forget it was 12/18 months ago that rents were dropped by double digit percentage points in the space of a couple of months in the big cities. Those rent drops weren’t anything to do with landlords buying up City Centre rental properties, but demand plummeted with 20 something tenants moving back in with their parents during the first lockdown and the months that followed. Yet, now rents have bounced back to pre-pandemic levels (and more) with the return of tenants to the cities.

This White Paper is not another nail in the coffin of buy-to-let in Docklands. Few of them will be left empty because most of them will be bought by other Docklands landlords as they will be attracted to the sector as inflation takes hold whilst others will be bought by first-time buyers. What goes around, comes around. So, let’s see what happens in the coming months. In the meantime, if you’re a Docklands landlord and you want to discuss anything in this article, please either drop me a line or send me an email. One place for more information is my Docklands Property Market blog. If you are a landlord or thinking of becoming one for the first time, and you want to read more articles like this about the Docklands property market together with regular postings on what I consider the best buy to let deals in the Docklands area, then it is well worth reading. You can also email via spencer@lmlondon.com If you are in the area feel free to pop into the office which is based at Landmark Estates, 264 Westferry Road, London, E14 3AG

Would you like to know how much your property is worth without having to speak to a pesky estate agent? We are offering a FREE and INSTANT online valuation service. Simply visit: Https://valuation.lmlondon.com enter your address and hey presto, a current rental and sales valuation.

Spencer Fortag Sales Director

T: 020 7515 0800

www.lmlondon.com www.facebook.com/LandmarkEstates/ www.twitter.com/Landmark_E14 www.linkedin.com/in/dockside-property-services-88b45339/

For your free Docklands property reports visit: www.docklandspropertyblog.com

Wharf Life Mar 16-30, 2022 wharf-life.com

RATHBONE MARKET, E16 £1,500 PCM - FURNISHED

HAMPTON TOWER, E14 £5,200 PCM - FURNISHED

This recently refurbished fourth floor one bedroom apartment has been finished and furnished in a modern and contemporary style and benefits from wooden flooring and a balcony. EPC: B

This stunning three-bedroom apartment is situated on the 44th floor of Hampton Tower within the exclusive South Quay Plaza development. Finished to an exacting standard. EPC: B

020 4502 7189 canarywharf@hamptons.co.uk

WATERGATE WALK, E14 £3,466 PCM - FURNISHED

CIRCUS APARTMENTS, E14 £3,813 PCM - FURNISHED

Short let all bills included - one bed serviced apartment with views over Canary Wharf. Includes weekly housekeeping, 24hr security, wi-fi and access to a shared roof terrace. EPC: B

A stunning two bedroom apartment situated in the heart of Canary Wharf. Residents can access a communal TV room, lounge and terrace. Parking available by separate negotiation. EPC: C

020 4502 7189 canarywharf@hamptons.co.uk

HAMPTONS.CO.UK

Wharf Life Mar 16-30, 2022 wharf-life.com

RATHBONE MARKET, E16 £350,000 LEASEHOLD

ONTARIO TOWER, E14 £395,000 LEASEHOLD

GALAXY BUILDINGS, E14 £389,995 LEASEHOLD

A spacious and well-proportioned one bedroom apartment, located within a modern purpose built development. The property benefits from access to a large balcony. EPC: B

Positioned high up on the 20th floor of this iconic Canary Wharf riverside development is this stunning one bedroom apartment. Finished to a high specification it must be seen. EPC: C

Spread across the third floor of this fully private riverside development is this huge one bedroom apartment with balcony offering southerly views towards the River Thames. EPC: C

020 3930 4069 canarywharf@hamptons.co.uk

ST DAVID’S SQUARE, E14 £650K-£675K LEASEHOLD

THOMAS ROAD, E3 £400,000 LEASEHOLD

SIREEN APARTMENTS, E3 £425,000 LEASEHOLD

This huge 1256sq ft top floor duplex apartment offers a flexible living and home working space and comes with a large private south facing balcony with views towards The River Thames. EPC: D

This light, spacious one double bedroom apartment has direct views over the Regent’s Canal and a large private balcony. Residents have access to a wellequipped gym and concierge. EPC: B

This smart top floor apartment is in immaculate condition and located within this stunning listed development recently built by Linden Homes. Offering tranquil woodland views from all rooms. EPC: B

020 3930 4069 canarywharf@hamptons.co.uk

HAMPTONS.CO.UK

Wharf Life Mar 16-30, 2022 wharf-life.com