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+ How buyers at The BeCa can get huge savings with London @ Last scheme Page 20
the curtain’s
how Galliard Homes’ The Stage is ready for buyers to move into immediately Page 18
Property in Canary Wharf, Docklands, east London buy - rent - invest - interiors - commercial
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Apartments contained within The Stage, a 37-storey tower by Galliard Homes The Stage has two basement levels packed with amenities
below above and
One of The Stage’s screening rooms
The 32nd floor sky lounge and terrace
The Stage is located in Shoreditch
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Property + Planning
how apartments at The Stage promise such stuff as dreams are made on, with buyers able to tour completed properties by Jon Massey
A
ll the world’s a stage, and all the men and women merely players. They have their exits and their entrances; and one man in his time plays many parts, his acts being seven ages”. While it’s almost certain Jaques isn’t describing The Stage development in Shoreditch by Galliard Homes when he utters these words in Shakespeare’s As You Like It, they nevertheless resonate pretty well with the scheme. Built on the site of the Bard’s Curtain Theatre whose remains were discovered during construction, the £750million, 37-storey tower has been seven years in the making rather than seven ages. It does, however, boast entrances and exits – although they are among the least of the attractions in a building of many parts. Its 412 apartments, ranging in size from studios to four-bedroom duplex penthouses sit atop a wealth of facilities in one of the capital’s most vibrant areas. Prices start at £750,000 for a studio, £830,000 for a one-bed, £1.3millon for a two-bed and £2.5milion for a three-bed. Prices for the penthouses have yet to be released, with rumours of a Valentine’s Day launch next year – apt, as the Curtain may well have been the site of the first performance of Romeo And Juliet. During construction, archaeological evidence was uncovered indicating the area was very much a cultural quarter in Elizabethan times with Londoners in crowds of up to 1,400 flocking there to see plays such as Henry V, and to eat and drink. As part of the development, the remains of The Curtain will be preserved as a major component of the new Museum Of Shakespeare, which is expected to open its doors next year. More immediately of concern, however, are the properties that tower above the forthcoming attraction. Tucked away off Great Eastern Street, a fiveminute walk from Liverpool Street, the structure offers impressive views over the surrounding area, especially to the north which has many buildings of lesser stature. “The really good news
here for buyers is that we’re finished,” said David Galman, sales director for The Stage. “We offer a brilliant customer journey for people interested in making a purchase. “When you’re selling off-plan, there’s less of a connection with the buyer. “Here, there’s an opportunity to build a relationship – a proper viewing at The Stage is a minimum of an hour.” That’s partly because there’s a lot to see. The tower’s two basement levels offer some 13,700sq ft of space staffed by a dedicated games and amenities concierge to ensure services are running smoothly. Facilities include a two-lane bowling alley, a golf simulator, a pool table, air hockey, table tennis and a selection of arcade games. There are also two screening rooms – both decorated with film posters of Shakespeare adaptations – a gym, changing rooms and a Yoga studio. The Stage also boasts a boardroom space and working facilities, including booths and a breakout area for use by residents. Then there’s the 32nd floor sky lounge and terrace, complete with a bar and seating area. Various facilities can be booked by residents for private parties and events through the 24-hour concierge service. “We always start by showing prospective buyers the amenity spaces,” said David. “Today’s buyers want access to state-ofthe-art amenities, and this is where The Stage stands out, with our underground amusement arcade, flexible workspaces and stunning sky terrace overlooking London. “We are very proud to show the lifestyle on offer, an unparalleled experience in a sought-after location. “Obviously, it’s a different conversation with an investor, who is primarily concerned with what a property will rent for and how much it’s likely to appreciate over time. “But these properties have got to be among the easiest to let in London at the moment. You just show people the amenities on offer.” As for the properties themselves, David said their size was a key selling point. Each includes a private balcony, oak engineered
David Galman
The Stage stands out, with our underground amusement arcade, flexible workspaces and stunning sky terrace overlooking London David Galman, The Stage
flooring as well as brushed bronze and exposed brickwork details. They boast mood lighting, multi-room speaker systems and bespoke entertainment units with 50” TVs and Sonos playbars. Kitchens come with oak units, white quartz worktops and Miele integrated appliances. Bathrooms feature ceramic herringbone tiles, white sanitaryware, Crittall-style shower doors and 22” TVs over the baths or in showers. Bedrooms come with full height fitted wardrobes and, along with living areas, benefit from comfort cooling systems. David said: “These properties and the communal areas of the building provide really great accommodation. “That might suit a domestic buyer, but The Stage is in an international location. People come to live in London from around the UK and around the world. There are also students who come here with parents who can afford to purchase apartments like these. “There are also three penthouses, which we’re not releasing to the market quite yet. “They are fabulous too, extending to between 2,200sq ft to 2,600sq ft and they are all duplexes. Each has good outside space and they offer stunning views.” The Stage is located on the edge of the City within easy walking distance of myriad amenities including Broadgate and Spitalfields. Nearby Liverpool Street station offers a multitude of Tube and rail connections. Total journey time to Canary Wharf is around 15 minutes via the Elizabeth Line. Go to thestageshoreditch.com for more information
Scan this code to find out more about The Stage in Shoreditch
Above and left, interiors at The Stage feature high-end finishes Below, the remains of The Curtain theatre are uncovered during work to build The Stage
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Total number of apartments in The BeCa with 170 available for private sale
how Avanton’s package of measures aims to bring down the price of properties at The BeCa in South Bermondsey by Jon Massey
V all properties at The BeCa have balconies with many boasting views over the London skyline
How interiors at The BeCa will look
alue is the topic on the lips of David Ronsons, sales and marketing director at Avanton. We’re talking about The BeCa, the first phase of the developer’s Ruby Triangle scheme, located in South Bermondsey just off the Old Kent Road. This £150million red brickclad structure takes its name and inspiration from the former industrial buildings of New York’s Tribeca neighbourhood – also the reason why it’s pronounced “becca” rather than “beaker”. The 170 apartments available for private sale within, form part of the 1,400 homes that Avanton is set to build on the five-acre site. It’s located around 22 minutes from Canary Wharf via bus and the Jubilee line from Canada Water, but could also be on the Tube if the mooted Bakerloo line extension to Lewisham is approved. It’s a tough time for buyers and those selling property at the moment. The cost of living crisis and high mortgage rates present a challenging landscape to those keen to get on the ladder and those servicing that market. As a counterweight, Avanton has come up with London @ Last, a three-part package of incentives aimed at first-time buyers to encourage them to purchase a home at The BeCa. “We’re concerned with the domestic market because you want to build a place that has a community in it – somewhere that has a soul,” said David. “If you sell everything to overseas investors, it has only transient tenants living there. “Our Coda scheme in Battersea is rated as one of the best places to live in south-west London and that’s because it has a community of owner-occupiers. That’s what we want to do with all our developments. “Typically first-time buyers are at a disadvantage when it comes to buying off-plan. The least expensive units typically offer the best rental yield for investors to pick up. “But prospective owner-occupiers, especially those feeling the pressure of the cost of living crisis are not in a posi-
tion to tie up money for long periods of time without the ability to access it. “With some developers, that could be as much as 25% of the purchase price and that’s one of the reasons we’ve created London @ Last.” The incentives on offer are threefold, amounting to a possible £40,000 saving on a property. Firstly, first-time buyers can exchange on a property with a 5% deposit under the scheme. Secondly, Avanton will put in a further 5% and cover legal fees for buyers using its recommended solicitor. This allows purchasers to take out 90% mortgages on the property rather than 95%. Thirdly, the developer says it will guarantee a 4.99% interest-only mortgage for a year. With rates coming down in any case, it will also likely reassess this to ensure it remains competitive. Avanton will also pay 10% interest per year on deposit money it is holding, payable on completion. “If your circumstances change prior to completion, we’ll give you back your money,” said David. “If not, we’ll pay you better than a bank to hold the money for you and we’re only taking 5% as a deposit. “It gives you the flex that, if something does happen, you have the ability to step out of the contract.” With starting prices for one-beds at £450,000 and two-beds at £585,000, the package presents the possibility of significant savings on the initial cost of buying a home. Avanton, however, isn’t only about deals in the short-term. David said the design of The BeCa had taken into consideration what residents actually wanted from a home rather than stuffing it full of facilities they may not want to use or pay for through their service charge. “We’ve been very conscious on this scheme regarding people’s affordability,” he said. “Some developers put in too many residential amenities within a block. We’re a little bit different. We look at what the key essentials are for people. At Coda, for example, we have some flexible workspace, meeting rooms, a small gym
and a 24-hour concierge service as well as two podium gardens. We completed these and the service charge has now come in at about £6 per sq ft. “If you look at the south-west market, that’s quite affordable in contrast to some developments with all the amenities under the sun, and the charge is around £13. If, before you’re even looking at the mortgage, you’re being hit with £10,000 of service charge a year, your average domestic buyer can’t afford it. That’s why some developments are primarily bought by investors from overseas who rent out these properties to transient tenants. “It’s one of the reasons 80% of our Coda scheme was sold to owner-occupiers who want to live there and not feel like they are being charged for amenities they are not actually going to be using. “This can be a deterrent for people considering buying into a scheme. With The BeCa, we’ve ensured the service charge is as low as it possibly can be. “We’re looking at £4.27 per sq ft and that will have a day porter, about 2,000sq ft of flexible workspace and residents’ access to three roof terraces. “In the current market, you have to look at specific locations where buyers can see real capital appreciation. Old Kent Road is the cheapest place you can buy in Zone 2. “Ultimately Ruby Triangle will become an extension of London Bridge and Bermondsey, where you have some of the best lifestyle amenities in London. “As the whole wider South Bermondsey regeneration takes place, you’ll see 20,000 new homes, 10,000 jobs, it’s going to change the place massively.” Even with all that change, Avanton is also addressing any concerns about connectivity with a further incentive. It’s offering buyers a free electric bike on completion or the cash equivalent off the purchase. For more information about London @ Last call 020 7052 5111 or go to thebeca.co.uk Scan this code to find out more about The BeCa at Ruby Triangle
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Property
helping with the
An artist’s impression of how The BeCa at Ruby Triangle in South Bermondsey will look when finished. The structure takes its design cues from the New York buildings of Tribeca
The BeCa features communal workspace and roof terraces for residents to use
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