how Peabody’s St Olave’s scheme in Canada Water is o ering shared ownership homes in south-east London Pages 14-15
ownership
An
how St Olave’s provides shared ownership options for prospective buyers considering a move to Canada Water
by Jon Massey
Acollection of shared ownership properties are set to be launched in Canada Water this month. Housing association Peabody will officially unveil the one, two and three-bedroom apartments at St Olave’s in Lower Road on March 29.
Located close to Southwark Park, the scheme comprises a total of 62 affordable homes, with 48 designated for sale through shared ownership.
“Nestled between the vibrancy of Canada Water and charm of Rotherhithe, St Olave’s is surrounded by an effortless blend of old and new,” said Terence O’Connor, head of sales for St Olave’s at Peabody New Homes.
“Historic trading docks that once saw The Mayflower set sail to America, are now waterside hubs for enjoying life’s simple pleasures and new retail, leisure and community spaces are all within easy reach.
“With fast transport links available from Canada Water Station, St Olave’s is ideally located for those looking to enjoy life in Southwark and beyond.”
The open-plan properties feature fitted kitchens with matte green handleless base units, oak laminate wall units, marble effect worktops and integrated appliances.
Bathrooms boast porcelain tiles to the floor and walls with white
fitting and chrome details. Each apartment comes with underfloor heating in all rooms and private outdoor space as well as access to a communal roof terrace.
The development is located within easy walking distance of Canada Water Station which offers access to Canary Wharf and the City via the Jubilee line and east and south London via the Windrush Line (part of the Overground network).
Local attractions include the many facilities of Canada Water which is currently undergoing massive regeneration.
St Olave’s is also close to Bermondsey and London Bridge with their many breweries, street food markets, restaurants, cafes, bars and pubs.
In addition to the open spaces of Southwark Park, which include tennis courts, cricket pitches and a bowls club, the scheme is also within walking distance of Russia Dock woodland.
With a great deal of building planned over the coming years, Canada Water is likely to become a major new urban centre as residents, businesses and other organisations move to the area.
With that prospect, there’s a sense that house prices are likely to rise locally as new amenities arrive as part of the regeneration efforts.
Rightmove reports that the average cost of a home in the area is currently £576,829 over the last 12 months. This is 8% up on the previous year, albeit still 5% down on the 2017 peak of £604,280.
With fast transport links from Canada Water Station, St Olave’s is ideally located for those looking to enjoy life in Southwark
Terence O’Connor, Peabody New Homes
There will be some new infrastructure too, with an upgraded electric cross-river ferry service from Uber Boat By Thames Clippers set to launch this year. St Olave’s is also close to the Rotherhithe Tunnel, providing an easy route for drivers to get across the river. However, with the Blackwall and Silvertown Tunnels soon to start charging vehicles to cross at Greenwich Peninsula, the impact on traffic locally remains to be seen as Rotherhithe will remain free to use.
key details
Prices at St Olave’s start at £116,875 for a 25% share of a one-bed, based on a full market value of £467,500. Go to peabodynewhomes.co.uk for more information
The developer is aiming to put in a planning application for 77 Marsh Wall this summer
how a towering structure at 77 Marsh Wall aims to house around 900 new rental homes
by Jon Massey
Proposals are being worked up to redevelop 77 Marsh Wall. Currently office block Sierra Quebec Bravo sits on the plot, occupying the corner of Millwall Cutting and West India South Dock. It’s also home to street food market Canary Garden and provides access to arts venue Theatreship.
Areli Developments, together with architects Patel Taylor, are currently engaged in a public consultation on their ideas to demolish the existing building and replace it with a tower.
While plans are at an early stage, the mixed use scheme could include a blend of co-living space, an aparthotel and apartments for private rent as well as affordable housing.
According to the consultation website, the development will “be a residential led scheme, with a mix of types of homes and tenures. The mix of tenures will allow residents to stay for any length of time, whether that be one night, two years or more”.
Occupation will, however, be on a rental basis with no mention of apartments for sale in what will likely be the latest tall tower to arrive on the strip of land south of Canary Wharf.
The consortium says its vision includes providing 900 residential units, offering flexibility for those moving in and aimed at attracting a range of inhabitants.
Alongside the accommodation, it promises to provide leisure amenities, green spaces, a lounge, gyms, shops, cafes and bars.
Early sketches show three connected towers set on a communal plinth that will have spaces for “residents’, community and public use”. Public space will be partially sheltered, allowing people to spill out of the building at street level without getting wet.
The developer says the plans will create a new waterside destination on Marsh Wall, provide jobs both during construction and in the future, deliver opportunities for a programme of activities including a market and community events and deliver new cafes and restaurants.
The scheme aims to create “a place for people at all stages in life – for families, couples or individuals”. Many developers have turned away from building homes for sale in recent years in favour of build-to-rent. The advantage is these projects are often easier to finance with the promise of steady returns. However, they can also lead to more unstable communities with people having less security over whether they remain in a property long-term.
key details
The public consultation on 77 Marsh Wall ends on March 31. Interested parties are invited to have their say on the proposals via an online survey. You can also email your thoughts to 77marshwall@kandaconsulting.co.uk
Go to 77marshwall.co.uk for more information
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