Riverside residence has it all
The launch of The Tower, a new luxury residential development in the heart of central London, will give investors the chance to be part of a truly unique project.
At 50 storeys and 180 metres high, it is set to be one of the tallest residential buildings in Europe, offering not just spectacular views across the historic landmarks of London's famous skyline, but also providing the pinnacle of sophisticated city living.
Designed by award-winning architects Broadway Malyan, The Tower is located at One St George Wharf in London SW8, on the south bank of the Thames. It will feature 223 highly specific and much coveted homes. These will include one-, two- and three-bedroom apartments, two duplex units and a stunning triplex penthouse.
'We anticipate very strong demand from Hong Kong because it is an educated market with a proven track record of investing in central London property,' says Mark Griffiths, managing director of St George South London, which is developing The Tower.
Piers Brunner, Asia CEO for Colliers International, which is marketing The Tower in Hong Kong, says the timing is good for anyone looking to invest in the British property market.
'The overall sentiment in Asia towards British properties is generally positive and, with interest rates near insignificant, many investors are looking to diversify their portfolios,' Brunner says. 'Core districts, such as London, are normally regarded as safe buys and, for Asian investors, there is a confluence of factors and the view that there is room for growth in [property] prices in Britain.'
Work on The Tower's superstructure began in February, with completion scheduled for the winter of 2013-2014. The plans call for every apartment to have floor-to-ceiling windows with aluminium powder-coated framing. To make best use of natural light and to save energy, the triple-glazed fa?ade will have remote-controlled integrated blinds, while the building will use central ventilation methods to regulate the temperature in the apartments and reduce reliance on heating and cooling systems.
Other green initiatives will include a wind turbine on the roof and sky gardens for residents to enjoy.
Griffiths says The Tower will be one of the most environmentally sustainable developments of its type. Overall, it will use just 30 per cent of the gas or electricity consumption of a comparable building while reducing carbon dioxide emissions by 30-60 per cent, he explains.
The interior features for each apartment will include fitted Bulthaup kitchens with high-quality appliances and slimline Corian worktops. Bathrooms will come with walk-in showers, baths set within a stone surround, and chrome-finish taps and fixtures.
Bedrooms and living areas will be equipped with a discreet, fully fitted home entertainment system with ceiling speakers and the latest in high-definition television screens.
It could also be possible to consider special requests for tailor-made features within the context of the overall development.
'For example, a number of high-net-worth individuals have asked to combine all the units on a floor plate to have an apartment with 360-degree views,' Griffiths says.
The property will be managed by Harrods Asset Management, which will provide hotel-style facilities exclusive to residents. These will incorporate a business lounge, private dining provided by a chef's kitchen, a private screening room and a whole floor dedicated for use as a health and fitness centre. Among other attractions, the latter will offer a state-of-the-art gym, sauna, steam room and an infinity swimming pool.
'House prices are forecast to grow strongly in central London and, with demand from international investors outstripping supply, prime addresses and buildings will command a premium,' Griffiths says.
'London's tall buildings are predominantly commercial, but The Tower is situated on the River Thames and presents an opportunity to own a residential property overlooking the historic landmark views of Westminster, which is very rare.' Griffiths says Colliers International has support from the Royal Bank of Scotland, which can provide information on mortgages and gearing at a special exhibition at the Mandarin Oriental Hotel on Saturday and Sunday.