Superb setting enhances attraction
The tranquility of a canal-side frontage, excellent transport links, close proximity to Canary Wharf and other amenities specially upgraded for the London Olympics make Waterside E1 one of the most sought after developments on the market.
Overlooking scenic Regent's Canal, the 24-unit six-storey block offers a choice of layouts and the promise of appreciating values and attractive rental yields.
'This is an outstanding new development with a superb setting,' says Richard Teoh, sales director of Hamptons International (HK), who is overseeing the launch of the project in Hong Kong. 'It offers a rare opportunity for luxurious living, just five minutes walk from connections to London's extensive transport network and only a few hundred metres from wide open parkland and the conservation area of Stepney Green.'
The apartments, due for completion in June next year, offer a selection of one-, two- and three-bedroom units. All come with a balcony or terrace, and also to consider are two-bedroom triplex and three-bedroom duplex units.
The architects and developer have maximised natural light by using full-height windows and configurations that make the most of the open-plan living space. To enhance comfort and style, the interiors feature top-quality fittings that combine classic and contemporary styles - each kitchen includes ceramic floor tiling, a single stainless steel sink, Manhattan units, a Zanussi electric fan over the oven along with a four-ring electric hob plus hood. The integrated range of appliances also features a large fridge-freezer and a washer/dryer.
Main living and dining areas have wood-strip flooring and are equipped with television and broadband connections.
What allows each bathroom and en suite to stand out is the choice of white Roca Laura contemporary ware. This is an ideal match for the ceramic wall and floor tiling and is set off by the polished chrome down-lighting.
'All 24 apartments have superior build quality and finish,' Teoh says. 'This will extend to having a fresh air ventilation system, thermostatically controlled heating, and double glazing. It is also worth noting that the bedrooms will have wardrobes with sliding glass doors and that a video entry-phone system and private lift access to all floors will provide the necessary sense of security.'
Outside features include a landscaped courtyard, green views that offer a general sense of tranquility, yet within a two-mile radius are the financial centres, excitement and activities that make London such a magnet for international investors.
For a jog, bike ride or quiet stroll, the Regent's Canal towpath provides scenic options in either direction. Heading north are parks, shops and cafes, while south towards the River Thames is Limehouse Basin, a fashionable wharfside district with historic pubs, enticing restaurants and moorings with traditional canal boats alongside the latest in ocean-going yachts.
'It is one thing to be situated on a prestigious waterway, but the development is also just three stops and six minutes [by light rail] from Canary Wharf,' Teoh says. 'There, you have a dynamic hub of office buildings and a world-class range of shopping malls, designer boutiques, health clubs, bars and restaurants.'
Being so close guarantees that Waterside E1 will be an attractive proposition whether for owner/occupiers or to rent out. Market rates suggest that rents achievable for the one-bedroom apartments are from GBP320 (HK$3,960) to GBP350 per week. For the two-bedrooms, it could be up to GBP475 per week, and a three-bedroom unit could bring in as much as GBP575 a week.
There is also the prospect of a 6 per cent rental guarantee for the first year only, based on the expectation that sale prices will start from GBP279,500.
For this development, leasehold tenure lasts for 250 years from 2012, the local authority is the London Borough of Tower Hamlets, and limited car parking would be available at an additional cost of GBP30,000 per space.