One Park Drive: Signature building of new Canary Wharf district opens to investors

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Established 30 years ago as London's modern financial centre, Canary Wharf is today fast becoming one of the city's top destinations for shopping, dining and culture.

Over the next few years, Canary Wharf’s blossoming new district will also welcome an influx of residents. Around 3,300 homes are being constructed, along with landscaped riverside areas and community facilities.

Urban living at its best: Canary Wharf

The new residential district at Canary Wharf combines the buzz of the capital with the serenity of riverside living.

Bustling high streets, boutique arcades, public plazas and waterside quays will offer lots of variety for residents and visitors, while nine acres of parks and gardens make it easy to connect with nature in the heart of the city. Culture aficionados will also be able to choose from more than 200 art and entertainment events that take place in the area throughout the year.

Around two-thirds of the district will consist of residential properties, and a quarter of these will be affordable homes, making a Central London postcode possible for more people. Canary Wharf Group’s first luxury apartments at 10 Park Drive went on sale in the summer of 2015, while construction has already begun on its next big residential project.

One Park Drive is scheduled to open in 2020, after the arrival of the Crossrail station that will shorten journey times from Canary Wharf to the city as well as transport hubs. The new station puts the district just moments from the London City Airport, six minutes to Liverpool Street and 39 minutes to Heathrow.

Be in the heart of luxury and style: One Park Drive

Designed by leading architects Herzog & de Meuron – whose impressive portfolio includes the National Stadium in Beijing and the recent extension of the Tate Modern – One Park Drive will be the signature building of the new Canary Wharf district. A distinctive cylindrical design sets it apart from neighbours.

Brian De'ath, Director of Residential Sales at Canary Wharf Group, said: "It sits at the head of the dock, is the tallest (building in the area), has the best facilities including a surrounding park, and also has the two docks around it. It's got a lot going for it.”

He added: “One Park Drive will define the standards by which all future residential projects will come to be measured. In terms of how it works, how it looks and the quality of every detail, it is something very special indeed."

One Park Drive includes 483 luxury apartments, which range from one-bedroom studios to spacious four-bedroom penthouse suites. Residents have access to exclusive facilities such as a gym and 20-metre swimming pool overlooking the docks, a private cinema and a concierge.

The weakened pound makes this an ideal time for international buyers to invest in property in this up-and-coming neighbourhood, especially as prices are expected to rise again.

Mandy Wong, Head of International Properties at JLL, said: “For Hong Kong buyers, the depreciation of the British pound translates into a discount of over 16 percent on UK residential property. This has spurred increased Hong Kong investment in the UK, particularly in Central London.

“Since the final quarter of 2016, we have seen an uptick in some prices. We believe that the demand for housing will increase slightly over the course of 2017 as more people become accustomed to the new market landscape.”

Apartments at One Park Drive go on sale this May, with prices starting from £575,000 (HK$5.56 million). Hong Kong property investors can find out more about One Park Drive by attending the exhibition between 12 and 14 May 2017 at Tian & Di Room, 7/F, The Landmark Mandarin Oriental Hotel, 15 Queen’s Road Central, Central, Hong Kong.

To find out more about One Park Drive and other residential properties in Canary Wharf, click here or contact JLL International Properties. Call +852 3759 0909 or email [email protected].