London City Island: London's “micro-Manhattan” opens to overseas buyers
London's new island neighborhood spans 12 acres of art, culture and luxury living, just four minutes from Canary Wharf
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From derelict docklands to one of Europe's leading financial centers, the regeneration of Canary Wharf was London's first great success story of the 21st century, and the story isn't over yet.
More than 150 major office tenants occupy 16 million square feet of office space across this purpose-built financial district, including big names like HSBC and Barclays Bank, with a further 10.5 million square feet in the future pipeline. The arrival of the Crossrail Elizabeth Line (now delayed to 2020–21) will make Canary Wharf an even more attractive destination for global business and overseas investment in the next few years.
With more than 120,000 people going to work at Canary Wharf every day in the fields of finance, design and technology, retail and more industries as the economy diversifies, demand is high for well-connected property close by. Developers are aiming to meet this demand with new residential projects under construction in surrounding areas, one of the most notable being London City Island – a new residential and cultural enclave just four minutes away from Canary Wharf.
Island of culture
Surrounded by water, London City Island occupies the northern part of the Leamouth Peninsula where the River Lea meets the Thames. Once the site of a margarine factory, and before that part of London's historic docklands, the peninsula has been transformed unrecognizably into an affluent and artistic neighborhood.
Dubbed London's “micro-Manhattan,” City Island has a small village atmosphere next to the skyscrapers of Canary Wharf, with local shops and independent restaurants serving the new community rather than bustling malls. Public squares and the Waterline Park circling the development set the scene for relaxed city living, while access to highly-rated schools such as the Faraday School and London's prestigious universities make it ideal for families.
As the new home of the London Film School and English National Ballet, with several galleries and a robust events program, this cultured neighborhood also appeals to students and creative professionals. To the south, the neighboring Goodluck Hope development will host works from esteemed modern artists along London's first contemporary art walk, while major arts and entertainment venues such as the O2 Arena, South Bank and Tate galleries are within easy reach by Tube or river taxi.
A distinctive red footbridge connects London City Island directly to Canning Town Station, opening up travel across the city and beyond. From here, the Underground and Docklands Light Railway (DLR) put the sights and experiences of Central London less than 20 minutes away, and it's just four minutes to Canary Wharf for business, shopping and Crossrail connections. For international flights, it's just six minutes to London City Airport on the DLR and 40 minutes to Heathrow from Canary Wharf once Crossrail services begin.
Riverside living
When complete, housing on London City Island will total 1,700 apartments across 10 residential buildings, at least seven percent of which will be affordable homes. Based on the colorful apartment blocks typical of New York, Chicago and other US cities, the architectural style blends contemporary design with industrial touches, paying tribute to the area's heritage.
Residents at City Island Townhouses will enjoy far-reaching views of Canary Wharf and nearby landmarks such as the O2, as well as spacious floorplans and access to exclusive lifestyle amenities at the City Island Arts Club, including swimming pools, fitness facilities, a personal deli and dedicated concierge.
With high demand for property near Canary Wharf, and research from Jones Lang LaSalle (JLL) predicting double-digit price growth for areas around Crossrail stations once the service is up and running, London City Island offers excellent opportunities for local and overseas property investors.
For more information about London City Island and other residential properties in London, click here or contact JLL International Properties at +852 3759 0909 or [email protected].