With steadily rising capital values, a rapidly expanding local population, Crossrail on the horizon and the City of London on the doorstep, Docklands is an excellent location for buy-to-let investors hoping to target the young professional and city worker market.
House prices in London Docklands have increased steadily for nine consecutive years, with gross rental yields of approximately 4% currently and an average weekly rental income of £512. Bellway’s Dockside development in Turnberry Quay is ideal for investors seeking new opportunities, offering a contemporary collection of two and three-bedroom apartments aimed at young professional tenants.
Over the past 30 years, the once industrial zone of London Docklands has been transformed into the capital’s leading financial district, attracting billions of pounds of investment that is forecast to bring 110,000 jobs and 10,000 new homes to the area by 2031. The new Crossrail station at Canary Wharf, which will be fully operational by December 2019, will connect to the City of London, the West End and Heathrow, with trains running every five minutes at peak times. Journeys will take just three minutes to Custom House and six minutes to Liverpool Street.
Emma Denton, Head of Sales at Bellway Homes Thames Gateway, comments: “Proximity to London’s main financial districts is driving demand for high quality rental property in the Docklands area, leading it to outperform the prime central London market with consistent capital growth over almost a decade. Dockside presents an attractive opportunity to residential investors keen to take advantage of growing tenant demand from employees of some of the world’s biggest companies.
“London Docklands is one of the most vibrant and exciting neighbourhoods in London and a magnet for young professionals working in Canary Wharf, who also want London’s best bars, restaurants, parks and leisure facilities on their doorstep.”
Inspired by London’s traditional wharf architecture, Dockside is a striking contemporary 13-storey building featuring extensive glazing. Every home benefiting from its own private balcony or terrace, most offering views across the dock to Glengall Bridge and the Canary Wharf skyline. It also features shops and restaurants in the commercial space on the building’s ground floor.
The apartments are laid out to make the most of the light afforded by waterside living, with open plan kitchen, living and dining areas with full height glazing leading out onto the balcony or terrace. High specification kitchens are fitted with a range of Nolte units, Silestone worktops and integrated appliances, with oak flooring throughout the living areas, large ceramic tiling and plenty of built in storage. The larger duplexes are ideal for investors targeting groups of young professional sharers, with a large contemporary living space, three bedrooms, plenty of storage and a large terrace. All residents benefit from the services of an on-site concierge.
There is a huge choice of cafes and restaurants within a short walk and a large supermarket for every day essentials. One minute on foot from Dockside is a modern riverside Indian restaurant, while slightly further afield are Michelin-starred British, French and Chinese restaurants around Shoreditch and Liverpool Street, just a short tube ride away. For shoppers, there is an excellent selection of designer boutiques and high street stores at One Canada Square, Jubilee Place, Cabot Place and Crossrail Place.
For commuters, Canary Wharf is an easy walk or three stops on the DLR from Crossharbour station, just three minutes’ walk from Dockside. From Canary Wharf, the Jubilee Line offers services across London, while City Airport is only thirty minutes away by tube or car.