A recent report from The House Shop has found that taking into consideration affordability, the London Borough of Tower Hamlets is one of the top five hotspots for millennials in London. The research suggests that home hunters are attracted to the regeneration of the area, including new transport networks and community amenities. Savvy millennials keen to benefit from the investment and untapped potential of the borough, before prices climb, will be pleased to discover L&Q and Hill Partnerships’ New Union Wharf development, launching March 2018, and located in the heart of the Isle of Dogs, Tower Hamlets.
Boasting a prime riverside location, the £64 million regeneration will see homes on the tired 1970’s New Union Wharf estate, replaced with 399 contemporary, energy efficient homes available for sale, shared ownership and affordable rent. The eight-year regeneration scheme is set over five phases, with an estimated completion of 2022 and the launch in spring next year, marks the third phase of the redevelopment.
Adding to the already vibrant community, the latest phase will comprise a selection of homes to cater for a range of purchasers; from one bedroom apartments to four bedroom houses. Ideal for professionals working in nearby Canary Wharf, many of the homes boast scenic views of the River Thames. Each home will offer a high specification throughout, perfect for modern lifestyles, featuring spacious outdoor areas in the form of a winter garden or balcony.
Tony Harker, Director of Sales and Customer Service for the L&Q Group East Region, comments: “With the high cost of property in London, many millennials are looking to more affordable boroughs such as Tower Hamlets in order to make their home ownership dreams in London a reality. The Isle of Dogs has become a residential hotspot and we are delighted to be meeting this demand for new homes with the launch of the next major phase at New Union Wharf. We have seen a lot of interest in the homes already, so recommend potential purchasers register their interest as soon as possible in order to ensure you are one of the first to buy at this exciting development.”
The regeneration of the New Union Wharf is transforming the estate, improving the quality of housing and creating a safe neighbourhood, as well encouraging high levels of community engagement. Public art is used throughout the development to inspire the community, including a 200ft long wildlife mural placed on the hoarding of the site. The L&Q Group and Hill Partnerships teamed up with Cubitt Town Junior School to commission a local artist, Mürüde Mehmet to create the colourful mural.
Ideal for commuters, New Union Wharf is situated on the Isle of Dogs, providing excellent transport links around London and with Canary Wharf just over a mile away. Nearby DLR Crossharbour station and South Quay are a short walk from the development, connecting to Bank station in only 16 minutes and Liverpool Street in under 25 minutes. Crossrail, expected to launch in 2018, will further enhance links in the Isle of Dogs to the rest of London.
For more information on The New Union Wharf regeneration scheme and to find out how you can register your interest, visit www.newunionwharf.co.uk.