Property in Poplar has all of the hallmarks of an attractive investment opportunity, including good value, a strong tenant market and excellent long-term potential. Here, Bellway Homes has launched its latest development, Lansbury Square, offering a range of contemporary apartments, ideal for investors that want to take advantage of the rise in Poplar’s fortunes.
Situated just a stone’s throw from London’s financial powerhouse Canary Wharf, Poplar offers much better value property, with average house prices around 10% lower than in Canary Wharf, according to data from Zoopla. But with Canary Wharf’s workforce now larger than that of the City of London, there is an ever-increasing number of people that want to live close by.
Lansbury Square offers a range of stylish and well-appointed one, two and three bedroom apartments, just over a mile from the centre of Canary Wharf. With huge regeneration taking place in the local area, including a new £250m masterplan to transform East India Dock, and a £300m overhaul of the historic Chrisp Street Market, it is clear there is plenty of potential for the area to continue to improve and for property values to rise substantially over the long term.
As demand for quality rental homes in the area continues to grow, rental yields in East London are holding up favourably, compared to many zone one locations. A one-bedroom apartment at Lansbury Square would achieve a typical rental yield of 4.6%.
Emma Denton, Head of Sales at Bellway Homes Thames Gateway, comments: “Undoubtedly being so close to Canary Wharf has helped transform Poplar and it is now a vibrant and sought after location, especially among young professionals working at Canary Wharf. Ten years ago, Poplar would not have been the first choice of place to live for those who wanted an easy commute, but that has reversed and now property here moves quickly. There is huge demand for good rental accommodation so investors at Lansbury Square will be assured of a reliable tenant market.”
Located in Rifle Street off Chrisp Street, Lansbury Square is conveniently located for a wide range of amenities and excellent transport links. All apartments offer airy open plan living spaces with a high quality specification including contemporary en-suite shower rooms and integrated kitchen appliances. Each home has private outdoor space in the form of balcony or terrace and residents also have use of the landscaped communal gardens. Parking spaces are available to purchase.
As an up-and-coming area, Poplar offers a thriving mix of retail and leisure facilities, including a local supermarket and Chrisp Street Market, which was the first purpose built pedestrian shopping area in the UK. For a more extensive retail experience, Canary Wharf offers a wide range of brands, while Westfield Stratford City is only 10 minutes away by DLR.
The Poplar Baths Leisure Centre was restored and reopened last summer after almost 30 years, to offer brand new pool, gym, fitness studio, sports hall and rooftop football pitch. Mile End Park Stadium offers tennis courts, hockey, football and netball pitches and an athletics track, while the Queen Elizabeth Olympic Park is only two miles away.
For commuters, Langdon Park DLR station is just a few minutes’ walk away and a journey to Canary Wharf will only take five minutes or for those who prefer to travel on foot, the walk takes a little over 20 minutes. The closest London Underground station is Bromley-By-Bow (District, and Hammersmith & City lines), a 15-minute walk away, while major roads include the A12, the East India Dock Road and the A11 are all close by. Transport links will be further improved when Canary Wharf becomes a station on the Crossrail Elizabeth Line.