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London Dock Wonderful Wapping 2–3

London Dock Wonderful Wapping 2–3

London Dock Wonderful 2–3

London Dock

London Dock Wapping E1W

St George is changing the future of Wapping forever, delivering a remarkable new destination that Londoners are falling in love with. Based on the creativity of renowned architect Patel Taylor, this historic dockside development builds on the area’s history to create a modern new district. With 7.5 acres of open space including bars, restaurants and boutique shopping, the focal point will be Gauging Square with a spectacular water feature inspired by Le Miroir d’eau in Bordeaux. Close to the City, and the business hubs of More London and Tech City this is the most desirable location in . London Dock Wonderful Wapping

Amenities

An increasingly alluring trait of new build apartments is the amenities they come with. A CBRE survey recently found the convenience of having on site amenities, such as a pool and gym was highly desired. The most popular amenities are a concierge and a gym, with both being used by well over 80% of residents. And 69% of residents who didn’t have a pool wished they did! London Dock has taken all of this on board and offers an astounding 14,000sq ft of amenities, including:

–– The Club, a private residents’ club: –– Resident’s lounge –– Private screening room

–– Exceptional health and fitness suite: –– Gymnasium –– Swimming pool –– Sauna –– Steam room –– Jacuzzi –– Squash court –– Virtual golf –– Treatment room

–– A dedicated concierge service

–– Managed underground parking

Getting around

Located just a short distance from , London Dock is also within walking distance of a variety of transport hubs giving residents easy access across the city.

Tower Hill Underground Station (District and Circle lines) – 0.5 miles

Wapping Station (Overground) – 0.6 miles

Shadwell Station (Overground and DLR) – 0.6 miles

Whitechapel Station (opening in 2018) – 0.9 miles

–– Journey times to Canary Wharf station cut by 10 minutes to 3 minutes –– Journey times to Bond Street station cut by 13 minutes to 10 minutes –– Journey times to Heathrow 1-3 cut by 15 minutes to 38 minutes London Dock 6–7 Wonderful Wapping

London Dock overview

Wapping’s rich maritime The local area Connectivity Demographics and demand As a result, the City and its border are for homes dominated by the socio-economic group history and riverside London Dock is situated in the heart of the With the City and on the Wapping is extremely well connected. It known as ‘city prosperity’, one of the location makes it one of capital, moments from , The doorstep, and the glorious is located within walking distance to the Wapping is located in the borough of highest earning cohorts. They typically , St Katharine Docks and across the river, London Dock is in a financial centre also with Tower , right on the border of the work in high-status positions in key London’s most desirable the City. Positioned on the north bank of commercial and tourism hotspot. quick access to Canary Wharf via City of London. The population of Tower financial and professional organisations places to live. With the City the , the immediate area Docklands Light Railway. A short walk from Hamlets currently stands at 295,200. and command substantial salaries. combines modern city living with the The City of London is just a stone’s throw , Wapping and Aldgate East This follows growth of 38% since 2005, of London within walking historical riverside and cobbled streets from London Dock. This bustling stations means the rest of the city is also the highest rate of population growth in The tech industry is also bringing a new wave distance, demand for of Wapping and St Katharine Docks. cosmopolitan quarter features some of easily accessible. In addition, the area London. This trend is expected to continue of these residents to the area. As a result there the world’s most iconic buildings and benefitted from the opening of the new with a further 65,000 increase over the ten is a high proportion of high earners (£60,000 homes is extremely high, Wapping is a truly authentic destination, leading international organisations, Overground station line in 2010, providing a years to 2025. Overall, London has a severe pa+) in the area. The population is also which has resulted in a 59% filled with independent cafés and restaurants, reflecting its status as a global centre. north-south connection for Wapping. undersupply of housing but this is even more relatively young with more than 40% of whilst St Katharine Docks, Central London’s acute in Tower Hamlets. The pronounced high-earning residents in the City and increase in prices over the only marina, is home to a collection of A stroll over the iconic Tower Bridge leads Close proximity to station, population and household growth is exerting neighbouring districts between 18 and 35 last five years. high quality offices, restaurants, bars, to the South Bank with its fashionable mix where the new Crossrail line will open in pressure on the borough’s housing stock years old. More than 40% of high-earning shops and homes. of chic bars, fine restaurants and cultural 2018, will soon provide Wapping residents which has been fuelling price inflation. residents (£100k+) in the neighbouring venues. Here the Tate Modern, Shakespeare’s with a fast link to Heathrow Airport. Overall, districts are between 18 and 35 years old. St Katharine Docks, home to around 400 Globe, the National Theatre and the Royal the introduction of Crossrail will translate The demand for housing in Wapping itself This compares with approximately a quarter in residential homes and 10,000 local Festival Hall sit alongside the artisan delights into a reduction in journey times of more is high. It is adjacent to the employment the City and traditional prime central London. workers, is a destination in its own right. of Borough Market, whilst some of London’s than 50% from Whitechapel to some of the hubs of the City, Canary Wharf and More Boasting 1,000,000 sq ft of office space best bars enjoy the stunning backdrop of main stations on the network. A journey to London as well as close to the newly formed House prices and growth along with shops, restaurants and other the River Thames. Bond Street, in the West End, for example, Tech City, where the employment is growing recreational facilities. will be reduced from 24 minutes to just 10 fast. However, growing employment sectors Wapping’s rich history and prime riverside minutes. It will take a mere 3 minutes to get is not the whole story. The City and location combined with its great connectivity, Directly adjacent to London Dock is the to Canary Wharf From Whitechapel. surrounding areas have transformed in has translated into a strongly performing thriving business hub Square, recent years. Previously run-down housing market. Over the last five years, the a well-established development with over neighbourhoods, including Wapping have average price has increased by 59%, 520,000 sq ft of office and retail space, and a been gentrified and are now extremely equating to 10% per annum. With an average local workforce of approximately 5,000. Expected house price growth fashionable. As a result, homes in the area sale price of £815,000, homes in the area over the next five years are highly sought after. Neighbourhoods command a 57% premium over the wider close to the City draw residents from across borough average. The demand for new London, including the employment hubs of homes is high, with 58% of all residential Canary Wharf and the West End, as well as units under construction already sold 19% the City, where salaries average between off-plan. Only 2% of recently completed £50,000 and £80,000 per year. stock remains unsold. London Dock Wonderful Wapping

At the heart of it all

1 London Dock, E1 8 Bank of 15 Global technology company 2 Norton Rose Fulbright 9 BT 16 Global technology company 3 Ernest & Young 10 Unilever 17 J.P. Morgan 4 Hitachi Consulting 11 London Stock Exchange 18 Clifford Chance 5 PWC 12 Expedia 19 Citi 6 Aon Hewitt 13 Global technology company 20 HSBC 7 Lloyd’s of London 14 Bloomberg 21 Barclays

13 12

The City fringe and Tech City

14

16 9 15 11 8 6 7 10 The City Canary Wharf 1

21 3 4 19 20 More London 5 2 17 18

More London The City The City fringe and Tech City Canary Wharf

–– 13.5 acres located on the River –– Employing over –– Office take up increased by –– In excess of 105,000 people Thames adjacent to City Hall 400,000 people 48% since 2009 work at Canary Wharf and Tower Bridge –– Employment forecast to grow –– Home to more than 10,000 –– 14 million sq ft of office and –– A mixed-use business district by 50,000 people by 2026 technology businesses retail space and a recognised art and performance destination –– Ranked at the worlds No 1 –– Employing more than –– Headquarters to numerous Global Financial Centre 70,000 people major banks and media –– Close to companies Station (Main trainlines –– Home to more than –– Generating £12.5bn of revenue and Underground) 18,000 businesses –– When complete Canary Wharf will be one of the largest –– Contributing an estimated Crossrail stations £45bn (GVA) to the UK’s national income –– Nearby City Airport serves approximately 10,000 customers daily and connects to over 50 destinations London Dock 10–11 Wonderful Wapping

City lifestyle City working

London Dock is perfectly The City, London’s most historic district, The City of London also sits on the doorstep The City, or Square Mile, is The City is one of London’s prime business Percentage of UK financial services GDP has been dramatically transformed in recent of . This previously deprived area hubs. It accommodates traditional generated in London situated to benefit from the years. Once only a place of work, residential is now one of London’s most fashionable the epicentre of London companies across the financial services, cultural and business hub development is now actively encouraged. neighbourhoods. Among its former business. It currently hosts accounting and insurance sectors but now of the City, as well as the This has brought with it cool new bars and warehouses, you’ll now find an irresistible over 400,000 workers with a also hosts numerous creative and tech restaurants, boutique fitness studios and mix of Michelin-starred restaurants, companies. London Dock is perfectly 50% plethora of amenities pop-ups. This new chapter for the City street-food outlets, designer boutiques, art further 50,000 expected over positioned on the border of the City and means that as well as being London’s galleries and trendy bars. Adjacent to benefits from being located just a short walk The rise of the sector began from its offered by its bordering business centre, it is now also a place Shoreditch is the rejuvenated district of the next decade. from the heart of this business district. Over epicentre at in Shoreditch, with a districts which include the where people come to relax and have fun. . Its eponymous market has been the past decade the core office market has cluster of emerging technology companies at completely redeveloped and also included expanded into the City’s border area into . This has now trendy neighbourhoods of The City of London also neighbours Tech two new public spaces, an arts and events districts like , Shoreditch and expanded with more than 3,200 tech Shoreditch and Spitalfields City, which has evolved into the epicentre programme and the restoration of several Old Street. New grade A office space has companies per square kilometre now of the UK’s booming tech industry. Launched historic streets. The market now incorporates sprung up in these markets, replacing the concentrated in the area, which is now in 2010 the area has grown from hosting a well-known restaurant chains as well as older stock and attracting numerous high known as Tech City. This spread has in-turn few fledging technology start-ups to now independent outlets, and the traditional stalls profile companies. As a result, these areas led to the emergence of new clusters of accommodating the largest concentration are accompanied by fashionable boutiques are now considered part of the core office digital and tech companies in areas including of technology companies in the UK. This and high-street names. markets in London. Clerkenwell, Angel and Kings Cross. This is concentration of young creatives and resulting in a further influx of workers and professionals have created a buzzing Largest forex market by turnover in the world residents to the City and its border social scene. neighbourhoods. The now established market in the City border will continue to % attract companies, bringing further influxes 41 of workers and residents to the area. This will be combined with the continued expansion Over the last few years the City and border of the City, where an additional 50,000 markets have also benefitted from an workers are forecast over the next decade. eastward migration of companies from the This will all translate into persistently strong West End. In 2016 an estimated 500,000 sq ft demand for homes in the City and of office space left the West End market and surrounding areas, such as Wapping. moved to the City. Perhaps one of the main contributors to growth in both the City and its surrounds has been the exponential rise of the technology sector. The area now hosts more than 10,000 technology businesses that employ 70,000 people and generate over £12bn of annual revenues. London Dock Wonderful Wapping

Placemaking premium

From the famous transformations of Covent Placemaking is also hugely important in House price uplift from regeneration: Garden, Southbank and Kings Cross, ensuring that the maximum benefit occurs regeneration has always been an important from regeneration and large scale residential part of the ever-evolving London landscape. developments. This multi-faceted approach Regeneration can take many forms; the to design brings all elements of a 4.7% pa simple rejuvenation of a rundown area, development together in a cohesive and a complete aesthetic overhaul of an area diverse environment. Placemaking ensures through to an effective remodel of the an area has the appropriate amount and type Price premium for a scheme with underlying fabric by addressing the deeper of residential, retail, education, leisure, work effective placemaking: social and economic environment. space, restaurants, open space, transport, exhibition and community space. Effective Whatever form it takes regeneration works placemaking clearly benefits an area and to greatly improve the quality of life for its this impacts property prices. 10% residents and transforms it into a more desirable place to live. And our research Placemaking schemes have been shown shows this can have a marked impact on to trigger an uplift in value. Research led property prices, with prices in regeneration by CBRE, in collaboration with the Royal zones increasing by 4.7% per annum over Institution of Chartered Surveyors (RICS), and above wider house prices growth. found that placemaking creates a price premium of at least 10%. Further, as the Connectivity is important for regeneration. development matures, its reputation grows Whilst already well connected, London Dock and a sense of identity is created resulting will benefit from ongoing improvement works in this premium increasing substantially over on the & City and Circle and time. This will translate into strong capital District lines, which will enhance public appreciation over and above the local area. transport services at Aldgate East and Tower Hill station, through faster more frequent and more reliable trains. Following the upgrade, there will be significant improvements with up to 32 trains per hour and an increase in passenger capacity by 33%. This upgrade, along with the introduction of Crossrail at Whitechapel has the potential to add an additional 3.7% to house prices in Wapping by 2021, over and above underlying price inflation. London Dock 14–15 Wonderful Wapping

London Dock lettings investment

Wapping is extremely well Key facts connected and the area attracts a broad base of Apartment type Rent per week Yield residents. It is particularly Manhattan £430 – £460 4.0% – 4.3% popular with high earning One bed suite £450 – £470 4.4% City workers. There are currently 17,400 renters in One bedroom £525 – £550 3.9% the surrounding area that Two bedroom £710 – £825 3.7% – 3.8% earn over £60,000 per Three bedroom £995 – £1,050 3.5% – 3.6% annum, illustrating the underlying depth of demand for homes here. Key services

Full property Post completion Lettings service management service handover service

11%, 17%, discounted for discounted for Normally £700, London Dock London Dock FREE OF CHARGE buyers buyers for London Dock buyers Tenant profile to 8% to 12% We have an extensive database of high-calibre clients, actively (All prices are subject to VAT at prevailing rate, currently 20%) looking for luxury apartments in central London.

Tenant Nationality (Region of origin) % Tenant Occupation % Of those employed %

Europe, Middle East and Africa 69 Employed 61 TMT (Tech/Media/Telecoms) 32 Asia Pacific 19 Student 39 Finance 29 Americas 12 Arts and Entertainment 7 Legal 6 Property 6 Healthcare 6 Retail/Fashion 5 Samuel Anderson Energy/Oil 5 Lettings Manager – East London and City +44 20 7519 5931 Government/Embassy 2 [email protected] Retired 2 London Dock 16–17 Wonderful Wapping

London lifestyle Reasons to buy in London

241 22m 3 of the top10 most visited Professional Theatre visits theatres per year museums in the world 52,000 Undersupply of Centrally located Ease of access to are in London quality new homes between Asia and four main airports homes are required per North America in close proximity 200 66 annum in London. Only Museums and Michelin star 24,800 were built in 2016 galleries restaurants World-heritage sites, 5,000 520 more than any other city More than Hair salons Hotels in western Europe Robust Low interest Population 4 economy rates increase 400,000 9,224 761 Cafes and Gyms employees work in the The restaurants Tower of London City of London. The world’s leading financial district

Favourable London is a leading technology London is the only Gardens timezone and research centre city in the world to have hosted the Summer Olympics three times London population set to increase to 10 million by 2031, that’s 1.4 million London as a Strong legal structure, World class more people in the next 15 years asset protection and ‘safe haven’ education One of the world’s ‘greenest’ mulit-cultural society

cities for its size Royal Observatory

8 40% Palace of Large royal parks Total open green space. Favourable Crossrail is forecasted to drive growth by 1.5 billion English More than NYC, Berlin, exchange 3.3% per annum over and above underlying speakers in the world and rates house price growth during its build

Contacts Jennet Siebrits Ed Hollest Head of Residential Research Sales Director +44 20 7182 2066 +44 20 7182 2557 [email protected] [email protected]

Frida Skytt James Thornett Senior Analyst Lettings Director +44 20 7182 2535 +44 20 7182 2515 [email protected] [email protected]

Sources CBRE, Experian, Molior, ONS, TFL, Land Registry

Disclaimer 2017 CBRE CBRE Limited confirms that information contained herein, including projections, has been obtained from sources believed to be reliable. While we do not doubt their accuracy, we have not verified them and make no guarantee, warranty or representation about them. It is your responsibility to confirm independently their accuracy and completeness. This information is presented exclusively for use by CBRE clients and professionals and all rights to the material are reserved and cannot be reproduced without prior written permission of CBRE. Images provided are computer generated and for illustrative purposes only. All travel times taken from TFL. © 2017 CBRE Ltd.

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