250 City Road Changes in the City continue 2–3
250 City Road London EC1
Designed by the world-renowned architects, Foster + Partners, 250 City Road will create a new landmark for London. Situated in a prime location between Angel and Old Street, 250 City Road is within walking distance of the City of London’s financial district, Tech City and the vibrant bars, restaurants and nightlife of Shoreditch. With the delights of Upper Street, Old Street and Silicon Roundabout less than a ten minute walk away, this is the perfect destination to work and relax. The scheme itself will offer a host of world class facilities including vibrant new cafes and restaurants, two acres of wi-fi enabled green spaces, public art and exceptional office and studio space for start-ups as well as a 4* nhow hotel. With stunning views in every direction, 250 City Road rises above its surroundings to bring this global city to your door. 250 City Road City changes continue
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. What’s more, 69% who didn’t have a pool wished they did! 250 City Road has taken all of this on board and will offer a range of amenities including: ––Luxurious 20-metre pool ––Spa with jacuzzi, sauna and steam room ––Gym and rooftop fitness terrace ––Residents’ lounge ––24 hour concierge service ––Just under two acres of beautifully landscaped public realm ––All apartments benefit from either winter gardens, balconies or terraces ––Public art ––Wi-fi enabled communal areas ––3 floors of Grade A office space and studio office space for tech start-ups ––190 bedroom 4* nhow hotel ––40,000 sq ft of retail space ––Restaurants and cafés 250 City Road 6–7 City changes continue
City Road overview
City Road was historically Centrally located in Zone 1, City Road is City Road benefits from excellent transport Travel times ideally placed for both work and leisure. At links. Within a few minutes of 250 City Road one of the major entry the northern end of City Road lies Angel are Old Street and Angel Underground points to the City of Islington, one of the most restaurant-dense Stations which put the whole of London areas in the capital. Also known for its within easy reach. Tube and rail Shopping and Entertainment London. It links the heart cinemas, theatres and music venues, of London’s financial and Islington has plenty to offer. At the southern City Road will also benefit greatly from the Angel Station 7 mins 14 mins 4 mins Covent Garden 17 mins 10 mins 20 mins end of City Road, you will find Shoreditch, opening of The Elizabeth Line (Crossrail) at Old Street Station 3 mins 16 mins 4 mins Oxford Street 20 mins 12 mins 22 mins commerce economy with famous for its street art, pop-up galleries nearby Farringdon station. When it the leafy borough of and fashion outlets. Characterised by its launches in 2019, The Elizabeth Line will King’s Cross St. Pancras 12 mins 2 mins 9 mins Westfield Stratford 24 mins 23 mins 29 mins café culture, buzzing night life and significantly cut travel times to many parts Liverpool Street 9 mins 10 mins 13 mins Harrods 29 mins 17 mins 33 mins Islington. Following ever-growing food scene, Shoreditch is a of London. For example, a journey to the London Bridge 15 mins 7 mins 20 mins Royal Albert Hall 33 mins 20 mins 35 mins significant regeneration of truly unique place in London. West End will take just four minutes, while Canary Wharf will be reached in eight Waterloo 18 mins 15 mins 19 mins Westfield Shepherd’s Bush 46 mins 28 mins 29 mins the local areas, including Right on the doorstep of City Road, minutes. Journeys to Heathrow will be cut Paddington 33 mins 21 mins 29 mins Regent’s Canal offers a break from city life. to just half an hour. As well as The Elizabeth Spitalfields and Study Scattered with cafés, this picturesque Line, the area’s connectivity will benefit Shoreditch, City Road is stretch of waterway is a true gem of central from the ongoing improvements to the Airports City University 4 mins 11 mins 3 mins now at the centre of London; perfect for a stroll next to the canal Northern Line. In addition, the Old Street boats or to soak up the architecture of old roundabout area is set to receive a major City 32 mins 48 mins Guildhall School of Music 7 mins 16 mins 5 mins London’s best restaurants industrial London. face lift. The current roundabout will be Heathrow 50 mins 55 mins School of Oriental and African Studies 15 mins 20 mins 12 mins and nightspots as well as transformed into a pedestrian and bike Drawing on the popularity of both Islington friendly zone, with the new station entrance Gatwick 56 mins 90 mins University College 17 mins 17 mins 13 mins one of the UK’s largest tech and Shoreditch, City Road is now emerging located in its centre. London School of Economics 11 mins 23 mins 15 mins as a destination in its own right. The area districts. King’s College 16 mins 21 mins 19 mins has undergone a huge transformation in At the centre of City Road is Berkeley’s city recent years, attracting a significant amount flagship development: 250 City Road. Imperial College 34 mins 34 mins 33 mins of new development. Among its former Designed by world renowned architects, Walking Public Transport Driving warehouses, you’ll now find an irresistible 250 City Road is set to further transform mix of Michelin-starred restaurants, City Road. Offering world class facilities, street-food outlets, designer boutiques, art including new cafes, restaurants and a galleries and trendy bars. Adjacent to 4 star hotel, 250 City Road is now in Shoreditch is the rejuvenated district of Phase 2. When the scheme completes, Spitalfields. Its eponymous market has two acres of wi-fi enabled parks will make been completely redeveloped and now this a destination to work and relax, taking includes two new public spaces, an arts advantage of some of the city’s best and events programme and the restoration transport facilities. of several historic streets.
Located a short distance from The City, the historical financial and commercial heart of London, City Road borders Tech City, the epicentre of the UK’s booming tech industry. Launched in 2010 the area has grown from hosting a few fledging technology start-ups to now accommodating the largest concentration of technology companies in the UK. 250 City Road 8–9 City changes continue
City lifestyle London lifestyle
Once just a place of work, The City, London’s most historic district, The City of London also sits on the doorstep The City has been has been dramatically transformed in recent of Shoreditch. This previously deprived area of the top most years. Once only a place of work, residential is now one of London’s most fashionable 241 22m 3 10 transformed into a place to development is now actively encouraged. neighbourhoods. Among its former Professional Theatre visits This has brought with it cool new bars and warehouses, you’ll now find an irresistible theatres per year visited museums in the live and play. The well restaurants, boutique fitness studios and mix of Michelin-starred restaurants, established social scene pop-ups. This new chapter for the City street-food outlets, designer boutiques, art world are in London includes over 400 retail means that as well as being London’s galleries and trendy bars. Adjacent to business centre, it is now also a place Shoreditch is the rejuvenated district of 200 71 outlets and 800 restaurants. where people come to relax and have fun. Spitalfields. Its eponymous market has been Museums and Michelin star completely redeveloped and now includes galleries restaurants The City of London also neighbours Tech two new public spaces, an arts and events City, which has evolved into the epicentre programme and the restoration of several World-heritage of the UK’s booming tech industry. Launched historic streets. Within the market are some in 2010 the area has grown from hosting a well-known restaurant chains as well as sites, more than any few fledging technology start-ups to now independent outlets, and the traditional stalls 5,000 520 Hair salons Hotels accommodating the largest concentration are accompanied by fashionable boutiques other city in of technology companies in the UK. This and high-street names. concentration of young creatives and western Europe professionals has created a buzzing social scene. 9,224 761 4 Cafes and Gyms restaurants
Tower of London 1 20% 868 414 One of the world’s ‘greenest’ ‘Outstanding’ Share of London Number of shops Number of restaurants cities for its size primary school office space and cafés Kew Gardens 8 40% Large royal parks Total open green space. More than NYC, Berlin, Paris and Amsterdam
London is the only city in the world to Royal Observatory Greenwich have hosted the Summer Olympics Palace of Westminster three times 250 City Road 10–11 City changes continue
City leisure
Shopping Education Culture Theatre Drinking and dining
‘When a man is tired of London, he is tired of London boasts over 50 universities including London is home to many of the world’s best Over 15 million people a year attend the London is one of the wold’s great life, for there is in London all that life can some of the best undergraduate and museums and galleries. The British Museum, theatre in London, and London’s West End multicultural cities, noted not just for the wide afford’. So said Samuel Johnson in 1777, research universities in the world. From 250 Tate Modern, National Gallery and Natural – along with New York’s Broadway – are range of cuisines but also the sheer number and it is no less true today. From the City Road, London’s universities are within History Museum are amongst the most considered to be the pinnacle of the world of of award winning restaurants and bars. boutiques and department stores of Oxford easy reach. King’s College and London visited institutions in the world. It is also commercial theatre. From the National London boasts 71 Michelin starred Street, Regent Street, Bond Street and School of Economics (LSE), both of which home to some lesser known, but equally Theatre and County Hall in South London restaurants, and of these, nine are located Knightsbridge to the shopping malls at are amongst the top universities in the world wonderful places to visit. Within a short walk and Palace and Cambridge Theatre in the within a mile of 250 City Road. Some of these Stratford and Westfield, it can be argued that are located within 20 minutes travel of 250 of 250 City Road, for instance, is the Victoria West to the Almeida Theatre and O2 are situated in the Clerkenwell area, home to if something cannot be found in a London City Road, while City University and Guildhall Miro Gallery, a contemporary art gallery run Academy in the north and west, London has the historic Smithfield Markets while others, shop, it doesn’t exist. 17 minutes drive from School of Music are less than 10 minutes by one of BritArt’s most influential dealers. To a diverse and exciting music and theatre such as City Social, are located in the City Road is Harrods, one of the world’s most cycle. London’s universities have a the south of 250 City Road is the Museum of scene. Close to 250 City Road are the O2 skyscrapers of the City. famous department stores, which is visited reputation for excellent graduate outcomes, London, telling the story of the city from Islington and the Sadler’s Wells Theatre. The by over 300,000 people a day. Less than 30 and LSE was rated as the best universities in prehistoric times to the present. To the East O2 is a live music venue hosting rock and The development of Shoreditch has made it minutes away is Westfield Shepherd’s Bush, the UK for graduate earnings. is the Whitechapel Gallery, which has hosted pop music, while Sadler’s Wells Theatre, the an exciting district for nightlife, and between the largest shopping centre in Europe. exhibitions by some of contemporary art’s world’s No.1 venue dedicated to international the historical pubs nightclubs and themed most famous artists including Lucian Freud, dance - presenting dance in all forms from cafes, there is a drinking venue for every David Hockney and Jackson Pollock. contemporary to flamenco, ballet to hip hop. occasion.
Almeida Theatre The Old Queens Head Central St Martins O2 Academy Islington Earl of Essex King’s Cross Geffrye Museum Station of the Home Angel Station The Charles Lamb Pub The Wenlock Arms The Lexington CITY ROAD250 City Road Columbia Road Flower Market The British Euston Station Sadler’s Wells The Regent’s Park Library Theatre City University Old Street Nightjar Records V&A Museum of London The Clove Club Shoreditch Golden Bee of Childhood Look mum Grind Callooh Callay Wellcome The no hands! Ozone Coffee Ninetyeight Bar / Gallery Extreme Collection Slaughtered Leroy Brat Charles Dickens Roasters Lamb London Museum The Gibson Lyle’s Cocktail Club SOAS University McQueen The Old Blue Last Queen Mary of London Farringdon Fix Coffee University of Station Queen of Hoxton London Barbican Brick Lane The British Flight Angler Centre Club Galvin La Market Museum Chapelle St John Guildhall Spitalfields Sir John Soane’s Club Market Museum Gascon Liverpool Street The Shaftsbury Museum of Station Theatre London Paddington Oxford Circus Station Lincoln’s Inn Fields City Social Seven Dials London School of Selfridges Palace Cambridge Economics Liberty Theatre Theatre and Political London Science Queen’s National Gallery Theatre 250 City Road 12–13 City changes continue
City working 250 City Road: At the heart of it all
The City, or Square Mile, is The City is one of London’s prime business Percentage of UK financial services GDP 1 250 City Road, EC1 11 London Stock Exchange 21 Barclays Bank 31 Karmarama the epicentre of London hubs. It accommodates traditional generated in London 2 Norton Rose Fulbright 12 Expedia 22 Adobe 32 Lastminute.com companies across the financial services, 3 Ernst & Young 13 Global tech company 23 Business Design Centre 33 Nasdaq accounting and insurance sectors but now business. It currently hosts 4 Hitachi Consulting 14 Bloomberg 24 Capco 34 Techhub London also hosts numerous creative and tech over 400,000 workers with a 5 25 35 companies. City Road is perfectly positioned 50% PWC 15 Global tech company Cisco The Unseen further 50,000 expected over on the border of the City and benefits from 6 Aon Hewitt 16 Global tech company 26 Farfetch 36 Ticketmaster being located just a short walk from the heart The rise of the sector began from its 7 Lloyd’s of London 17 J.P. Morgan 27 Go Cardless Wayfair 37 Wipro Digital the next decade. of this business district. Over the past epicentre at Old Street in Shoreditch, with a 8 Bank of England 18 Clifford Chance 28 Grey decade the core office market has expanded cluster of emerging technology companies at into the City’s border area into districts like Old Street roundabout. This has now 9 BT 19 Citibank 29 Inmarsat Clerkenwell, Shoreditch and Old Street. New expanded with more than 3,200 tech 10 Unilever 20 HSBC 30 Intermusica grade A office space has sprung up in these companies per square kilometre now markets, replacing the older stock and concentrated in the area, which is now attracting numerous high profile companies. known as Tech City and often referred to as 23 As a result, these areas are now considered Silicon roundabout. This spread has led to part of the core office markets in London. the emergence of new clusters of digital and 13 36 tech companies in areas including 12 30 35 27 Clerkenwell, Angel and King’s Cross. This is Silicon Largest forex market share by turnover resulting in a further influx of workers and 1 37 Roundabout in the world residents to the City and its border 26 neighbourhoods. The now established 29 24 market in the City border will continue to attract companies, bringing further influxes 13 41% of workers and residents to the area. This will 28 14 31 be combined with the continued expansion 32 22 25 Over the last few years the City and border of the City, where an additional 50,000 16 33 markets have also benefitted from an workers are forecast over the next decade. 9 15 11 eastward migration of companies from the This will all translate into persistently strong 8 6 West End. In 2016 an estimated 500,000 sq ft demand for homes in the City and 7 10 The City of office space left the West End market and surrounding areas. Canary Wharf 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 21 3 4 19 20 the technology sector. The area now hosts More London more than 10,000 technology businesses 5 2 17 18 that employ 70,000 people and generate over £12bn of annual revenues.
The City Silicon Roundabout Canary Wharf More London
–– Employs over 400,000 people –– Office take up increased by –– In excess of 105,000 people –– 13.5 acres located on the River 48% since 2009 work at Canary Wharf Thames adjacent to City Hall –– Employment forecast to grow and Tower Bridge by 50,000 people by 2026 –– Home to more than 10,000 –– 14 million sq ft of office and technology businesses retail space –– A mixed-use business district –– Ranked the world’s No 1 and a recognised art and global financial centre –– Employing more than –– Headquarters to numerous performance destination 70,000 people major banks and media –– Home to more than companies –– Close to London Bridge 18,000 businesses –– Generating £12.5bn of revenue Station (Main trainlines –– When complete Canary Wharf and Underground) –– Contributing an estimated will be one of the largest £45bn (GVA) to the UK’s Crossrail stations national income –– Nearby City Airport serves approximately 10,000 customers daily and connects to over 50 destinations 250 City Road 14–15 City changes continue
City living Regeneration premium
The regeneration of the City Following its regeneration, the local area has The regeneration and subsequent increase From the famous Whatever form it takes regeneration works Placemaking is also important in ensuring become an increasingly attractive place to in popularity of the City Road area has had to greatly improve the quality of life for its that the maximum benefit occurs from Fringe has bought with it live. Very much in demand by the traditional upward pressure on the price of property. transformations of residents and transforms a place into a more regeneration and large scale residential new amenities. These city workforce - employees in the city Since 2009 house prices in the area have Covent Garden, Southbank desirable place to live. And our research developments. This multi-faceted approach finance, insurance and commerce increased by 87%. This is higher than growth shows this can have a marked impact on to design brings all elements of a include some of the city’s sectors – who want to live near to their place in both the borough (Islington) 71% and and King’s Cross, property prices, with prices in regeneration development together in a cohesive and most sought after restaurants of work. The growth in London’s technology wider London (also 71%). In spite of this regeneration has always zones increasing by 4.7% per annum over diverse environment. Placemaking ensures sector has also provided a new cohort of growth, property in the area remains and above wider house price growth. an area has the appropriate amount and type and bars, making properties residents. The influx of an increasingly young relatively affordable when compared with been an important part of residential, retail, education, leisure, work in this area highly sought workforce to the city has bought with it a other prime locations. of the ever-evolving space, restaurants, open space, transport, unique culture derived from a multicultural House price uplift from regeneration exhibition and community space. Effective over for both home owners and creative demographic. The population surrounding 250 City road is London landscape. placemaking clearly benefits an area and and renters. Despite the becoming increasingly affluent, with 46% of The regeneration of the this impacts property prices. The growth in London’s technology sector, households earning over £50,000 and 29% resulting surge in popularity as well as targeted placemaking and of the private rental households earn over City fringe is no different 4.7% pa Price premium for a scheme with for property in the area, regeneration schemes has made these areas £100,000. This compares favourably with the and has completely effective placemaking increasingly attractive workers in the tech Hackney and Islington areas, where 8% and Connectivity is important for regeneration. and corresponding price and start-up sectors, as well as to the 16% of private rental households earn over rejuvenated the area. Whilst already well connected, 250 City rises, homes still remain traditional city workforce – employees in the this amount. Road will benefit from ongoing improvement city finance, insurance and commerce works on the Hammersmith & City and 10% affordable in comparison sectors. The influx of an increasingly young Both Hackney, Islington and the City Road Circle and District lines, which will enhance to other prime areas of workforce to the city has bought with it a area are attractive markets for renters. public transport services, through faster, Placemaking schemes have been shown unique culture derived from a multicultural Around 250 City Road, 44% of households more frequent and more reliable trains. to trigger an uplift in value. Research led inner London. and creative demographic. are private renters, compared with 39% and Following the upgrade, there will be by CBRE, in collaboration with the Royal 30% in Hackney and Islington respectively. significant improvements with up to 32 trains Institution of Chartered Surveyors (RICS), These areas, however retain much of their per hour and an increase in passenger found that placemaking creates a price original character. Shoreditch and Hackney capacity of 33%. premium of at least 10%. Further, as the have long been the haunt of artists, students development matures, its reputation grows and innovators, and this can be seen in the and a sense of identity is created resulting colourful and distinct independent shops, in this premium increasing substantially over restaurants and cafes. time. This will translate into strong capital appreciation over and above the local area.
2018 Average House Price and growth since 2009: City Road and surrounding areas
£1,200,000 120%
£1,000,000 100%
£800,000 80%
£600,000 60%
£400,000 40%
£200,000 20%
0 0 Tower Hamlets Islington City Road Southwark Hackney City of London
(LHS) 2018 average house price 2018 average apartment price only (RHS) Growth since 2009 250 City Road City changes continue
Why buy London? 52,000 Undersupply of Centrally located Ease of access to quality new homes between Asia and four main airports homes are required per North America in close proximity annum in London. Only 24,800 were built in 2016
More than Robust Low interest Population economy rates increase 400,000 employees work in the The City of London. The world’s leading financial district
Favourable London is a leading technology timezone and research centre
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 multi-cultural society
Favourable The Elizabeth Line (Crossrail) is forecast 1.5 billion English exchange to drive growth by 3.3% per annum over speakers in the world rates and above underlying house price growth during its build 250 City Road 18–19 City changes continue
Why buy Berkeley?
From the quality of the History Premium uplift apartments to the The Berkeley Group was established in 1976, Reflecting the quality, Berkeley properties exceptional places that with the founding of Berkeley Homes in often achieve a premium over the local Weybridge, Surrey. It initially focused on the market value. However, more importantly surround them, Berkeley construction of single homes and executive for an investor our research shows that the offers more than just homes. developments. In its first year four homes resale price of Berkeley schemes tends were constructed, all of which were sold to grow faster than properties in the Leading the way in off-plan, giving the company a turnover of immediate vicinity. constructing new places, £121,000 and a profit of £21,000. Focusing on London over the last decade, neighbourhoods and From the outset Berkeley maintained a Berkeley properties have grown by an communities, Berkeley detailed focus on every development and annual average of 13.8%. This compares established disciplined procedures to enable with the local area average of 8.8%. Thus, are committed to quality both the construction and marketing of sites each year Berkeley properties are placemaking and to start as early as possible in the outperforming the wider market by around development cycle, thus maximising return 5%. Schemes that have performed sustainability. Ever on capital and minimising marketing risk. particularly well include Marine Wharf West, evolving, you can be sure Royal Arsenal and Kidbrooke Village. Berkeley rapidly became renowned for the that your Berkeley home quality of its product and for its ability to Did you know…? has been built to the highest match product to demand. Consequently the business grew rapidly. In December –– Berkeley have built 19,000 homes in the standards and designed 1985 Berkeley gained a full listing on the last five years. It is currently developing for life. London Stock Exchange. In less than ten around 50 schemes with 20 upcoming. years of operation Berkeley had grown from an entrepreneurial business capitalised at –– With a net promoter score of 74, Berkeley £50,000 to a fully listed group valued at has the best customer service rating in over £67m. the sector.
Awards –– In 2017, was rated Britain’s second most admired company in the Management Berkeley are a multi award winning Today Magazine. developer. Recent accolades include: –– Since 2011, the Berkeley Foundation –– The Queen’s Award for Enterprise has committed £12.9m to more than and Sustainable Development in 100 charities. 2014 and 2008 –– Berkeley Group is creating 519 acres of –– The UK Customer Satisfaction public realm and planting 9500 trees. Award, 2016 –– Berkeley Group’s share price has –– Multiple awards for Housebuilder of the increased by 76% over 5 years. Year, including ‘WhatHouse?’ and ‘The Building Magazine’ in 2017, The Sunday Times ‘British Home Awards’ in 2016, ‘Large Developer of the Year (RESI)’, and ‘The Building Awards’ in 2015.
–– Berkeley Group named ‘Best Property Company - Residential’, EG Awards, 2014
–– NextGeneration Benchmark for sustainability
–– Property firm of the year 2014 at City AM awards, 2014 Contacts Jennet Siebrits Ed Hollest Head of Residential Research Sales Director +44 20 7182 2066 +44 20 7182 2557 [email protected] [email protected]
David Chapman Amy Meyrick Analyst Associate Director +4420 7182 8047 +44 20 7182 2478 [email protected] [email protected]
Sources CBRE, Experian, Molior, ONS, TFL, Land Registry
Disclaimer 2019 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. © 2019 CBRE Ltd.