Docklands News

Work continues on Canary Wharf’s first residential tower

23rd June 2017

 

Construction News looks at the Canary Wharf Group’s Newfoundland project, the first residential tower to be built on the Canary Wharf estate. On completion in the fourth quarter of 2018, the 60-storey building will reach 220m, not far below neighbouring One Canary Wharf, which stands at 236m, hosting 636 apartments and two basement levels, directly above the Jubilee Line tunnels. It will eventually be joined by a second residential area immediately to the east of the estate, the New District. Formerly known as Wood Wharf, the site will host over 3,200 new homes, alongside almost 2m sq ft of commercial space and 335,000 sq ft of shops and restaurants. The Canary Wharf Group anticipates that the entire development will be complete by 2023.

Construction News (21/06/2017

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Newham accelerates Canning Town-Custom House regeneration

23rd June 2017

Newham Council has ramped up its investment in the regeneration of Canning Town and Custom House, committing £111m to speed up plans for around 5,000 new homes and improvements to shops, streets, squares and parks. Three new neighbourhoods have been created in Canning Town since 2010, providing 1,200 new homes, with another 1,200 on the way. Mayor of Newham Sir Robin Wales said: “We know that residents have been frustrated that it has taken so long for the regeneration to get started, especially in Custom House. However we’ve never lost sight of our ambition for whole area”.

The Wharf (20/06/2017)

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House price momentum eases in June

23rd June 2017

House price momentum has stalled as the average price tag on a property coming to market has dipped by more than £1,000 month-on-month. Across England and Wales, the average asking price was £316,109 in June, a 0.4% or £1,172 fall compared with May, and the first fall seen in the month of June since 2009 - at the height of the credit crunch. The annual rate of asking prices also slowed, to 1.8%. Asking prices in London and the South East were down month-on-month by 2.4% and 0.9% respectively. By contrast, asking prices were up by 1.7% in Yorkshire and the Humber, by 1.3% in the North West and the East Midlands, and by 0.8% in Wales.

The Times (18/06/2017)

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Home sales drop by up to 30%

23rd June 2017

New research by Lloyds Bank has found that the number of home sales in England and Wales fell by 7% in 2016 to 848,857, dropping most heavily in London and the south-east, by 18% and 10% respectively. Brent in London and Berkhamsted in Hertfordshire saw falls of 30%, topping the list. Places from Westminster to Hull have seen 55%-plus falls in sales over the past decade, while every local authority in England and Wales had lower sales in 2016 than in 2006.

City AM   (20/06/2017)

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Half of buyers wish they’d tried to bargain

23rd June 2017

Some 51% of those who had bought their first property in the past five years regretted not trying to negotiate with the seller for a better deal, Barclays Mortgages has found. More than one in five even paid thousands extra to get their foot on the property ladder - adding £7,758 to the asking price on average. Barclays suggested a fast-moving market in some areas may be putting buyers off trying to negotiate, with 85% of those surveyed describing the current property market as "extremely competitive".

Daily Mirror (20/06/2017)

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A Goodluck wish

16th June 2017

Ballymore has unveiled its Goodluck Hope project on the Leamouth Peninsula, just south of its London City Island development. The riverside scheme will bring a further 804 homes to the area, the first of which are due to be completed towards the end of 2019. Designed by Allies and Morrison as a “modern interpretation of warehouse living”, the suites, one-, two- and three-bedroom apartments feature floor-to-ceiling windows, open-plan rooms, kitchen and dining areas with bespoke stone islands and dining tables. Buyers will have access to The 1595 Club, with amenities such as a 24-hour concierge service, gym, swimming pool, and steam room, along with membership of the City Island Arts Club. Prices start at £335,000.

The Wharf (13/06/2017)

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