|
Baltimore Wharf was London’s fast-selling waterside development in 2011, and there is expected to be further sales interest in the team’s visit to HK and Singapore from the opening of the new, top-specification, private gym – which, the team says, could raise rents by 5%.
There is already a waiting list for tenants at the development, thanks to its location in the Canary Wharf business district and the building’s luxurious living spaces, and 2012 onwards will see the pool of potential tenants for property in the area growing: the chief executive of the Canary Wharf Group expects that the flurry of development in the area will turn Canary Wharf from ‘a mini city to a medium city’ with even more residential and commercial units being built and guaranteed high rental yields for property investors.
The London Borough of Tower Hamlets recently granted outline planning consent for the redevelopment of Wood Wharf (16.8 acre site), adjacent to Canary Wharf. With this redevelopment, it is expected to create 25,000 new jobs, and hence boost the demand further for rental properties in the nearby areas.
The Canary Wharf area will pass another milestone with the Canary Wharf Crossrail station, which will open in 2017. The plans approved are for a 6-storey structure with 100,000 sq ft of retail space, and a roof-top park. This will cut the journey times from Baltimore Wharf, allowing residents to reach Liverpool Street, Paddington, and Heathrow in 7, 17 and 44 minutes respectively.
Baltimore Wharf is Ballymore’s most recent prime development situated around 10 minutes’ walk from Canary Wharf. In total there are 473 studio, one, two and three-bedroom apartments, duplex and penthouses. A typical studio suite starts from 424 sqft while the two-bedroom apartments range from 770 sqft to vast 1050 sqft spaces. It was designed by Skidmore Owings and Merrill, who are the world’s foremost architectural practice and were the master planners of Canary Wharf. It is located on the doorstep of London’s financial district home to some of the world’s most powerful companies including Barclays, Credit Suisse, HSBC and Citigroup. The DLR station is adjacent to the development and London City airport, which connects to 28 European cities and New York is only ten minutes away. The high specification and the location within a district with a current workforce of over 100,000 people makes Baltimore Wharf the ultimate buy-to-let development.
Ballymore have recently launched a new selection of apartments in Baltimore Wharf: a collection of suites, one-bedroom, two-bedroom, two-bedroom duplexes and three-bedroom homes; all of which are have floor-to-ceiling windows. Most of the apartments also have private glass–walled balconies providing stunning but practical outside spaces for residents. Each apartment is carefully designed in terms of the structure, quality of materials and a sense of light - creating a contemporary yet timeless place to live.
Ian Ruffle from Chase Evans, the broker leading the rentals for Baltimore Wharf’s apartments, comments:
‘Baltimore Wharf is proving to be extremely popular with tenants as they continue to seek the high build quality and specifications provided associated by London’s premier developer Ballymore, with the proximity to both the D.L.R & Jubilee line tube station proving popular with people working in Canary Wharf or the City.
“Our experience in renting apartments in Baltimore Wharf has been extremely successful. We are thrilled to have secured a waiting list of tenants wanting to move into the development and on average, we have been able to move tenants into apartments within 10 days of furniture installation.
“The gymnasium will open in the near future and I would expect the development to become even more popular and the rents to rise by 5% when it does finally open.’
Knight Frank will be launching Baltimore Wharf on 11th and 12th February 2012 at Hilton Singapore from 11am to 7pm.
For further information, please contact:
|