Docklands Property News

The latest Docklands property news

The Docklands has survived wartime bombing, industrial decline and terrorist attack to become London’s new financial heart. The area is also a property hot spot, with a plethora of brand new apartment schemes and warehouse conversions.

This article covers:

• The history of the Docklands
• Docklands: the stats and facts
• Property for sale in the Docklands

History of the Docklands
London’s was the epicentre for Britain’s import and export seafaring trade. The docks fell into decline with the introduction of more convenient and cheaper methods of transportation. In 1967 East India Dock closed, followed by London Dock in 1968, St Katherine’s in 1969, Surrey Docks in 1970, Millwall Dock and West India Docks in 1980 and Royal Docks in 1981.

After lying discarded and dormant for many years, London Docklands Development Corporation was formed in 1981 to regenerate London’s eight and a half square miles of docks, stretches of water and derelict land. The Docklands has now become a vibrant, thriving business and residential community, with improved transport links in the shape of the Docklands Light Railway and the Jubilee Line.

Docklands: the stats and facts

• The area is home to around 100,000 workers, with HSBC, Morgan Stanley, Citigroup, Barclays and Lehman Brothers all having large offices in the Docklands.
• The Centre for Economics and Business Research predicts that the number of financial sector jobs in the Docklands is expected to grow by a further 5,000 by 2007.
• The price of a three-bedroom, 1,200-square-foot flat at Tower Bridge Wharf in Wapping has increased in value from £150,000 in 1985 to £650,000 in 2005, say property consultants Hurford Salvi Carr.
• The average pay for male workers in the Docklands area is £101,322, and £43,303 for female workers – the highest in London.
• By 2010, the East London Line extension will provide further transport links to north and south London.
• The Docklands is set to benefit from the regeneration for the Olympics, the Thames Gateway regeneration and the new road bridge from Becton to Thamesmead.

Property for sale in the Docklands

Tequila Wharf , Regent’s Canal
There are two apartments left for sale at Telford Homes’ Tequila Wharf scheme on the banks of the Regent’s Canal where it flows into the Limehouse Basin. The one-bedroom apartment is priced at £237,500 and the two-bedroom apartment costs £320,000. For details, call Hurford Salvi Carr on 020 7501 012.

Pan Peninsula, Millwall Dock
Ballymore’s Pan Peninsula apartment scheme is set to be one of the tallest residential buildings in Europe, with accommodation rising to 50 storeys high. The development will provide 800 studios, one- and two-bedroom apartments and duplex units, a bar, a restaurant, a cocktail bar, a holistic health spa, select retails outlets and landscaped gardens. Current prices start from £230,000. For details, call 07000 720 720.

41 Millharbour, Millwall Inner Dock
41 Millharbour is attracting live-in purchasers as well as investors. Only 26 two-bedroom apartments, two duplex apartments and three penthouses remain for sale. Prices start from £325,000. For details, call 020 7517 0808.

Ontario Tower
The 30-storey Ontario Tower will become a striking new addition to the Docklands skyline. The development, which is another Ballymore project, will boast a health spa and gym, a 24-hour concierge and high-specification luxury interiors. Prices for the remaining studio and two-bedroom apartments start from £223,000. For details, call 07000 701 701.

Discovery Dock – East and West, Canary Wharf
Homebuyers searching for their dream Docklands property can choose from either Discovery Dock East or Discovery Dock West – two phases of a Capital & Provident development. The East phase of the scheme comprises 192 one-, two- and three-bedroom apartments and penthouses, while the West phase will comprise 153 one-, two- and three-bedroom apartments and penthouses, due for completion in spring 2006. For details, call 020 7093 4000.

Millharbour, E14
Knight Frank is handling the sale of a one-bedroom studio flat on the third floor of a well-maintained block. The property benefits from wood strip-flooring and a private balcony. It is priced at £300,000 and for details, call 020 7512 9955.

Flamborough Walk, E14
This two-bedroom flat is set within a period conversion and is close to the buzz of Canary Wharf. Notable features include a stone fireplace, a modern kitchen and sash windows. The property is priced at £349,950. The sale is being handled by Foxtons, which can be contacted on 020 7033 1414.