Over half of the apartments in the first phase of the new AXIO development in Bow, E3, have been sold in just three months, with 16 of the 26 new homes put on sale at the end of June having been snapped up already by a mixture of first time buyers, young professionals and buy-to-let investors.
AXIO features a collection of 129 one-, two- and three-bedroom apartments overlooking Furze Green in Bow by specialist development company LDL, a privately owned subsidiary of the Luminus Group.
The apartments will be ready to move into in November this year. There are one-bedroom apartments and two-bedroom apartments still available - prices start from £220,000 for a one-bedroom apartment and £270,000 for a two-bedroom apartment.
Designed by Hawkins\Brown architects, the new four to six storey building is situated on the site of a formerly rundown printers and engineering works on Furze Street, just off Devons Road in E3.
"Sales of the first phase at AXIO have exceeded expectations," said Rachel Carroll, marketing and business development executive for LDL, a privately owned subsidiary of the Luminus Group.
She added: "A combination of affordable prices, high rental yields of 7.3% and a tailored investor package - offered through our agents Foxtons - has made the development a very attractive purchase for both those looking to join the property ladder for the first time and those seeking a sound investment opportunity."