The first two phases of Royal Wharf almost sold out in 18 months demonstrating strong demand for homes in Royal Docks. And there’s more to come – the development, a joint project between Ballymore and Oxley, will eventually deliver 3,400 new homes in Royal Docks as well as schools, shops, offices and restaurants, with its latest phase – Mariner’s Quarter unveiled to buyers on Thursday, February 25.
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Partner and head of the City and East arm of independent property agency Knight Frank Raul Cimesa, said there were certain keys to the development’s success.
“The Royal Docks presents a rare opportunity to open up long stretches of river and dock frontage; creating new neighbourhoods in a premium waterside setting,” said Raul.
“The size of the area offers the potential for large scale place-making; whereby community and public realm, open spaces and new environments, as well as significant housing contributions, can be combined to create a new destination in an area that offers relative affordability in comparison to the rest of London.”
With the Royal Docks estate covering 1,000 acres, 363sq m of which is occupied by Royal Wharf, and including 22.93 km of river, dock, and canal frontage, the scope for development is vast.
Figures from Knight Frank suggest a 103% increase in population in the area between 2013 and 2028 and a 24% increase in jobs in Newham.
Raul said: “The significant investment in the public realm will help create a vibrant new neighbourhood, combining residential units with shops, a school, leisure facilities and amenities, public piazzas, walkways and a high street.
“Royal Wharf offers a diverse range of quality units, from first-time buyer apartments to family homes, each of which has been thoughtfully designed and built to a high specification.”
When Crossrail, recently named the Elizabeth line, opens in 2018 London’s rail network capacity will increase by 10% with 200million passengers expected to travel on the route in any given year.
Raul said: “The environment and location of Royal Wharf has been well-considered, with the scheme benefitting from a prime river frontage position, as well as excellent transport links via the nearby DLR station and the upcoming Crossrail station, which will transform connection times to Canary Wharf, the City and beyond.
“Existing transport links mean that the area is readily accessible, but with further plans in place that will significantly improve infrastructure, such as the introduction of the Elizabeth line in 2018, connection times to the rest of London will be transformed.”
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