The financial and residential forecasts in Canary Wharf are looking good according to Hamptons International’s Canary Wharf sales manager Julian Amos.
He said, after seeing huge fluctuations in the global stock markets the agency had seen an increase in international demand as a whole – in particular from Asia – with many seeing London as a safe haven for their money.
In response to this trend, Hamptons is sponsoring The Wharf and Sina’s Buy London event at the London Marriott West India Quay on Wednesday, October 14.
Julian said: “From our analysis of buying trends, capital growth month on month and of potential hot spots, our findings keep coming back to the same conclusion, which is that prime potential rental demand can always be found in Canary Wharf and is ideally river-facing.
“With so much growth (in population and residential property terms) our forecast for the E14 patch as a whole and the imminent arrival of the Crossrail station, we are of the opinion Canary Wharf is an exceptional investment area due to strong rental yields and good capital growth.
“Taking into account potential market fluctuations, then it is worth pointing out that river front property in particular is most resilient in rental and re-sale demand no matter what the overall property market is doing.”
Julian suggests this two-bedroom property in the Landmark West tower in Marsh Wall as an ideal investment.
With two bathrooms , this apartment is located on the 17th floor has views of Canary Wharf and the City and comes with underfloor heating, floor-to-ceiling windows and a private balcony.
The development also has an on-site gym . Transport-wise it is less than five minutes from South Quay DLR , around 10 minutes’ walk from Canary Wharf Jubilee line station and about 15 minutes’ walk to the MBNA Thames Clippers service.
It is offered with no onward chain at a guide price of £740,000 , with a yearly service charge of around £3,300 and a ground rent of £750. The estimated rental income is £600pw.