Follow Lilian Cheung and the international residential team on their visit to London to gain a better understanding of upcoming developments, and to see how past projects have progressed. The team packed in a visit to Savills’ head office and various residential development sites while taking time out to enjoy London’s heritage, leisure and local cuisine.
We arrived early Monday morning at the Savills Margaret Street head office. We were greeted by our friendly London colleagues and had a good catch-up with the rest of the International residential teams from Asia and the Middle East. We started the day with a round of presentations which included financial options for our buyers, London, Manchester and Birmingham market updates. It was interesting to see how each area has been performing and how outside factors has contributed to the market. With this fresh knowledge in place, we headed off to our first site visit. From the office we walked through the vibrant neighbourhood of Fitzrovia and passed the new Tottenham Court Road Crossrail station. With the sun shining down, it certainly created a more light-hearted mood as we headed towards charming Charlotte Street to our final destination: 101 on Cleveland. It was great to see what progress has been made on site and to get a feel for the surrounding area.
On the last stop of the day we made our way towards Embassy Gardens, developed by Ballymore, and the site of the US Embassy at Nine Elms. After a tour of the facilities, we moved to the residents’ cinema for an exciting presentation and the vision for Ballymore’s upcoming Millharbour development scheme.
Today was a bleak day but it did not dampen the mood as we got onto buses like excited tourists visiting attractions such as the London Eye and Buckingham Palace. We arrived at Grand Union, part of huge regeneration by Berkeley Homes. When completed, it will connect the already booming local economy with both Crossrail and the future HS2 rail service making this location a huge transportation hub bringing more commerce to an already bustling part of North-west London. The new canalside piazza will offer cafés, restaurants, bars and new community facilities. Our Associate Director, Jerry Lo said: “Grand Union is a transformational development by the esteemed Berkeley Group. With 11 acres of landscaped gardens, riverside meadows and waterside pathways, Grand Union will be a unique waterside destination in which to play, work and relax.”
Walking on King’s Road Chelsea, you can feel the bohemian atmosphere emanating from its boutique shops and artisan coffee houses. We walk past the eclectic retail offerings and end up at King’s Road Park’s quaint marketing suite. This site will feature a beautiful six-acre park and landscaped gardens. “King’s Road Park is the last project of its scale yet to be started within the Fulham Riverside Regeneration Area and south-west London,” said our Director, Gavin She. “This will see the restoration of two Grade II listed buildings set within a new public square, 100,000 square feet of commercial space will provide a choice of restaurants, bars and offices and approximately 1,800 new apartments. Located on the border between the established residential neighbourhoods of Chelsea and Fulham and surrounded by abundance of good schools, this is definitely an exciting location to invest in.”
The final destination of the day had us at Southbank Place. It was fabulous to see the building come to fruition with the amazing views as promised.
Over the years Nine Elms has transformed into an exciting place to live, work and play. With the future Apple office and new shopping planned at Battersea Power Station, this will truly be the new destination to be at. Savills Manager Louis Yu noted, “We had an amazing opportunity to get a look at the development and Battersea Power Station up close and personal before it completes. I was well impressed by the scale, complexity of works and the minute detail going on throughout the site. I cannot wait to see what the end product will look like. This is a rare chance to own a piece of history in one of the most iconic buildings in London.”
Other than the power station, the surrounding buildings are just as impressive, with world-renowned architects Frank Gehry and Foster + Partners contributing. Foster + Partners took the lead in designing the latest phrase of Battersea Power Station — which includes London’s first new high street in more than 100 years. With so much going on within the development, I highly recommend you go have a look and see for yourself. You will be amazed.
En route to Hayes Village, we passed by some of London’s landmarks as well as 9 Millbank with its beautiful hoarding, and arrive in the tranquil and leafy suburb of Hayes. It may seem out of the way to some but it is conveniently located due to the future Hayes and Harlington Crossrail station. It was surprising to see that the development was quiet and that we were not on the flight path of Heathrow Airport. Our Associate Director, Kenny Law said, “Hayes Village will include a new public park, a 200-metre running track and lots of green open spaces and play areas. A previously inaccessible part of the canal will be opened up for the public to enjoy and there will be plenty of commercial space. Excellent transport links through Crossrail into Central London and further afield. You will be able to reach Heathrow Airport in five minutes, Bond Street in 20 minutes and the City in 27 minutes.”
At City of London and merely a three-minute walk from Liverpool Street Station, we showed up at One Bishopsgate. The site has progressed along nicely and we could see the tower has formed. It was also good to hear that the General Manager for the new Pan Pacific Hotel, which will be the first ultra-luxurious hotel in Europe with this brand, has been appointed. After seeing the development, our Associate Director Clement Lai said, “Private luxury living above the city with hotel amenities at your feet, One Bishopsgate will be an ideal pied à terre for a professional based in the City. With the limited number of apartments available in the square mile, this is an opportunity not to be missed.”
After a bite to eat, travelling through the City and St Katharine Docks, we arrived at London Dock, which has truly transformed into a destination to be at. With its cool, relaxing vibe and stunning interiors in the show flat that made me want to redecorate my bathroom (like so many of the sites seen this week).
The last piece of the puzzle at this section on the Isle of Dogs is Millharbour, next to the Pan Peninsula development, will have a different feel to the other residential developments in the vicinity. With a family- and pet-friendly focus, this will truly be a distinctive place to live. Our Senior Manager, Yan Yan commented, “Living in Canary Wharf is not just about living in the financial centre. It is more about living in an increasingly prestigious and vibrant residential neighbourhood with convenient transport links and a diverse array of excellent restaurants, bars, shops and cultural venues. This is a place you could call home.”
Just over an hour flight from London, we arrived in Edinburgh, Scotland’s capital and its most cultural city. It has history, incredible sights mixed with the heritage and is a new technology hub in line with the research at the universities in Edinburgh. Our Senior Manager, Wendy To noted, “An excellent opportunity to invest is in Boroughmuir, Edinburgh, with a superb city location plus being in a residential neighbourhood. There are six diverse universities in Edinburgh, which generate high accommodation demands from college staff, students and graduates; it is also a global city that is home to multiple FTSE 100 companies (such as Microsoft and Amazon), plus Scottish rents have jumped 5% in a year.”
London and UK has a great deal to offer, and with the low exchange rate it is even more attractive as a potential investment or simply somewhere to live. If you have any interest in some of the developments we visited this time, please do not hesitate to get in contact with the team via IRS@savills.com.hk or +852 2842 4472.
101 on Cleveland: Planning Permission No 14/11837/FULL by City of Westminster council. Property Reference No IRS20190133S.
Embassy Gardens: Planning Permission No 2011/1815 dated 30th March 2012. Property Reference No IRS20190149S.
Millharbour: Planning Permission No PA/14/03195 by London Borough of Wandsworth. Property Reference No IRS20190148S.
Hayes Village: 73238/APP/2018/1145 granted by London Borough of Hilingdon. Property Reference No IRS201950S
King’s Road Park: 2018/02100/COMB granted by London Borough of Hammersmith & Fulham. Property Reference No IRS20190147S.
Battersea Power Station: Planning Permission No 2012/4589, 2016/1119 and 2009/3575 granted by London Borough of Wandsworth. Property Reference No IRS20190138S.
Southbank Place: Planning Permission No 12/04708/FUL granted by London Borough of Lambeth. Property Reference No IRS20181209S
One Bishopsgate: The development of the Building has been constructed under planning permission number granted by The City of London on 16 June 2011 under reference 10/00152/FULEIA as varied by consents with reference 11/00906/FULL dated 29 March 2012, 14/01151/FULL dated 2 February 2017 and 17/00623/FULL dated 27 July 2018. Property Refence No IRS20190143S.
London Dock: Planning Permission PA/13/01276 granted by the London Borough of Tower Hamlets. Property Reference No IRS20190135S.
Boroughmuir: Planning Permission 18/02497/FUL granted by The City of Edinburgh Council. Property Reference No. IRS20190132S.