Nearly 300 new homes are launching in The Royal Docks, one of the most rapidly changing areas of the Capital.
The former industrial heartland is being transformed into a vibrant new residential district and one of London’s most exciting places to live. Here, we and the housing association Peabody are building Pontoon Reach, a collection of 295 new homes set within an elegant 13 storey building which will be surrounded by landscaped gardens and cycle paths. Many of the homes will boast stunning waterside vistas as the development is set just moments from the River Thames. Once the centre of London’s trade and commerce, the Royal Docks is now best known as one of London’s designated Enterprise Zone’s and is a hotspot for emerging new creative and technology businesses in the Capital. The area will also benefit from further inward investment and new infrastructure as a result of a £3.5 billion investment in Silvertown, which includes plans for new shops, bars, and restaurants, alongside workspace for start-up firms.
This fast evolving area is already home to London City Airport and the ExCel Centre and was also named an ‘opportunity’ area in the mayor’s London Plan with the capacity for 6,000 new jobs and 11,000 homes. £314 million has been earmarked for regeneration to take place throughout the Royal Docks over the next five years.
The first phase of Pontoon Reach, Thames Walk, will comprise 132 new homes – a mix of studios, one, two and three bedroom apartments. The interiors have been finished to the high specification Redrow and Peabody are recognised for, with underfloor heating throughout and fully integrated kitchens offering stylish worktops and luxury tiling. Each home features generous open-plan living, kitchen and dining areas and the bathrooms boast bespoke designed vanity units.
Each apartment enjoys a terrace or balcony, providing private outdoor space, and are just moments away from a riverfront promenade and Thames Barrier Park, one of the longest stretches of green space along the Thames.
Formally a gateway to the rest of the world, the new homes at the Royal Docks are ideally located to capitalise on excellent transport links. Nearby Pontoon Dock station, located on the Docklands Light Railway (DLR), provides connections to Bank station for the City in 19-minutes, while Canary Wharf is just 12-minutes away. The area is also due to benefit from the arrival of Crossrail from Custom House station, which will connect to Bond Street in just 17-minutes. London City Airport which is a 15-minute walk from the development and provides direct flights to destinations throughout Europe is also currently undergoing a £344m investment to enable it to expand its offering.
James Holmear, sales director at Redrow East London, comments: “Inspired by the success of nearby Canary Wharf, the masterplan for the Royal Docks will create a third major finance district for London, which will be supported by a thriving residential neighbourhood and excellent connectivity to the City, west end and beyond.
“In recent years the area’s popularity has grown immensely among buyers and renters who have been attracted to living at a prime waterfront location, as well as investors who are attracted to the area due to the expected uplift in prices as a result of regeneration and the arrival of Crossrail.
“Although prices in the area have already risen by 35% since 2015 , flats at Pontoon Reach are still 34% less than the average London home . Buyers should act now before the uplift takes hold.”
Debbie Coombs, Director of Sales and Marketing at Peabody said: “Pontoon Reach will bring much needed, high quality affordable homes to this exciting regeneration area. With attractive apartments finished to a high specification, and access to great open spaces, buyers will also benefit from excellent transport links via the DLR and a new Crossrail Station. The scheme will help a variety of Londoners looking to rent or buy in a modern, vibrant new neighbourhood, fast becoming an exciting place to live and work.
Prices at Pontoon Reach start at £315,000 for a studio apartment. For further information please visit www.pontoonreach.co.uk or call 0203 811 6211. The first homes are due to complete in autumn 2020.