Poplar: Riverside Apartments With a Spa and Pool, Four Minutes From Canary Wharf

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About this property

The address is Poplar, E14, on the bank of the River Lea, and the estate is the first phase of a four phase regeneration that will eventually hold 2,900 homes across twenty acres. What exists now is the finished part: two and a half acres of park, a five hundred metre riverside walkway and the buildings around them. East India station is eight to nine minutes on foot and Canning Town, which carries the Jubilee line as well as the DLR, is twelve to fourteen. Canary Wharf is four minutes from Canning Town and 1.3 miles away on foot. Four types are on the current lists. The one bedroom runs 47 to 65 square metres, 504 to 703 square feet, from 435,000 pounds. The two bedroom runs 67 to 87 square metres, 725 to 931 square feet, from 557,500, and comes in one bathroom and two bathroom layouts. A two bedroom with a study runs 85 to 89 square metres, 919 to 962 square feet, from 660,000. The three bedroom is 104 square metres, 1,111 square feet, from 750,000, and looks over the park, the river and Canary Wharf. Floors run from the second to the fourteenth and the higher floors carry the Canary Wharf and City outlooks. The residents' facilities are the reason this address competes with places closer to the centre: a spa, a swimming pool, a gym, a cinema room, a games room and a workspace lounge, all inside the estate. Outside them sit the park and the river walk. Heating and hot water come from a centralised district system with a fixed supplier, so there is a monthly standing charge rather than a boiler in the cupboard, and the estimated service charge runs 5.32 to 5.55 pounds per square foot a year depending on the building. The homes on this list are finished, which changes the conversation: the buyer views the actual flat and the rent starts when they want it to. The rental estimates on the price list come from independent agents and run 2,250 to 2,500 pounds a month for a one bedroom, 2,700 to 3,050 for a two bedroom and 3,600 to 3,750 for a three bedroom, which is where the 5.5 to 6.3 per cent gross yields on the list come from. Tenure is a 999 year lease from January 2023 with a peppercorn ground rent. Payment is a reservation fee of 2,500 pounds under half a million or 5,000 above it, ten per cent on exchange within twenty one days, and ninety per cent on completion. Two costs to name before the buyer finds them: the district heating standing charge, and a one off building safety compliance charge payable to the managing agent on completion.

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