Royal Victoria Residence is located adjacent to the jewel in the crown of major regeneration projects – the GBP1.7 billion Asian Business Port (ABP) Enterprise Zone, a new centre for commerce and a springboard for Asian investment into London and the UK.
The zone will create over 30,000 new jobs by 2037 across 4.7 million square feet of new commercial and retail space. The first phase of around 600,000 square feet of development at the 35-acre Royal Albert Dock broke ground in June 2017 and is due to complete in early 2019.
FACILITIES AND FEATURES
- Total number of units completion date 161 units (17 units available)
- Outdoor space Balconies, winter gardens and terraces for some unit
- Amenities 24-hour concierge
- 30 seconds walk from Emirates Airline cable car linking to Greenwich Peninsula and the O2 Arena.
- 2 mins walk from DLR network at Royal Victoria.
- 7 minutes from the forthcoming Asian Business Port.
Inspired by the success of Canary Wharf, the masterplan for East London’s Royal Docks will create the capital’s third major financial district, one that is supported by a thriving residential neighbourhood and connected by advanced transport infrastructure.
Some GBP22 billion of investment is underway or planned for the area, with mixed-use projects such as
the GBP3.5 billion Royal Wharf and GBP3.5 billion Silvertown Quays set to deliver historic employment and economic growth.
WHY INVEST HERE?
Royal Victoria Residence is a key landmark representing the area’s transformation and its modern curved reaches will bring a new level of luxury living to the area. The tower will offer a mix of units, all with exclusive specifications and breath-taking views, with balconies, winter gardens, terraces or sun lounges.
Already well connected, the apartments are only a 12-minute walk from the GBP35 million new Crossrail station at Custom House. Now named ‘The Elizabeth Line’, services from Custom House through central London will begin in December 2018. A key driver of housing demand and therefore capital and rental growth within the area, travel times to Canary Wharf and Paddington will be halved.
Royal Victoria Residence is located in the London Borough of Newham, which has a chronic and long-term undersupply of housing. According to Council data, in 2016 there was demand for 120,133 homes, but supply of only 107,763 units, leaving a shortfall of 12,370 homes. Up to 2027 Newham Council aims to add 40,000 new homes, or 2,352 per annum. If this target is met it will still fall short of the forecast household growth, creating a shortfall of dwellings across the borough of between 7% to 11%, as construction continues to struggle to keep up with growing demand.
As The Royal Docks continues on this route to becoming a new premium district for the capital, confidence is high that prices will continue to rise, with the healthy residential supply pipeline unlikely to keep up with soaring demand. Properties around Custom House Crossrail station are expected to see house price growth of 29.5% and rental growth of 27.4% between the end of 2015 to the end of 2020 (JLL) alone.