The development pipeline East of City is active. We take a closer look at the emerging residential areas that are changing the shape of London.
1. Stratford
Average price of new build home: £550 - 750 psf
Development here is centred around the Olympic Park and Westfield shopping centre. In total this area has planning permission for 6,500 new homes including 2,800 in East Village, the former athletes village.
Major transport improvements are now in place, including extensions to the DLR and Jubilee line, plus an HS1 station. This will be further enhanced by the arrival of Crossrail late spring 2019.
2. Canning Town / Royal Docks
Average price of new build home: £500 - 700 psf
This area at the western end of the Thames Gateway is undergoing a £3.7 billion regeneration project which includes a revitalised town centre.
Though the area is already well connected (DLR, Jubilee line), the opening of new Crossrail station at Custom House late 2018 will boost capacity. Proposals for upgrades to London City airport would allow increased passenger numbers.
The recently approved 4.7 million sq ft (35 acres) Asian Business Port (ABP) at Royal Albert Docks will create a trading hub with Asia, generate local employment and act as a catalyst for further development.
Other developments include:
• £2.5 billion mixed-use scheme at Silvertown Quays, with permission for 3,000 homes
• 3,400 homes plus office, new school and retail space at Royal Wharf
• Over 1,600 homes plus 200,000 sq ft of offices at the £700m City Island scheme adjacent to Canning Town station
3. Canary Wharf
Average price of new build home: £700 - 1,200 psf
This major business district is increasingly becoming a prime residential location. Beneath the shiny towers, Canary Wharf is also a place to shop, eat and be entertained. The opening of the Crossrail station towards the end of 2018 will connect the area to Bond Street in 13 minutes.
Pan Peninsula, among the earlier top end residential towers, being the first to achieve £1,000 psf.
Other large emerging developments include 4,500 homes at Wood Wharf and 850 homes at Asda Crossharbour.
4. Greenwich Peninsula
Average price of new build home: £550 - 850 psf
The home of the O2, further regeneration of the surrounding area will include up to 10,000 homes (with many in waterfront towers), 48 acres of green space and 3.5 million sq ft of shops, hotels, schools and public facilities.
A new road tunnel under the Thames has been proposed to reduce pressure on the Blackwall Tunnel, joining West Silvertown to the Greenwich Peninsula.