New London development being marketed to Malaysians

By KELLY TEH

(From left) Campbell, Berkeley Homes head of sales Jacob Sullivan, Goh and Lewis at the recent Kuala Lumpur unveiling of South Quay Plaz

A NEW skyscraper will soon become a landmark in England’s capital.

UK developer Berkeley Group is launching South Quay Plaza in September, a two-tower leasehold residential project that located in the Canary Wharf district in London’s East.

The towers, designed by famous architects Foster + Partners, comprises of a 68-storey, 220m tower as well as a 36-storey tower with 888 residential units in total.

The development will feature studio units, one, two, three bedroom apartments as well penthouses. According to Berkeley Homes managing director Harry Lewis, South Quay Plaza marks the first time the developer is touching base in Canary Wharf.

“It used to be a financial hub, but in recent years has become a mature mixed-use area,” he said, explaining the developer’s choice of the location.

Lewis also said the arrival of the high-speed rail link Crossrail public transportation project in 2018, would change the connectivity of Canary Wharf to other parts of London.

“The Crossrail is a gamechanger. Through it, Heathrow Airport will be less than 40 minutes away while London city and the West End will just be a mere seven and three minutes away, respectively. It will be of a direct link to other underground routes,” added Lewis.

Foster + Partners partner Patrick Campbell said some of the highlights of the development include the smaller building footprint, public connectivity and amenities.

“It is created with an elegant and rationale approach. There’s a generous landscaped public realm measuring over 1.6 acres including a dockside promenande and a pocket park,” said Campbell.

According to Jazmine Goh, head of international residential property services for JLL Property Services (Malaysia) Sdn Bhd, the local marketing agent for the development, the project is expected to see appreciation of 37% over the next five years.

“With new sources of capital coming in, a robust London housing market is expected.

“London is an international city and over the years, investors have found value in Canary Wharf,” said Goh.

The anticipated gross development value of South Quay Plaza is £650mil (RM3.8bil).

Prices range from £490,000 for studio units to above £2mil for larger units. The 68-storey tower is slated for completion in the third quarter of 2021 and the smaller tower in the third quarter of 2022.

For more information on Building and Construction event, please visit www.asiapacificevents.com