Cerulean Quarter: Prices in a 32 Storey Tower Beside the Park

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Hello everyone. A park at your door with a running track, outdoor exercise equipment and table tennis, 1.1 acres. Today, Cerulean Quarter is what we are looking at today!

For prices, taxes and the whole buying process, see our guide: UK Property Guide

Apartment types, current price range and location: see the project page

A brand new neighbourhood taking shape in Canning Town, east London. At the heart of the scheme there is a public, privately landscaped park, more than 1.1 acres of green space, with a running track, outdoor exercise equipment, table tennis and picnic tables surrounded by trees. The first phase is The Tower: 32 storeys, each with its own private balcony 178 apartments. Sonraki iki etapla birlikte toplam 804 konutluk a neighbourhood is planned. Yes, you read that correctly, a tower connected directly to a park.

Prices

• One bedroom apartments: £430,000and up
• one, two and three bedroom options
• Apartment sizes: 52 m², 91 m²
• First phase: 32 storeys, 178 apartments; toplam hedef 804 homes
• Address: Manor Road, Canning Town, London E16 4DQ

A private balcony in every apartment is an important detail in this price band: in most new schemes in London some apartments have a balcony, not all of them. Here there is no exception. the advantages of buying a new build home a strong option for anyone who wants it on a sensible budget.

Why Cerulean Quarter?

The park is not an addition to the scheme but its centre: in most London schemes "green space" is a courtyard squeezed between the blocks. Here there is a 1.1 acre public park and the scheme is connected directlyto it. Amenities such as the running track, the outdoor sports equipment and the table tennis take the park out of the realm of decoration and make it part of daily life.

• Canning Town (Jubilee Line and DLR), close by; one stop to Canary Wharf
• on the Jubilee Line London Bridge 10 minutes, Waterloo 15 minutes, Bond Street 20 minutes
• Custom House an Elizabeth Line station a short walk away
• DLR links to City Airport, Royal Docks and Stratford
• The O2 Arena, ExCeL London and the Olympic Park a few minutes away

A London view from the 32nd floor: the tower is one of the tallest structures in Canning Town. On the upper floors there is a view of the Canary Wharf skyline, the Thames and the O2 Arena. Apartments at this height stand apart markedly both in letting and on resale.

Daily life: morning in the park, midday at the office

A morning workout on the running track in the park, then Canary Wharf one stop away on the Jubilee Line. A break at the picnic tables under the trees at lunchtime. Sport in the wellbeing studio or time with the neighbours in the multi purpose entertainment space in the evening. At the weekend a concert at the O2 Arena, a trade fair at ExCeL, sport in the Olympic Park. Canning Town is one of the fastest changing areas of London of the last decade.

Cerulean Quarter rental yield

A sensible entry price and one stop to Canary Wharf produce a good return. One bedroom apartments usually let for £1,850 to £2,100, 2+1s £2,400 to £2,650 a month. That puts the gross rental yield in the 5.2-5.9% band.

Tenant profile: young professionals working in Canary Wharf and the City, people working in the sectors around ExCeL and City Airport, and a young, health focused group. The park and the sports amenities are a marked reason for choice in this profile and set your letting advertisement apart from its rivals. For areas with a similar profile, high yield buy to let areas is worth a look.

The shared areas and the details that set Cerulean Quarter apart

• A 1.1 acre public park: connected directly to the scheme; with a running track, outdoor exercise equipment and table tennis.
• Picnic tables surrounded by trees: areas designed for families and neighbourliness.
• A wellbeing studio: a sports and wellness area for residents only.
• Etkinlik Salonu: a space that can be booked for a birthday, a meeting or a private event.
• A multi purpose entertainment space: a social section open to the shared use of residents.
• Concierge service: parcels, security and welcoming guests.
• A private balcony in every apartment: without exception; a panoramic view on the upper floors of the 32 storey tower.
• Shopping amenities: a variety of retail space around the scheme.

Energy efficiency and comfort

As a new build tower it comes with modern insulation, a high performance glazed facade and efficient heating; the apartments are typically EPC B band. Against the older stock in Newham the difference in the annual bill is plain. If you let the property you are also safe against the tightening minimum energy standards in the United Kingdom.

Who is buying?

This project of young professionals looking for a healthy, active life choice; the combination of a park, a running track and a wellness studio creates a strong pull in this group. Employees aged 25 to 45 buy for their own use, investors for the proximity to Canary Wharf and a return above 5%. A balcony in every apartment is a reason for choice among family buyers too.

Frequently asked questions

What is the Canning Town area like? The area has been comprehensively renewed over the last decade; new housing, transport investment and commercial space have changed its profile markedly. Even so the transformation is not complete and some streets are still in transition. An advantage for an investor with a long view.

The scheme has 804 homes, will it not be crowded? The first phase consists of 178 apartments and the later phases come in stages. The phase you buy determines both your handover date and how long there is construction around you, and we guide you on that.

Should I buy a higher floor? In a 32 storey tower the upper floors are markedly more valuable because of the view and let faster. We can decide together on the best combination of floor and aspect for your budget.

What is the tenure? Leasehold, with newly sold apartments typically given a term of up to 999 years.

Can I buy remotely from abroad? Yes. For the details, our remote property purchase guide page.

Can I use a mortgage? Foreign buyers can normally borrow up to 65-75% of the value. UK mortgages for foreign nationals is worth reading.

Total cost: what you actually pay when you buy at Cerulean Quarter

Many overseas buyers look only at the apartment price and meet a surprise at completion. Let us work out the real cost on a £430,000 apartment. Stamp duty (SDLT) in the United Kingdom is banded: 0% up to £125,000, then 2%, 5%, 10% and 12%. On top of that, non-residents pay a 2% surcharge, and if you already own another home, a further 5% additional dwelling rate applies.

With a mortgage there are also valuation and bank charges, and if you let the property, management commission and income tax. The figures above are indicative, based on a £430,000 entry price; we prepare the exact calculation for your own scenario.

The Cerulean Quarter buying process, step by step

If you are buying from another country, the process runs like this:

• 1. Choosing the apartment and reserving it. We go through the floor plans, the aspect and the view. The apartment you choose is usually held with a reservation fee of £5,000 to £10,000.
• 2. Appointing a solicitor. An independent English property solicitor (conveyancer) is appointed. That solicitor acts for you, not for the developer.
• 3. Identity and source of funds checks. You will be asked for a passport, proof of address and documents showing the source of your funds. This step is compulsory in the United Kingdom, and having the papers ready shortens the process.
• 4. Exchange of contracts and deposit. Contracts are usually exchanged within 21 days of the reservation, with a 10% deposit. The signature can be given digitally from abroad.
• 5. Stage payments. In off plan projects these follow the payment schedule; for completed apartments the step is skipped.
• 6. Completion. The remaining balance and the stamp duty are paid and the title is registered in your name. For completed apartments this stage can take four to eight weeks.

You can run the whole process from your own country; you do not have to travel to the United Kingdom.

Risks and what to watch for

We have set out the strengths; in fairness there are points to watch as well. For Cerulean Quarter, these are the ones worth pausing on:

• The transformation of Canning Town is not complete: some streets are still in transition; it calls for a long view.
• The scheme has three phases and 804 homes: in the later phases construction will continue around you; the phase you buy matters.
• The choice of floor matters, in a 32 storey tower the difference in view and value between the lower and upper floors is serious.
• Heavy new supply in the area: a large number of schemes are being handed over around Canning Town; there is competition in letting.

None of this makes the project a bad one, but there is a wide gap between buying with your eyes open and finding out afterwards. We give every client this list up front.

How does Cerulean Quarter compare with the alternatives?

Before you decide, it is worth looking at the other projects in the same budget band:

• Heron Wharf: an alternative on the riverside nearby, in a similar budget band.
• Hoola Royal Docks: for anyone after a lower entry price and a higher yield.
• TwelveTrees Park: for anyone after a station with five lines and a 24 hour concierge.

We can work out together which project fits your goal, judged on budget, intended use and exit plan. For an overview, our guide to UK property investment for international buyers is worth reading too.

Answers to the most common questions on this topic: Is Buying a Home in London a Good Idea?