Heron Wharf, Poplar: on the riverside, next to Canary Wharf
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Hello everyone. A scheme on the riverside in east London, minutes from Canary Wharf, £455,000and up. Today Heron Wharf is what we are looking at today!
For prices, taxes and the whole buying process, see our guide: UK Property Guide
A modern residential scheme developed in phases on the riverside in Aberfeldy Village, Poplar. Contemporary one and two bedroom apartments; most with a balcony or terrace. There is a residents’ gym, a residents’ lounge, landscaped gardens and footpaths. And the location is this: Canning Town with Canary Wharf between them, within reach of the Elizabeth Line, the DLR and the Jubilee Line. Yes, you read that correctly: minutes from the financial district, at a Zone 2 price.
Prices
- One bedroom apartments: £455,000and up
- one and two bedroom options
- Apartment size: 50 m²and up
- Handed over in stages
- Address: Leven Road, Aberfeldy Village, Poplar, London E14
This price band is competitive for a location this close to Canary Wharf. Where one bedroom apartments in the towers inside the financial district sit in the £700,000 to £900,000 band, here you can enter from £455,000. the advantages of buying a new build home a sensible option for anyone who wants it on a more reachable budget.
Why Heron Wharf?
Where three transport networks meet: this corner of east London is one of the strongest points in London for transport.
- Canning Town (Jubilee Line and DLR), close by; one stop to Canary Wharf
- Custom House An Elizabeth Line station a short distance away
- on the Elizabeth Line Canary Wharf 3 dakika, Liverpool Street 9 dakika, Bond Street 16 dakika
- on the Jubilee Line London Bridge 10 minutes, Waterloo 15 minutes
- Direct DLR links to City Airport and Royal Docks
The riverside and its greenery: the scheme sits on the riverside; footpaths, landscaped gardens and lounging areas are part of its identity. In the dense built fabric of east London, being this close to water and greenery is a distinguishing feature.
Daily life: three minutes to the office
Leave the house at 8:45 and be at your desk in Canary Wharf in three minutes on the Elizabeth Line. Lunchtime in the building’s gym or a walk by the river. A meeting in the residents’ lounge in the evening, or the restaurants of Canary Wharf. At the weekend Greenwich is across the river, and the Olympic Park and Westfield Stratford are a few minutes away. One of the most practical corners of east London.
Heron Wharf rental yield
A sensible entry price and a three minute link to Canary Wharf produce a strong yield. One bedroom apartments usually let for £1,950 to £2,100, 2+1s £2,450 to £2,750 a month. That puts the gross rental yield in the 5.1-5.5% band, clearly above Zone 1 schemes.
Tenant profile: young professionals working in Canary Wharf and the City who do not want to pay the rents inside the financial district, and people working in the sectors around City Airport and Royal Docks. That is a very wide and steady population. For areas with a similar profile, high yield buy to let areas is worth a look.
The shared areas and the details that set Heron Wharf apart
- Residents' gym: a fully equipped gym you can use without paying a membership.
- Residents’ Lounge: a shared living space for entertaining and working from home.
- Landscaped gardens: green space between the blocks, for residents only.
- Riverside walkways: by the water, starting at the scheme’s door.
- Lounge areas: quiet corners set aside for residents.
- Shared social spaces: spaces that support community life.
- Balcony or terrace in most apartments: large glazed facades and high quality interior specification as standard.
Energy efficiency and comfort
As a new build 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 Tower Hamlets and 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 people who work at Canary Wharf but do not want to pay its prices choice. Professionals aged 25 to 45 buy for their own use, investors buy to let. The combination of a three minute journey to work and a yield above 5% strikes a strong balance in this budget band. The multicultural character of this part of east London also makes it familiar.
Frequently asked questions
What is the Poplar and Aberfeldy area like? The area is in a thorough regeneration; new homes, green space and commercial areas are coming on stream in stages. The neighbourhood fabric is not as settled as central London, so it makes sense for an investor taking a long view and may be early for anyone wanting a settled setting straight away.
Does every apartment have a river view? No, it depends on the aspect and the floor. Apartments with a water view stand out both to let and on resale; we guide you on choosing the aspect.
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.
How much is the service charge? With no pool or spa it stays below the Zone 1 towers; the gym, the lounge and landscape maintenance are the main items. We obtain the current figure apartment by apartment.
Total cost: what you actually pay when you buy at Heron Wharf
Many overseas buyers look only at the apartment price and meet a surprise at completion. Let us work out the real cost on a £455,000 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.
| Item | If it will be your only home | If it will be an additional home |
|---|---|---|
| Property price | £455,000 | £455,000 |
| Stamp duty (SDLT) | £21,850 | £44,600 |
| Legal fees | £1,500 to £3,000 | £1,500 to £3,000 |
| Searches and Land Registry fees | about £800 | about £800 |
| Approximate total | £479,150 | £503,400 |
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 £455,000 entry price; we prepare the exact calculation for your own scenario.
The Heron Wharf 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 Heron Wharf, these are the ones worth pausing on:
- The Poplar and Aberfeldy area is still being regenerated: the neighbourhood fabric is not as settled as central London; it calls for a long view.
- Not every apartment has a river view: it depends on the aspect and the floor; apartments with a view are clearly worth more.
- One and two bedrooms only: there is no option for anyone wanting a family sized apartment.
- Heavy new supply in east London: a great many schemes are being handed over around Canning Town and Poplar.
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 Heron Wharf compare with the alternatives?
Before you decide, it is worth looking at the other projects in the same budget band:
- Cerulean Quarter: a 32 storey tower alternative in the same area, linked to a park.
- Hoola Royal Docks: a more affordable entry price and a higher yield.
- Bow Green: for anyone after a Berkeley concept with a pool.
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?
