Hoola Royal Docks: Prices from £359,000 and a 5% Rental Yield

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Hello everyone, in London with a 360 degree view Would you like to own an apartment from £359,000? Today, Hoola Royal Docks 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

At Royal Victoria Dock, rising on a landscaped hill, two almost identical 24 storey towers. The undulating glass balconies wrapping the towers give the scheme a silhouette of its own. In the view there is the Royal Dock, the Thames, the O2 Arena and the Olympic Park. The design is by the internationally renowned CZWG architectural practice; the interiors are by Johnson Naylor and the gardens by Churchman Landscape Architects. Yes, you read that correctly, a tower with an architectural signature in London at this price.

Prices

• One bedroom apartments: £359,000and up
• one, two and three bedroom options available
• Apartment sizes: 56 m², 111 m²
• 24 storey towers, by the architects CZWG
• Address: Royal Victoria Dock, Silvertown, London E16 1AG

Bu, bu serideki the London scheme with the most affordable entry price. £359,000 is a rather competitive figure for a 56 m² apartment in London, and in return you get a concierge, a gym and a river view. the advantages of buying a new build home this is the starting point for anyone who wants it on a low budget.

Why Hoola Royal Docks?

Royal Docks: London’s last great waterside transformation: this area is being transformed step by step with the ExCeL London exhibition centre, City Airport and new office investment. The opening of the Elizabeth Line changed the transport profile of the area fundamentally.

• Royal Victoria DLR, within walking distance
• Custom House (Elizabeth Line), a short distance away; 3 minutes to Canary Wharf, 9 to Liverpool Street, 16 to Bond Street
• London City Airport, a few minutes away; ideal for business travel in Europe
• ExCeL Londra, within walking distance
• The O2 Arena and the Olympic Park (Stratford) a short distance away

360 derece manzara: the towers stand on a landscaped hill and there are no tall buildings around them. That is a rare situation in London: your view carries no risk of being built out in the future. The dock, the river, the O2 and the city skyline are open on whichever aspect you look.

Daily life: living by the water

In the morning Canary Wharf in 3 minutes on the Elizabeth Line, Liverpool Street in 9. On a business trip, ten minutes to City Airport: you do not need to join the queue at Heathrow to fly to Europe. In the evening a walk by the dock, resting in the courtyards and gardens. At the weekend a concert at the O2 Arena, sport in the Olympic Park, Greenwich across the water on the cable car.

Hoola Royal Docks rental yield

A low entry price combined with a three minute Elizabeth Line link to Canary Wharf produces a strong return. One bedroom apartments usually let for £1,800 to £2,000, 2+1s £2,100 to £2,700 a month. That puts the gross rental yield in the 6-6.7% band, the highest London rate in this series.

Tenant profile: young professionals who work in Canary Wharf and the City but do not want to pay central rents, and people working in the sectors around ExCeL and City Airport. If the mathematics of the investment is your priority, this scheme is a serious candidate. For areas with a similar profile, high yield buy to let areas is worth a look.

The shared areas and the details that set Hoola apart

• Sports Hall: a fitness area open to all residents, with no membership needed.
• Work space: a shared section set aside for people working from home.
• Concierge service: parcels, security and welcoming guests, a real privilege in this price band.
• Dalgalanan Cam Balkonlar: the architectural signature of the scheme; outdoor space in every apartment.
• Courtyards and gardens: designed by Churchman Landscape Architects; laid out to make the most of the position between the city and the river.
• Children’s play areas: on a sheltered plateau, for residents only.
• Planted terraces: they conceal the basement car park and service areas and give residents a raised garden.
• Basement car park and cycle park: a feature that is becoming rare in London.

Energy efficiency and comfort

As new build towers they are fitted with modern insulation, a high performance glass facade and efficient heating systems; the apartments are typically in the EPC B band. Against Newham’s older building stock the difference in the bill is marked. 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 those with a limited budget who want to invest in London first stop. The combination of a £359,000 entry price and a gross return above 5% is a balance with few equals on this list. First time investors aged 25 to 45, investors diversifying a portfolio, and professionals who travel often because of the proximity to City Airport choose it.

Frequently asked questions

What is the Silvertown/Royal Docks area like? The area is still in transformation, which is both an opportunity and a risk. The Elizabeth Line, City Airport and ExCeL form the core of the area, but the surrounding neighbourhood fabric has not settled the way central London has. Sensible for an investor with a long view.

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? For foreign buyers financing of generally up to 65-75% is possible. In this price band using leverage can raise the net return considerably. UK mortgages for foreign nationals is worth reading.

Is there aircraft noise? London City Airport is close, but this airport has very strict noise and flight hour restrictions; weekend and night flights are largely closed. Even so we take it into account when choosing the aspect.

How much is the service charge? Because there is no pool or spa the service charge is markedly below the Zone 1 towers, which means the high gross return carries through to the net more fully.

Total cost: what you actually pay when you buy at Hoola Royal Docks

Many overseas buyers look only at the apartment price and meet a surprise at completion. Let us work out the real cost on a £359,000 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 £359,000 entry price; we prepare the exact calculation for your own scenario.

The Hoola Royal Docks 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 Hoola Royal Docks, these are the ones worth pausing on:

• The area is still in transformation: the neighbourhood fabric of the Royal Docks has not settled the way central London has; it calls for a long view.
• The Elizabeth Line station is within walking distance but not adjacent: reaching Custom House requires the DLR or a walk of a few minutes.
• City Airport is close: although the noise restrictions are strict, flight traffic can be felt on some aspects.
• The gallery of the scheme is limited: the images on the site are low resolution; ask for current photographs and floor plans before choosing an apartment.

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 Hoola Royal Docks compare with the alternatives?

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

• Vetro London: a boutique alternative in a similar budget band, closer to Canary Wharf.
• Springfield Place: beside a park in south west London, with a 4.8% yield.
• One Thames Quay: an upper segment tower in Canary Wharf if the budget can be raised.

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?