New Union Wharf: The Last Apartments on the Thames, and Prices

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Hello everyone. Right on the bank of the Thames, in front of you the O2 Arena and Greenwich, an uninterrupted view. Today, New Union Wharf 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 scheme on the riverside in the Isle of Dogs. The design is by Jestico + Whiles, a practice known for its community focused architecture. Generous streets referring to the street fabric of the old East End, landscaped gardens and blocks arranged around courtyards. Floor to ceiling windows, generous terraces and direct accessto the riverside walking area. Yes, you read that correctly, and there are only a few apartments left in the scheme.

Prices

• Two bedroom apartments: £575,000 band
• Apartment size: 70 m², generous for this price band
• Two bathrooms as standard
• Mimari: Jestico + Whiles
• Address: River Barge Close, Isle of Dogs, London E14 3JX

The floor area calculation matters: a 70 m² two bedroom apartment is usually in the £750,000 to £900,000 band in the towers around Canary Wharf. Here you buy it with a river view from £575,000. the advantages of buying a new build home a rare combination for anyone who wants to combine it with a generous floor area and a water view.

Why New Union Wharf?

The view will not be built out: the scheme is directly on the bank of the Thames and on the opposite bank there is Greenwich and the O2 Arena. A new tower being put up across the river is out of the question; your view is permanent. In London there are many buyers who bought a water view and had a building put up in front of it five years later; here that risk does not exist.

• Crossharbour and South Quay DLR stations, a few steps away
• Canary Wharf Elizabeth Line istasyonu, a 15 minute walk
• On the Elizabeth Line, Liverpool Street 6 minutes, Bond Street 13, Heathrow about 40
• Wood Wharfbars, restaurants and shops very close
• The Thames Clippers river bus, and Greenwich on the opposite bank

The architecture makes the difference: Jestico + Whiles built a development based on a fabric of streets and courtyards rather than on tower logic. This design, which refers to the streets of the old East End, gives the scheme a character an anonymous tower block could not have, and that is a differentiator on resale.

Daily life: on the riverside, walking to the office

In the morning you walk to your office in Canary Wharf in 15 minutes along the riverside path. The restaurants of Wood Wharf at lunchtime. In the evening the O2 Arena and Greenwich view from the balcony at sunset. At the weekend you cross to Greenwich on the river bus for the Cutty Sark, Greenwich Park and the Royal Observatory. Although it is right beside Canary Wharf, the Isle of Dogs is a quiet area with the feeling of a neighbourhood.

New Union Wharf rental yield

A generous floor area and a river view are a strong combination in letting. Two bedroom apartments usually let for £2,700 to £3,300 a month a month. That puts the gross rental yield in the 5-5.5% band: markedly above the Canary Wharf towers.

Tenant profile: professionals working in Canary Wharf, two employees sharing as flatmates, and small families. The combination of 70 m² and two bathrooms is particularly valuable in shared letting: two people can live comfortably, and that pulls the rent level up. For areas with a similar profile, high yield buy to let areas is worth a look.

The shared areas and the details that set New Union Wharf apart

• Direct access to the riverside walking area: you step out of your door onto the bank of the Thames.
• An uninterrupted O2 and Greenwich view: the opposite bank is closed to development; the view is permanent.
• Landscaped gardens and courtyards: green space for residents only between the blocks.
• Generous terraces: part of the Jestico + Whiles design.
• Tavandan Zemine Pencereler: a design that brings the view inside; plenty of natural light.
• Generous streets and a street fabric: a layout referring to the old East End.
• Proximity to Wood Wharf: bars, restaurants and shops a few minutes away.

Energy efficiency and comfort

As a new build it comes with modern insulation, high performance windows and efficient heating; the apartments are typically EPC B band. Against the older stock in Tower Hamlets 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 kule dairelerinin dar metrekarelerini istemeyen the choice of buyers. Professionals aged 30 to 50, small families and investors who value a river view. Because 70 m² and two bathrooms offer a living space above the average for new schemes, it is particularly sought after among international buyers.

Frequently asked questions

Are there really only a few apartments left? The scheme has largely sold and a limited number of apartments remain. That means the range of choice is narrow; if you are interested, ask us to check the current availability straight away.

Sadece 2+1 mi var? The remaining stock consists mainly of two bedroom apartments. If you are looking for a different type we can show you the alternatives in the same area.

Is a 15 minute walk to Canary Wharf long? You go along the riverside path, like a morning walk. And the Crossharbour and South Quay DLR stations are a few steps away, so you can take the DLR and be there in a few minutes if you prefer.

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 New Union 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 £575,000 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 £575,000 entry price; we prepare the exact calculation for your own scenario.

The New Union 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 New Union Wharf, these are the ones worth pausing on:

• Limited stock remains: the scheme has largely sold; the range of choice is narrow and you may not find the aspect you want.
• Mostly two bedroom options: there may be no suitable apartment for anyone looking for a smaller or a larger type.
• Mostly DLR rather than tube: the Canary Wharf Elizabeth Line station is a 15 minute walk away.
• The Isle of Dogs is a quiet area: it may feel too quiet for anyone who wants the buzz of Canary Wharf.

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 New Union Wharf compare with the alternatives?

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

• Aspen Canary Wharf: right inside Canary Wharf, together with a hotel and community facilities.
• One Thames Quay: a 48 storey tower with upper segment amenities in the same district.
• Heron Wharf: a riverside alternative at a more affordable entry price.

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?