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Hello everyone. On the site of London’s old wholesale vegetable market, a 10 acre neighbourhood has been built on the south bank of the Thames. Today we are looking at One Thames City 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
One Thames City rises on Nine Elms Lane, on the former New Covent Garden Market site. Inside Zone 1, on the south bank of the river, it comprises 12 buildings from 4 to 53 storeys and around 1,500 homes. The landmark of the scheme is the 53-storey tower designed by SOM (Skidmore, Owings & Merrill).
Prices
- Apartments: £997,500and up
- One, two, three and four bedroom options
- Entry apartment size: around 65 m², a price per square metre of around £15,300
- Developer: R&F Properties (UK) and CC Land
- Address: Nine Elms Lane, Nine Elms, London SW8 5EL
- Completion: Buildings No. 8 and No. 9 are finished, ready to move in
R&F Properties is the UK arm of one of China’s largest developers, while CC Land is known in London as the owner of The Leadenhall Building (the Cheesegrater). Their partnership brings the scheme capital at London scale and a long delivery programme.
Why One Thames City?
Nine Elms is London’s largest regeneration area of the past twenty years. The move of the US Embassy turned the district into a diplomatic centre, while Battersea Power Station built the retail and workplace side of it. One Thames City sits between those two poles, directly on the river frontage.
- Vauxhall station about 0.55 km: Victoria Line, national rail and the bus interchange
- Nine Elms Underground station (Northern Line) within walking distance
- Battersea Power Station about 0.93 km
- Westminster and Victoria a few minutes away
- The City and Canary Wharf along the river on the Thames Clipper
Communal areas and specification
- A 30-metre swimming pool
- Sky Lounge on the 39th floor
- Private cinema room
- Fully equipped gym and wellness centre
- Business centre and the residents’ 1947 Club
- 24-hour concierge
Tenant profile
The local tenant pool comes from three sources: the embassy and the institutions around it, the offices in Westminster and Victoria, and the professionals working in the City across the river. Being finished matters here: rental income can start within the first months after completion, with none of the waiting that comes with an off plan purchase.
We take a realistic rent expectation from current rental listings in the same area, not from a brochure; the figures by city and borough are on our cities with the highest rental yields page.
Total cost: what do you really pay when you buy at One Thames City?
The table below is indicative, worked on the £997,500 entry price for a buyer who is not resident in the United Kingdom. The additional dwelling surcharge counts any home worth more than £40,000 anywhere in the world, including your home in Turkey.
| Item | If it will be your only home | If it will be an additional home |
|---|---|---|
| Property price | £997,500 | £997,500 |
| Stamp duty (SDLT), non-resident buyer | £63,500 | £113,300 |
| Legal fees | £1,500 to £3,000 | £1,500 to £3,000 |
| Searches and Land Registry fees | about £800 | about £800 |
| Approximate total | £1,064,800 | £1,114,600 |
With a mortgage there are valuation and bank charges, and if you let the property, management commission and income tax. For your own scenario, use our purchase cost calculator, for stamp duty our stamp duty calculator and for rental income our rental income tax calculator .
Risks and what to watch for
- A large number of homes were delivered in Nine Elms in the same period; that supply can put periodic pressure on rents.
- The scheme is being delivered in phases. The building you buy in may be finished while neighbouring buildings are still on site; views and noise are affected by that.
- The service charge is high in schemes with a wide amenity package; ask for the annual figure in writing before you take an offer.
- Floor, aspect and river view change the price markedly; two apartments of the same size can differ considerably.
How does One Thames City compare with the alternatives?
- One Nine Elms: the same area, upper segment with the Park Hyatt brand.
- Embassy Gardens: the neighbouring scheme known for its Sky Pool.
- DAMAC Tower: a Versace designed alternative in Nine Elms.
We can work out together which project fits your goal, judged on budget, intended use and exit plan. We can also narrow the riverside schemes in and around Zone 1 to your budget.
Answers to the most common questions on this topic: Is Buying a Home in London a Good Idea?
