Royal Arsenal Riverside Woolwich: Prices and Yields in a Project with a Pool

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Hello everyone. Living on the bank of the Thames, in a historic military arsenal with its own Elizabeth Line station, £435,000and up. Today Royal Arsenal Riverside 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 prestigious scheme in Woolwich, south east London, brought to life by the transformation of the historic Royal Arsenal site. Its story is a particular one: for centuries this was the centre of Britain’s weapons and ammunition production. Today restored historic buildings and modern architecture stand side by side. And the amenities: a swimming pool, a spa, a cinema room, a private residents’ club and a 24 hour concierge. Yes, you read that correctly: a scheme with a pool and a spa at this price.

Prices

• One bedroom apartments: £435,000and up
• one, two and three bedroom options
• Apartment size: 43 m²and up
• Handed over in stages, with completed and ongoing phases
• Address: Duke of Wellington Avenue, Royal Arsenal, Woolwich, London SE18

In our portfolio this project is the best balance of amenities and price. To find the package of a pool, a spa, a cinema and a concierge in Zone 1 you would have to go above £800,000; here you enter from £435,000. the advantages of buying a new build home a strong option for anyone who wants to combine it with hotel comfort.

Why Royal Arsenal Riverside?

The district the Elizabeth Line transformed: Woolwich reached a completely different position after the Elizabeth Line opened. Canary Wharf is now 8 to 10 minutes away and the City a quarter of an hour. That leap in transport carried local prices up and the process is not complete yet.

• Woolwich Arsenal: a DLR and national rail station, within walking distance
• Woolwich an Elizabeth Line station within walking distance
• on the Elizabeth Line Canary Wharf’a 8-10 dakika, 16 minutes to Liverpool Street, 24 minutes to Bond Street
• Thames Clippers river bus pier within the scheme, to the centre by river
• City Airport and Greenwich a few minutes away

A riverside setting and a historic fabric: the scheme is directly on the bank of the Thames, with riverside walking routes, restored military buildings and landscaped gardens. Riverside housing in London has always carried a premium, and here you buy it at a Zone 4 price.

Daily life: going to work from the river

In the morning Canary Wharf in 8 minutes on the Elizabeth Line; or, if you prefer, to the centre by river on the Thames Clippers. A swim in the pool or the spa at lunchtime. A walk by the river in the evening, and the restaurants and cafes within the scheme. At the weekend the historic fabric of Greenwich, the O2 Arena and the renewed centre of Woolwich. Living among historic arsenal buildings is an atmosphere a standard new build scheme cannot offer.

Royal Arsenal Riverside rental yield

The Elizabeth Line link and a sensible entry price produce a good return. One bedroom apartments usually let for £1,850 to £2,100, 2+1s £2,200 to £2,700 a month. That puts the gross rental yield in the 5-5.5% band.

Tenant profile: young professionals working in Canary Wharf and the City, and hospital and university staff around Greenwich and Woolwich. Amenities such as a pool, a spa and a cinema create an extra premium with upper segment tenants, and very few schemes in this area offer that package. For areas with a similar profile, high yield buy to let areas is worth a look.

The shared areas and the details that set Royal Arsenal Riverside apart

• Swimming pool: an indoor pool for residents only; rare in London in this price band.
• Fitness and spa areas: a fully equipped gym and wet areas.
• Cinema room: a screening room set aside for residents.
• A private residents’ club: shared living and socialising space in a hotel concept.
• 24-hour concierge: parcels, security and welcoming guests.
• Riverside walkways: along the Thames, within the scheme.
• Landscaped gardens: among the restored historic buildings.
• Cafes, restaurants and shops: within the scheme; daily needs within walking distance.

Energy efficiency and comfort

The new build apartments are fitted with modern insulation, large windows and efficient central systems; typically in the EPC B band. In the homes within the restored historic buildings the performance can differ, and for a particular apartment always ask for the EPC certificate, we check that on your behalf.

Who is buying?

This project those wanting the amenity package without a Zone 1 budget choice. Finding the combination of a pool, a spa and a cinema at this price is hard. Professionals aged 30 to 50, employees who want fast access to Canary Wharf on the Elizabeth Line, and investors looking for riverside living. The historic fabric draws a different set of buyers from standard new build schemes.

Frequently asked questions

What is the Woolwich area like? Woolwich is one of the London districts that has changed most since the Elizabeth Line. Royal Arsenal itself is a secure, enclosed setting; the surrounding neighbourhood fabric is still changing. It is worth deciding with that distinction in mind.

Is 43 m² not very small? This is the scale of the most liquid apartment type for investment purposes. If you are buying for your own use we would suggest looking at layouts above 55 m².

An apartment in a historic building or in a new block? The historic buildings offer character and high ceilings; the new blocks better energy performance and modern fittings. We explain the difference between the two apartment by apartment.

What is the tenure? Leasehold; on newly sold apartments a lease of typically up to 999 years is granted; in historic building conversions the term can vary, and we check it.

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

How much is the service charge? On schemes with a pool, a spa, a cinema and a concierge the service charge is above the London average. Do ask for this item when working out the net yield; we obtain the current figure for each apartment.

Total cost: what you actually pay when you buy at Royal Arsenal Riverside

Many overseas buyers look only at the apartment price and meet a surprise at completion. Let us work out the real cost on a £435,000 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 £435,000 entry price; we prepare the exact calculation for your own scenario.

The Royal Arsenal Riverside 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 Royal Arsenal Riverside, these are the ones worth pausing on:

• Woolwich is still changing: the inside of Royal Arsenal is a secure, enclosed setting but the surrounding neighbourhood fabric has not settled.
• High service charge: a pool, a spa, a cinema and a concierge are costly amenities; ask for the figure at the outset.
• Energy performance in the historic buildings can be lower: in restored homes the EPC rating can fall behind the new blocks; always ask for the certificate.
• The 43 m² layouts are compact: liquid as an investment but it may feel tight for your own use.

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 Royal Arsenal Riverside compare with the alternatives?

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

• Lombard Square: a lower entry price with Berkeley quality in the same borough.
• Hoola Royal Docks: the most affordable entry price and the highest return, across the river.
• TwelveTrees Park: for anyone wanting a five line station and six minutes to Canary Wharf.

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?