South Quay Plaza, Canary Wharf: signed by Berkeley and Foster + Partners
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Hello everyone. Would you like to drink your coffee on the 56th floor of Canary Wharf, in a bar looking out over the city? Today, Berkeley’s flagship scheme, South Quay Plaza is what we are looking at today!
For prices, taxes and the whole buying process, see our guide: UK Property Guide
The design is again by Foster + Partners. There are 2.6 acres of private gardens surrounding the tower: in a district as dense as Canary Wharf that is almost unheard of. Most of the apartments are dual aspect, so you get the sun both morning and evening. And yes, you read that correctly: on the 56th floor there is a bar and terrace for residents only.
Prices
- One bedroom apartments: £772,000and up
- two and three bedroom options available
- Apartment sizes: 56 m², 120 m²
- Developer: Berkeley Group, mimari Foster + Partners
- Address: Hampton Tower, 75 Marsh Wall, Canary Wharf, London E14 9SH
Berkeley One of the most established and most trusted developers in England; its quality standard and delivery discipline are treated as a benchmark in the sector. In other words, the worry of "will the scheme be left half finished" does not arise here. the advantages of buying a new build home with a strong developer behind it.
Why South Quay Plaza?
Transport: three separate lines, all within a 5 minute walk: there are very few locations in London this well connected.
- South Quay DLR, a 5 minute walk
- Canary Wharf tube (Jubilee Line), a 5 minute walk
- Elizabeth Line, at the same distance; Liverpool Street 6 minutes, Bond Street 13 minutes, Heathrow about 40 minutes
- On the Jubilee Line, Waterloo 12 minutes and London Bridge 8 minutes
- A river route to the centre on the Thames Clippers river bus
2.6 acres of private garden: Foster + Partners positioned the tower so that the gardens take the maximum amount of sun. For families and dog owners who need to escape the density of concrete in Canary Wharf, that is a serious difference. It is also a distinguishing feature on resale in the long run.
Daily life: the office 5 minutes away, the centre 12
Leave the house at 8:45, be in your office in Canary Wharf at 8:52. The building’s gym or the 20 metre pool at lunchtime. On the way home in the evening, the shopping centres and restaurants of Canary Wharf and the Crossrail Place Roof Garden are on your route. At the weekend Greenwich is across the river, and the West End is 13 minutes away on the Elizabeth Line.
South Quay Plaza rental yield
Canary Wharf is the district with the steadiest rental demand in London. One bedroom apartments usually let for £2,900 to £3,600, 2+1s £3,200 to £4,000 a month. That puts the gross rental yield in the 4.5-5.6% band, which is rather good for this price range and location.
Tenant profile: bankers, consultants and technology specialists. They generally rent on a company budget, stay a long time and pay regularly. The Berkeley name and the Quay Club amenities create extra demand in this group. If you are after a higher return, high yield buy to let areas is worth reading.
Ortak Alanlar, The Quay Club
The shared areas of South Quay Plaza are gathered under the name "The Quay Club" and have an award winning design. They offer living at a five star hotel standard:
- A 20 metre swimming pool: an indoor pool overlooking South Dock, with natural light.
- 56. Katta Bar & Teras: for residents only; one of the highest residential shared spaces in London, with a panoramic city view.
- Son Teknoloji Spor Salonu: a fully equipped gym you can use without paying a membership.
- Screening room: a cinema room for residents only.
- Private dining room: a private dining area you can book for larger gatherings.
- Meeting room: for people working from home and holding business meetings.
- 2.6 acres of landscaped gardens: green space surrounding the tower, open to residents.
- 24-hour concierge: parcels, security and welcoming guests.
Energy efficiency and comfort
Berkeley standard high performance facade, modern insulation and central systems; the apartments are typically EPC B band. The dual aspect layout is also an advantage for natural ventilation and daylight. If you let the property you are buying an apartment ready for the future against the tightening energy standards in the United Kingdom.
Who is buying?
Mostly finance and technology professionals aged 30 to 50, corporate investors who trust the Berkeley name, and international buyers. One bedroom apartments are bought for investment; two and three bedroom layouts are favoured by families working in Canary Wharf. The gardens are an important reason for families to choose it.
Frequently asked questions
What is the tenure? Leasehold: Berkeley schemes typically grant 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. Berkeley schemes are regarded by lenders as high quality security. UK mortgages for foreign nationals is worth reading.
What is the tax cost? For buyers resident outside the United Kingdom, stamp duty carries a 2% surcharge applies. our stamp duty article is worth a look.
How much is the service charge? On a scheme with a pool, a 56th floor bar, a screening room and a concierge the service charge is in the band of £8 to £12 per square metre a year. Do put it in the budget when working out the net yield.
Hangi kule daha iyi? There is more than one tower in the scheme and the price changes considerably with the view, the floor and the direction of the aspect. We can work out together which aspect makes more sense for your budget.
A Foster + Partners design, the assurance of Berkeley, 2.6 acres of garden, a 20 metre pool and a bar on the 56th floor. There is no other scheme in Canary Wharf offering this package. For the apartments currently available, our project page.
For a detailed price list, floor plans or an appointment, reach us on the WhatsApp button in the left corner of the screen.
Total cost: what you actually pay when you buy at South Quay Plaza
Many overseas buyers look only at the apartment price and meet a surprise at completion. Let us work out the real cost on a £772,000 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 | £772,000 | £772,000 |
| Stamp duty (SDLT) | £44,040 | £82,640 |
| Legal fees | £1,500 to £3,000 | £1,500 to £3,000 |
| Searches and Land Registry fees | about £800 | about £800 |
| Approximate total | £818,340 | £858,440 |
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 £772,000 entry price; we prepare the exact calculation for your own scenario.
The South Quay Plaza 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 South Quay Plaza, these are the ones worth pausing on:
- Projede birden fazla kule var: the price and the resale value change considerably with the view, the floor and the direction of the aspect.
- High service charge, the cost of amenities such as the 20 metre pool, the 56th floor bar and the screening room is reflected in it.
- Supply is heavy in Canary Wharf: a large number of new apartments reach the rental market at the same time; the risk of standing empty can vary with the aspect.
- Phased handover: some phases are still being completed; the phase you buy determines your handover date.
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 South Quay Plaza compare with the alternatives?
Before you decide, it is worth looking at the other projects in the same budget band:
- One Thames Quay: a 48 storey alternative on the same street, with a river view from every apartment.
- Battersea Power Station: a riverside setting in Zone 1 and a neighbourhood that has already settled.
- Royal Gateway: for anyone after a more affordable budget and a higher rental yield.
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: Which UK Cities Have the Highest Rental Yields?
