TwelveTrees Park West Ham: Prices Beside a Station on Five Lines

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Hello everyone. A scheme from whose single station you can board five separate transport lines. Today, TwelveTrees Park is what we are looking at today!

For prices, taxes and the whole buying process, see our guide: UK Property Guide

A large scale scheme in Newham, east London, brought about by the thorough regeneration of former industrial land. The real point, though, is the location: West Ham istasyonu within walking distance, and at that station the Jubilee Line, the District Line, the Hammersmith & City Line, the DLR and national rail come together. There are very few places in London where this many lines meet at one point. A 24 hour concierge, a gym, a residents’ lounge and work spaces come on top. Yes, you read that correctly: five lines, one station.

Prices

• One bedroom apartments: £495,000and up
• one, two and three bedroom options
• Apartment size: 55 m²and up
• Handed over in stages, with completed and ongoing phases
• Address: TwelveTrees Park, Mill Meads, West Ham, Newham, London E16

The scheme has both completed and ongoing phases, which gives the buyer flexibility. A finished apartment for anyone wanting to move in or let straight away, an off plan option for anyone wanting to spread the payments. the advantages of buying a new build home You can live under either model.

Why TwelveTrees Park?

Transport: one of London’s strongest interchanges: the first thing a tenant looks at when choosing an apartment is transport, and this scheme passes that test comfortably.

• West Ham station, within walking distance; the Jubilee, District, Hammersmith & City, DLR and national rail
• on the Jubilee Line Canary Wharf’a 6 dakika, London Bridge’e 12 dakika, 20 minutes to Bond Street
• Stratford and the Westfield shopping centre a few minutes away
• DLR links to City Airport and Royal Docks
• The Queen Elizabeth Olympic Park close by

East London’s regeneration continues, since the 2012 Olympics, Stratford and its surroundings have been the fastest changing part of London. Newham is still inside that wave; new offices, university campuses and retail investment keep arriving.

Daily life: six minutes to Canary Wharf

Leave the house at 8:45, board the Jubilee Line at West Ham, be at your desk in Canary Wharf at 8:55. Lunchtime in the building’s gym or work space. On the way home in the evening, the cafes and shops within the scheme, or Westfield in Stratford. At the weekend a run in the Olympic Park and a short DLR trip to Greenwich.

TwelveTrees Park rental yield

The strength of the transport and a sensible entry price produce a good yield. One bedroom apartments usually let for £2,000 to £2,300, 2+1s £2,550 to £3,000 a month. That puts the gross rental yield in the 4.8-5.6% band.

Tenant profile: young professionals working in Canary Wharf and the City, people in the technology and media sectors around Stratford, university staff. A five line station is the strongest headline a rental listing can carry, and you will not struggle to find a tenant in this area. For areas with a similar profile, high yield buy to let areas is worth a look.

The shared areas and the details that set TwelveTrees Park apart

• 24-hour concierge: parcels, security and welcoming guests, a real privilege in this price band.
• Residents' gym: a fully equipped gym you can use without paying a membership.
• Residents’ Lounge: a shared living space for entertaining and socialising.
• Work spaces: quiet co-working areas designed for people working from home.
• Landscaped communal gardens: green space between the blocks, for residents only.
• Children’s play areas and footpaths: designed with families in mind.
• Cafes, restaurants and shops: within the scheme; everything you need within walking distance.
• Balcony or terrace in most apartments: large glazed facades and quality interior specification as standard.

Energy efficiency and comfort

As a new build it comes with modern insulation, a high performance glazed facade and efficient heating; the apartments are typically EPC B band. Against the older stock in Newham 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 people who work at Canary Wharf but do not want to pay its prices favourite. A six minute journey to work, a £495,000 entry price and a concierge concept make a strong combination. Professionals aged 25 to 45 buy for their own use, investors buy to let. The multicultural character of this part of east London also makes the area familiar to international buyers.

Frequently asked questions

What is the West Ham area like? The area is in transition and the neighbourhood fabric is not as settled as central London. The transport infrastructure, though, is extraordinarily strong and Stratford’s regeneration is pulling the area up. It makes sense for an investor taking a long view.

Should I buy completed or off plan? The completed phases if you want to let straight away; the ongoing phases if you want to lock in a price and spread the payments. We decide together according to your goal.

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.

How much is the service charge? Mid range for schemes that include a concierge, a gym and a lounge; the absence of a pool keeps the cost contained. We obtain the current figure apartment by apartment.

Total cost: what you actually pay when you buy at TwelveTrees Park

Many overseas buyers look only at the apartment price and meet a surprise at completion. Let us work out the real cost on a £495,000 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 £495,000 entry price; we prepare the exact calculation for your own scenario.

The TwelveTrees Park 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 TwelveTrees Park, these are the ones worth pausing on:

• The area is in transition: West Ham’s neighbourhood fabric is not as settled as central London; it calls for a long view.
• Very large, phased project: handed over in stages; there will be construction around for a long time.
• Heavy new supply in east London: a great many schemes are being handed over in and around Stratford; there is competition to let.
• Yield in the mid band: gross 4.5-5%, so not for anyone after Eastman Village or Manchester level yields.

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 TwelveTrees Park compare with the alternatives?

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

• Hoola Royal Docks: a more affordable entry price and a higher yield in a nearby district.
• Royal Arsenal Riverside: an amenity package by the river including a pool and spa.
• Bermondsey Heights: for anyone wanting five minutes to London Bridge from Zone 2.

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?