Woodberry Down: Prices for a Berkeley Project Beside the Reservoirs

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Hello everyone. Inside London, two large lakes and a wetland nature reserve, right at your door. Today, by Berkeley, Woodberry Down 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

In the Manor House part of Hackney, north London, Berkeley Group’s St George brand a huge regeneration scheme developed by. Thousands of modern apartments and a brand new neighbourhood are being built through the transformation of the old Woodberry Down estate. What makes the scheme unique, though, is the water: Woodberry Wetlands and East Reservoir, two large reservoirs, with walking and cycling routes around them. Yes, you read that correctly: in Zone 2, inside London, on the shore of a nature reserve.

Prices

• One bedroom apartments: £549,990and up
• one, two and three bedroom options
• Apartment size: 55 m²and up
• Thousands of homes, handed over in stages, the scheme running for years
• Address: Woodberry Grove, Seven Sisters Road, Hackney, London N4

Berkeley Group / St Georgeis the longest established developer in England and a reference name on large scale regeneration schemes. Woodberry Down has been handing over for a long time, which means the parks have grown, the cafes have opened and the community has settled. the advantages of buying a new build home in a matured neighbourhood, a rare combination.

Why Woodberry Down?

A location whose view is permanently protected: Woodberry Wetlands is a nature reserve. In other words, no building can ever go up on the water and greenery in front of you. There are very few schemes in London where the question "will my view be blocked?" has a definite answer, and that is a serious safeguard for long term value.

• Manor House metro station (Piccadilly Line), within walking distance
• on the Piccadilly Line King’s Cross 8 minutes, Covent Garden 15 dakika, direct to Heathrow
• Finsbury Park, a short distance away; Victoria Line and national rail links
• The lively neighbourhoods of Stoke Newington, Islington and Hackney close by
• Finsbury Park and Clissold Park a few minutes away

Hackney etkisi: over the past twenty years Hackney has been one of the boroughs of London to gain the most in value. Woodberry Down sits at the northern end of that borough and the regeneration is not complete, which means it is still a sensible time to come in.

Daily life: a morning run by the lake

A run around the reservoirs in the morning, then King’s Cross in 8 minutes on the Piccadilly Line. The cafes within the scheme at lunchtime. The restaurants of Stoke Newington Church Street or the music venues of Hackney in the evening. At the weekend birdwatching at Woodberry Wetlands, a picnic in Finsbury Park, shopping in Islington. One of the most balanced options in London for anyone who wants to live in the city without losing touch with nature.

Woodberry Down rental yield

A Zone 2 location and strong neighbourhood appeal produce a balanced yield. One bedroom apartments usually let for £2,000 to £2,400, 2+1s £2,500 to £2,850 a month. That puts the gross rental yield in the 4.4-5.2% band.

Tenant profile: young professionals working in central London, people in the creative sector, and the 25 to 40 age group who favour the cultural fabric of Hackney and Islington. Apartments with a water view let markedly faster to this group. For areas with a similar profile, high yield buy to let areas is worth a look.

The shared areas and the details that set Woodberry Down apart

• Woodberry Wetlands and East Reservoir: two large reservoirs; they hold nature reserve status and the view is permanently protected.
• Walking and cycling routes: around the reservoirs and within the scheme.
• Gyms: fitness facilities for residents only.
• Landscaped green space and parks: new public space created as part of the scheme.
• Children’s play areas: designed with families in mind.
• Cafes, restaurants and commercial units: no need to leave the neighbourhood for everyday needs.
• Residents’ social spaces: shared areas that support community life.
• Balcony or terrace in most apartments: integrated fitted kitchen and modern bathrooms as standard.

Energy efficiency and comfort

Berkeley standard insulation, high performance windows and efficient central systems; the apartments are typically EPC B band. Against Hackney’s Victorian building stock the difference in the annual bill is very 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 of those who want nature and the city together choice. Professionals aged 30 to 50, young families who love the cultural fabric of Hackney, and investors who trust the Berkeley name. Apartments with a water view are particularly sought after. The multicultural character of this part of north London also makes the district familiar to international buyers: Green Lanes and Harringay are a few minutes away.

Frequently asked questions

Does every apartment have a water view? No, it depends on the aspect and the floor. Apartments with a lake view stand apart markedly both to let and on resale, so the choice of aspect matters particularly here. We work out for you which blocks have the view.

When will the project finish? Woodberry Down has been handing over in stages for years and continues to do so. The earlier phases have settled and you can go and see them. In the newer phases there will be construction around for a while longer.

What is the tenure? Leasehold: Berkeley schemes typically grant a term of up to 999 years. On the older phases we have the term checked.

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.

How much is the service charge? Mid range on schemes that include a gym and extensive landscape maintenance; 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 Woodberry Down

Many overseas buyers look only at the apartment price and meet a surprise at completion. Let us work out the real cost on a £549,990 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 £549,990 entry price; we prepare the exact calculation for your own scenario.

The Woodberry Down 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 Woodberry Down, these are the ones worth pausing on:

• Not every apartment has a water view: it depends on the aspect and the floor; apartments with a view are clearly worth more, so the choice matters.
• A long running, phased scheme: thousands of homes are handed over across the years, and construction continues around the newer phases.
• The lease term may be shorter on the older phases: on phases handed over years ago, always have the lease term checked.
• 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 Woodberry Down compare with the alternatives?

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

• Regent's View: the same developer’s alternative on the canal in east London.
• Silkstream: a Berkeley St George scheme in north London at a more affordable entry price.
• Colindale Gardens, for anyone after nine acres of green space and an amenity package that includes a sauna.

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?