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  • knight frank wapping

    city quay lettings INSIGHT Knight Frank

    There has been a dock on the site of St Katherine since 1125, and nearly 900 years

    on the area is more popular than ever. Since reopening as a marina following the

    closure of the commercial docks in the late 1960s, the area has built up a good

    reputation offering some of the most sought after property in the Capital. The City

    Quay development offers the most desirable and luxurious apartments in the area.

    The modern day St Katherine Dock combines the distinctive character of the buildings from its

    heyday as an important commercial site, with the amenities and convenience of a prime

    London residential area. The unrivalled riverside location, with views towards the iconic Tower

    of London and Tower Bridge, creates an offering that is difficult to match.

    City Quay Apartments is St Katherine Dock’s jewel in the crown; developed 12 years ago by

    Taylor Woodrow Capital Developments and John Roberson Architects, and often credited with

    increasing revenues in the neighbourhood and allowing for the creation of new businesses

    and residences.

    The City Quay development is hugely popular, not only for the convenient location near to The

    City, but for its fantastic views and luxury living. The development is gated and has a 24 hour

    concierge service. It is also conveniently positioned next to Waitrose supermarket and a short

    walk to Tower Hill underground station. For City workers, City Quay is the number one

    favourite residential development in the area.

    How do you think the market will fare in the coming months?

    I believe we will continue to see steady growth in rents, driven by lack of stock. Asian

    investors are buying large tranches of off-plan stock, but much of this has not yet hit the

    market. Financing issues for buy-to-let landlords means we will not see dramatic rises in stock

    levels until mid next year. Many people are choosing to rent as sales stock is limited and

    funding is still difficult.

    Why use Knight Frank?

    The Knight Frank brand attracts the best tenants in the market and our level of service is

    unparalleled in the lettings industry - we can offer assistance with everything from

    refurbishment, furnishing, letting and managing your property. We also have an in-house

    corporate services department. We have exclusive contracts with a number of large

    companies who will only search for relocating staff through Knight Frank. This means we are

    approached before other agents with the very best applicants in the corporate market.

    Figure 1

    What do our applicants want to spend? New applicants, last 12 months

    Figure 2

    What is coming to the market? New instructions, last 12 months

    Wapping lettings market at a glance

    Figure 1

    Market activity Last 3 months, year-on-year change

    Change in rents, last 3 months

    7.3%

    Page 1 of 2

    Tenancies agreed

    New property available

    11%

    9%

    City Quay Apartments St Katherine Dock

    www.KnightFrank.co.uk Because we know that 80% of

    applicants come through website

    advertising, we work hard to make

    our website the best possible place

    to advertise your property.

    We have been awarded 5 stars from

    the goodwebguide.co.uk, voted the

    best real estate website in the world

    and attracted visitors from 189

    countries in the past 12 months. Our

    pioneering app for iPhone has been

    downloaded more than 23,000

    times.

    All this helps us to attract over half a

    million visits per month, and to

    market your property to the widest

    possible audience.

    19%

    0%

    13%

    30%

    24% 13%

    Under £200 £200 to £300 £300 to £400

    £400 to £500 £500 to £600 over £600

    30%

    6% 2%

    18% 21%

    23%

    Under £200 £200 to £300 £300 to £400

    £400 to £500 £500 to £600 over £600

    http://www.knightfrank.co.uk

  • knight frank wapping

    city quay lettings INSIGHT Knight Frank

    Charting the market

    Figure 4

    Nationality of Knight Frank tenants Prime Lettings, last 12 months

    Figure 5

    Prime residential rents, indexed Quarterly, last 5 years (Dec 2005 = 100)

    Figure 6

    Prime London residential gross yields Quarterly, last 5 years

    90

    100

    110

    120

    130

    140

    De c-

    05

    Ju n-

    06

    De c-

    06

    Ju n-

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    De c-

    07

    Ju n-

    08

    De c-

    08

    Ju n-

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    De c-

    09

    Ju n-

    10

    De c-

    10

    Prime Central London

    Prime Outer London

    Prime Surrey

    0%

    1%

    2%

    3%

    4%

    5%

    6%

    De c-

    05

    Ju n-

    06

    De c-

    06

    Ju n-

    07

    De c-

    07

    Ju n-

    08

    De c-

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    Ju n-

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    Ju n-

    10

    De c-

    10

    World region

    Africa

    Asia

    Australasia

    Europe

    India

    Middle East

    North America

    Russia & CIS

    South America

    UK

    Tenants

    2.0%

    4.9%

    3.6%

    26.5%

    1.4%

    2.9%

    10.7%

    2.1%

    0.6%

    45.3%

    Asking rent: £775pw

    Shearwater Court

    Let

    City Quay

    2 bed

    Asking rent: £725pw

    Cormorant Lodge

    Let

    City Quay

    2 bed

    Asking rent: £525pw

    Jacana Court

    Let

    City Quay

    1 bed

    Asking rent: £750pw

    Sandpiper Court

    Let

    City Quay

    2 bed

    Asking rent: £750pw

    Cormorant Lodge

    Let

    City Quay

    2 bed

    Asking rent: £575pw

    Shearwater Court

    Let

    City Quay

    1 bed

    Wapping properties and the Knight Frank team

    Gary Hall

    Partner, Head of Wapping & City Lettings

    Rahna Stroud

    Senior Negotiator

    Rebecca Wood

    Negotiator

    Mark Batty

    Negotiator

    Knight Frank Wapping Lettings

    020 7480 6848

    Wappinglettings@knightfrank.com

    35a Wapping High Street,

    London, E1W 1NR

    KnightFrank.co.uk/Lettings

    If you have any queries or would like to obtain additional information on the UK or international housing markets please contact: Liam Bailey, Head of Residential Research, +44 (0)20 7861 5133, liam.bailey@knightfrank.com

    © Knight Frank LLP 2009 - This report is published for general information only. Although high standards have been used in the preparation of the information, analysis, views and projections presented in this report, no legal

    responsibility can be accepted by Knight Frank Residential Research or Knight Frank LLP for any loss or damage resultant from the contents of this document. As a general report, this material does not necessarily represent the

    view of Knight Frank LLP in relation to particular properties or projects. Reproduction of this report in whole or in part is allowed with proper reference to Knight Frank Residential Research. Knight Frank LLP is a limited liability

    partnership registered in England with registered number OC305934. Registered office: 55 Baker Street, London, W1U 8AN

    Page 2 of 2

    http://www.knightfrank.co.uk