KNight frank wapping new crane wharf lettings INSIGHTKNight frank wapping new crane wharf lettings...
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KNight frank wapping new crane wharf lettings INSIGHT Knight Frank New Crane Wharf is considered one of the most popular and charming apartment blocks in Wapping. Part of its charm is down to the retention of many original features of the Victorian Warehouse it once was, such as; original exposed brickwork, wooden beams and iron pillars. Also with its location directly on the river and equidistance from Canary Wharf and The City it makes New Crane Wharf highly sought after for many working professionals looking to live in a prestigious area near to their work place. During the 1970’s and 80’s New Crane Wharf was home to many artists studios. Rumour has it that a group of artists approached the then owners Capital and Country to buy the run down semi-derelict Warehouse and were offered to purchase it for £1 Million. However, the artists were unable to raise sufficient funds. So lucky enough for the current residents of the Wharf it was sold to developers in the mid 80’s who converted New Crane into a luxury housing development with 143 apartments. Apartments range from studios, one and two bedroom apartments and a small number of 3 bedroom apartments. The apartments are spacious and many have direct river views, they are well known to have good storage and have the added benefit of a 24 hour concierge service and secure underground parking. New Crane Wharf is at the top of many applicants' list for such reasons. The profile of Tenants renting through Knight Frank tend to be professionals working in the City and Canary Wharf with a high proportion in the financial sector. There is also a substantial proportion of European applicants being relocated to their London offices. Our Corporate Service department has reported a rise in the number of applicants on relocation packages with the main requirement being that the apartment should be within walking distance to the office. We have found that a large number of employees being relocated look for one and two bedroom apartments between £300- £500pw. 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% 19% 0% 13% 30% 24% 13% Under £200 £200 to £300 £300 to £400 £400 to £500 £500 to £600 over £600 Page 1 of 2 New property available 9% 30% 6% 2% 18% 21% 23% Under £200 £200 to £300 £300 to £400 £400 to £500 £500 to £600 over £600 Tenancies agreed 11% New Crane Wharf, Wapping 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.
Transcript of KNight frank wapping new crane wharf lettings INSIGHTKNight frank wapping new crane wharf lettings...
KNight frank wapping
new crane wharf lettings INSIGHTKnight Frank
New Crane Wharf is considered one of the most popular and charming apartment blocks
in Wapping. Part of its charm is down to the retention of many original features of the
Victorian Warehouse it once was, such as; original exposed brickwork, wooden beams and
iron pillars. Also with its location directly on the river and equidistance from Canary Wharf
and The City it makes New Crane Wharf highly sought after for many working professionals
looking to live in a prestigious area near to their work place.
During the 1970’s and 80’s New Crane Wharf was home to many artists studios. Rumour
has it that a group of artists approached the then owners Capital and Country to buy the
run down semi-derelict Warehouse and were offered to purchase it for £1 Million. However,
the artists were unable to raise sufficient funds. So lucky enough for the current residents
of the Wharf it was sold to developers in the mid 80’s who converted New Crane into a
luxury housing development with 143 apartments.
Apartments range from studios, one and two bedroom apartments and a small number of 3
bedroom apartments. The apartments are spacious and many have direct river views, they
are well known to have good storage and have the added benefit of a 24 hour concierge
service and secure underground parking. New Crane Wharf is at the top of many applicants'
list for such reasons.
The profile of Tenants renting through Knight Frank tend to be professionals working in the
City and Canary Wharf with a high proportion in the financial sector. There is also a
substantial proportion of European applicants being relocated to their London offices. Our
Corporate Service department has reported a rise in the number of applicants on relocation
packages with the main requirement being that the apartment should be within walking
distance to the office. We have found that a large number of employees being relocated
look for one and two bedroom apartments between £300- £500pw.
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 activityLast 3 months, year-on-year change
Change in rents, last 3 months
7.3%
19%
0%
13%
30%
24%13%
Under £200 £200 to £300 £300 to£400
£400 to £500 £500 to £600 over £600
Page 1 of 2
New property available
9%
30%
6%2%
18%21%
23%
Under £200 £200 to £300 £300 to £400
£400 to £500 £500 to £600 over £600
Tenancies agreed 11%
New Crane Wharf, Wapping
www.KnightFrank.co.ukBecause 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.
KNight frank wapping
new crane wharf lettings INSIGHTKnight Frank
Charting the market
Figure 4
Nationality of Knight Frank tenantsPrime Lettings, last 12 months
Figure 5
Prime residential rents, indexedQuarterly, last 5 years (Dec 2005 = 100)
Figure 6
Prime London residential gross yieldsQuarterly, last 5 years
90
100
110
120
130
140
Dec-05
Jun-0
6
Dec-06
Jun-0
7
Dec-07
Jun-0
8
Dec-08
Jun-0
9
Dec-09
Jun-10
Dec-10
Prime Central London
Prime Outer London
Prime Surrey
0%
1%
2%
3%
4%
5%
6%
Dec-05
Jun-0
6
Dec-06
Jun-0
7
Dec-07
Jun-0
8
Dec-08
Jun-0
9
Dec-09
Jun-1
0
Dec-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: £575pw
Two bedroom with roof terrace
Let
New Crane Wharf
2 bed
Asking rent: £350pw
Smart one bed
Let
New Crane Wharf
1 bed
Asking rent: £470pw
One bedroom on the river
Let
New Crane Wharf
1 bed
Asking rent: £650pw
Two bedroom on the river
Let
New Crane Wharf
2 bed
Asking rent: £365pw
One bedroom on top floor
Let
New Crane Wharf
1 bed
Asking rent: £625pw
Three double bedroom apartment
Let
New Crane Wharf
3 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
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, [email protected]
© 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
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