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city quay lettings INSIGHTKnight 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 activityLast 3 months, year-on-year change
Change in rents, last 3 months
7.3%
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Tenancies agreed
New property available
11%
9%
City Quay ApartmentsSt Katherine Dock
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.
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
knight frank wapping
city quay 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: £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
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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