MARKET REFLECTIONS – TELFORD HOMES’ HORIZONS, CANARY WHARF
Sales results from Telford Homes supports the most recent (19/9/13) data from the Council of Mortgage Lenders, which highlighted that gross mortgage lending, an estimated £16.6 billion, is 28% higher than August last year (£13 billion).
The broad-based recovery in mortgage lending activity is a key indicator of the health of the residential property sector and sales results at Telford Homes’ Horizons, a 26-storey luxury development located on Yabsley Street E14, reflects this data.
The development of 131 one, two and three-bedroom apartments is now over 80% sold, with much demand for the second phase which launches on 24th October.
Both investors and owner occupiers are buying at Horizons, which is located adjacent to Canary Wharf, one of the main financial hubs in the UK. They have been attracted not only by the location, but by the quality of the homes and the views of the River Thames, Canary Wharf, the City and beyond.
Prices start from £500,000 for a two bed apartment, to around £1.5 million for a fantastic penthouse on the 24th/25th floors with substantial private roof terraces, with first completions expected in winter 2016.
David Campbell, Group Sales and Marketing Director at Telford Homes, comments:
“The interest at Horizons has far surpassed our expectations with discerning purchasers seeking stylish apartments in close proximity to one of London’s main financial hubs. The capital growth in this area has risen dramatically with the transformation of Canary Wharf and will continue to do so as the area continues with its ambitious plans for further regeneration to accommodate the forecast doubling in size over the next 10 years and its development to become London’s key financial and leisure district.”