Demand for homes in London’s tallest residential tower set to peak11 February 2016
Who doesn’t dream of discovering a long-lost Old Master or priceless diamond hidden in their home?
That cash in the attic dream has become reality for London. In the early years of the 21st century, private developers and local authorities joined forces to rediscover one of central London’s forgotten gems – the South Bank of the River Thames.
Nine Elms, 227 hectares of former industrial land between Vauxhall and Battersea, is currently undergoing transformation on a huge scale.
Leading architects such as Sir Norman Forster are behind the creation of luxury residential towers for the 21st century offering amenities such as underground parking, secure entry systems, private gyms, high-rise swimming pools, residents’ cinemas and business centres, plus roof gardens offering spectacular views of London’s iconic skyline.
When complete by 2020, Nine Elms will be home to the US and Dutch embassies plus about 140,000 square metres of retail space, over 230,000 square metres of office space and a collection of high-class restaurants and leisure attractions, while a linear park will run right through the area from east to west, making it one of the greenest districts on the South Bank.
Two new Tube stations are also under construction connecting Nine Elms to the 3km extension to the Northern Line. This level of investment promises to deliver significant long-term benefits, not just in terms of property values but also in demand for rental properties within easy reach of both central London and the new diplomatic quarter.
One of the developments attracting most attention is One Nine Elms – twin skyscrapers under construction in Vauxhall that will contain 487 luxury homes serviced by a five-star hotel.
When complete in 2018, One Nine Elms will be one of the tallest residential skyscrapers in London.
Designed by international firm Kohn Pedersen Fox, which counts the award-winning Shanghai World Financial Center and the 660m Ping An Finance Centre in Shenzhen, China, among its previous projects, the 200m City Tower will contain 58 floors, while the 161m River Tower will include the state-of-the-art Wanda Vista hotel.
Residents will have access to a 24-hour concierge, a gym, the 50th floor residents’ sky lounge and terrace plus a karaoke room.
At 42 storeys high, the River Tower will offer premium apartments on the upper floors, with an exclusive residents lounge located on the 19th floor.
The interiors of the apartments in both towers promise to be as luxurious as the facilities on offer. One Nine Elms is Chinese developer Dalian Wanda Group’s first entry into the UK market, but it has an enviable international reputation thanks to its portfolio of shopping malls, cinemas, entertainment brands and commercial and residential property.
The first residents of One Nine Elms will not only benefit from energy-efficient climate control systems, high-tech lighting and top-of-the-range-appliances, well-established road, rail and tube links to central London and the capital’s major airports will be on their ultra-secure doorstep.
The development is next to Vauxhall’s transport interchange and on a site once occupied by Market Towers, a 1970s office building that was demolished in 2014 to usher in a new era of high-rise luxury.
There has been a surge of building along the south bank around Vauxhall and the area is heading upmarket fast. It is becoming gentrified and owners of buildings are looking to maximise their potential.
National Rail comments: “Vauxhall is changing and as a major landowner in the area we are certainly moving with that. We’re experiencing massive demand for our spaces and when they come up for rent we look what we can do to provide better facilities. Arches that used to be storage space are increasingly being converted for uses that bring life to the area.”
Garton Jones has a limited number of high-spec apartments for sale in both River Tower and City Tower. For further details of the properties, including three-bedroom units, contact Garton Jones on 02038 116 332 or fill in the form below.