The River Thames is a living, breathing London landmark and properties that overlook this wonderful waterway have always been in high demand. What is apparent, however, is that the remaining waterside apartments for sale at Tavern Quay are some of the most affordable when it comes to securing the best views. If you’d like to know more, contact the sales team today.
A new report published by estate agent Cluttons looked at the premiums people were paying for a riverside view in the capital, compared with London properties that were classed as ‘inland’. Interestingly, a large part of the research revealed how much properties were being sold for just upstream from the new apartments at Tavern Quay.
The report revealed an average riverfront home overlooking Tower Bridge costs £1,285,000, compared to £667,500 for an inland home with all the same features but no river view. In Borough, there was a 93% premium for a waterside home and two miles from Tavern Quay in Shad Thames, the average river view home sits at £1.45 million – 89% more than a non-waterfront home at £767,000. It’s a similar story on the South Bank, where buyers will pay £1,367,000 – an 85% premium to glimpse the Thames.
“Views of the River Thames are nothing short of spellbinding,” comments Karolina Dziwiszek at Tavern Quay. “It is apparent, however, that with some research, buyers don’t have to pay a premium to secure a Thameside residence. The last apartments for sale at Tavern Quay offer exceptional value-for-money given their waterside setting – the views from the development up and down stream, and across to Canary Wharf, are some of the best available. We have a handful of apartments left for sale, starting from just £450,000 – around three times cheaper than the Thames-side average.”
“There is an extra bonus if the property has a balcony, terrace or communal rooftop space where people can sit and admire the panorama,” adds Karolina. “We’re lucky that we have all three features at Tavern Quay – and the most stunning river views are probably found from our private roof terrace – enjoyed exclusively by the development’s residents.”
Those considering a buy-to-let purchase at Tavern Quay can take something positive away from the research. After analysing average rents paid for inland and similarly specified waterside properties, there is a premium to rent a property overlooking the Thames. This is great for landlords looking to tempt tenants in a somewhat crowded apartment market and maximise yields.
A river view also helps a property retain its value, concludes Karolina. “There’s only a finite amount of riverside land that’s suitable for residential use, so there will always be a limited supply of homes that have direct Thames-side frontage. That’s especially true south of the river, as we don’t have the concentration of skyscrapers you see at Canary Wharf. Tavern Quay is set along an attractive and historic part of the River Thames, and it’s a development that’s not dwarfed by high-rise neighbours or unsympathetic builds.”
Contact the Tavern Quay team today to reserve one of the last remaining apartments with River Thames views.