Rental Hotspot Canary Wharf A Boon For Investors
Recent research from JLL has shown that Canary Wharf is shaping up to London’s next residential hotspot post-pandemic – with the surge in rentals being a real benefit to property investors.
With the impressive range of new build homes available at major developments across east London Boroughs such as Newham and Tower Hamlets, there is choice for buy-to-let investors across a wide budget spectrum.
The JLL research has shown the increase in rental demand is fuelled by those seeking additional space at reasonable rents for home working and interesting views, with doorstep access to great amenities and shops. There are also those who want to escape house shares and get a place alone or with a partner. As JLL’s stats show:
- Lettings in Canary Wharf have increased 63% from 2020 to 2021
- Enquiries for lettings in the area have jumped by almost 125% from this time last year as renters begin to look for their post-pandemic pad of their dreams
- There has also been a marked increase in lettings needs from those with pets as the marked increase in dog ownership takes hold on the lettings market and landlords become more amenable to responsible pet owner tenants
Lauren Hatcliff, director at JLL Residential Agency, commented on the findings: “Canary Wharf is enjoying a major resurgence in interest from savvy renters who see what the area can offer. From young couples getting their first place together and singles moving out of house shares to new pet owners and people looking for more of an urban lifestyle, Canary Wharf is proving that it’s got everything and renters are keen to get a piece of it. The homes available in this East London hotspot are of the highest quality with a lot of choice in terms of views, floor plans and building types so there really is something for everyone.
“For investors this is very welcome news as Canary Wharf is living up to the promise that those ‘in the know’ have understood for years. Canary Wharf offers renters a lifestyle location, with fantastic homes and world class transport.”
Case study: Oli and Charlotte
Both aged 27, the couplehave recently moved into their new apartment in the Landmark Pinnacle development based in Canary Wharf. Originally living in Hertfordshire, they were keen to move closer to the City and experience a new and more exciting urban lifestyle. On their decision to move to Canary Wharf, they said: “We’re so pleased we made the decision to move to Canary Wharf. Not only were we surprised with the reasonable rental prices in the area, we felt that, in comparison to other new developments in locations such as West and Central London, Canary Wharf and Landmark Pinnacle offered the best in terms of pricing, convenience of commute (pre-Covid of course!) and sophisticated but relaxed living.
“The connectivity of Canary Wharf to the City means our commute to work will be very easy which will help improve our work/life balance and with lots of exciting amenities close by, we can’t wait to start enjoying everything the development and area has to offer as the world starts to reopen.”
Landmark Pinnacle is London’s tallest residential tower, standing at 75 stories, in one of London’s most iconic locations. Benefitting from some of the capital’s most expansive and spectacular views, the schemes apartments will be some of the most breathtaking places one could possibly call home. Moreover, residents will enjoy the use of multiple amenity spaces, including a private cinema, floor-length children’s play area, virtual golf, pool tables and Pilates studios. But the best is saved for the top where, on the building’s 75th floor, a residents-only roof terrace with panoramic views across London is located. Prices range from £559,000 to £1,621,750. Find out more at residential.jll.co.uk.
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