Vatsal Dave, sales manager for Argent Related, took us on a digital face-to-face tour of new homes at a major development in north-east London.
1 Ashley Road is the first residential scheme from developer Argent Related, a new company formed by UK developer Argent and US-based company Related, within a seven-building regeneration at the heart of Tottenham Hale, and part of a major redevelopment of Tottenham Hale in north-east London taking place in partnership with Haringey Council.
One of the largest current projects in north London, it will bring over 1,000 new homes of different tenures to the heart of the area, along with new retail and leisure facilities, co-working and office space ,a health centre and a lot of landscaped public space.
The first new building to launch in Tottenham Hale is 1 Ashley Road: 183 studios, one-, two- and three-bedroom apartments architecturally designed by Alison Brooks Architects (RIBA Stirling Prize-winner) with interior design by Conran and Partners.
“Our ambition is to be the best city developers in the world. We’re known for the quality of our product, with ‘extra’ features that we believe are essential,” says Vatsal, referring to the multi-award-winning achievements that Argent has made at the ongoing regeneration of King’s Cross, considered the one of the largest in Europe.
“We are taking a different approach at Tottenham Hale, to attract young professionals looking for a quality home at a good price. We’re building a mixed-use development, create a central lifestyle hub’ to bring up the profile of the area as a whole.”
Tottenham Hale is served by the Victoria line and by frequent services Greater Anglia rail services to Stratford, Stansted Airport and Liverpool Street. According to research from Knight Frank, the average price of a home near stations along the Victoria line is £807,783 and peaks at over £1.6m near Victoria station. The most affordable place to buy is at Tottenham Hale: the average price of a home near the station is £405,162, the least expensive of all stations along the Victoria line.
Furthermore, when comparing all Zone 3 stations in London, Tottenham Hale is more affordable than 80% of the other neighbourhoods. During Q3 of 2018, a breakdown of property transactions within 750 metres of Zone 3 stations indicates that out of 174 neighbourhoods, 139 have higher average sale prices than Tottenham Hale.
“These first homes are just 150 metres from the station. It’s a great transport link but I think it’s currently underrated, though some 17 million people use the station every year[VD1] . There’s no doubt that bringing better-quality housing and creating a civic hub will increase numbers.”
Groundworks have started at the site and even with the disruption caused by lockdown, completion is planned for Summer 2022. So for now, buyer interest is very much off-plan.
“There’s quite a difference between looking for property as an investor and as an owner-occupier. Buying off-plan is a difficult concept for some, and hard for them to commit to,” says Vatsal. “There are practical differences to purchasing a home that is completed or close to completion. Some may have a deposit in place but there’s still forward planning. There are payment plans in place but people like to ‘touch and feel’ before committing.”
Until the much-welcome restart measures were introduced by the government last week, the property market has slowed down significantly for housebuilders and estate agents. However, while office and site visits were impossible for some time, online and digital activity increased significantly.
“We’ve had a good number of enquiries over the last two months,” continues Vatsal. “People have had time on their hands and have used that to research and ask for and gather further information on properties they are interested in. We have seen a spike in activity from our international audience and done seven deals in the last two weeks.”
There’s no show home at 1 Ashley Road as yet, but there is a Sales Suite, and there’s been interest shown from local buyers and from commuters looking for a place to live that combines connectivity with quality of life and good value.
Technology was embraced by Argent Related a long time ago and it is used to using things like drones and sophisticated CGI. Here, house-hunters can be taken on a very thorough virtual tour by a sales agent. This will start with a Power Point presentation and general overview of Tottenham Hale. Then there’s a visual tour, with extensive CGI views from different angles of the development, the surrounding area, public spaces, residents’ lounge and concierge area. Next, buyers can discuss the type of property and budget they have and be shown a range of suitable available homes in the form of floorplans and the view that a specific unit will have from windows or balconies.
Vatsal comments: “We’ve purposely designed the building without penthouses, and put the larger units, family-sized homes, in the lower part of the building for easier access to street level. The one- and two-bedroom units higher up will more likely appeal to people who prioritise having a great view.”
Current prices for one-, two- and three-bedroom apartments start at £413,000, £580,000 and £719,000 respectively. London Help to Buy will be available nearer completion.
Find out more at tottenhamhale.london/1-ashley-road.
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