Canary Wharf Art Deco skyscraper sells out in four hours
More than 200 apartments sold out at the Art Deco skyscraper in Canary Wharf in a single morning, totalling £35m per hour.
London’s largest art deco development has virtually sold out in just four hours, with sales totalling £35m per hour.
The 208 apartments, which were designed by Argent Design, the firm favoured by Madonna, Guy Ritchie and tycoon Richard Caring, owner of Scott's and The Ivy, sold at an average £1,200 per sq ft.
Some 350 people visited the launch, with one potential buyer starting to queue outside the marketing suite 36 hours beforehand.
The 41 storey tower forms part of Harbour Central at 2 Millharbour Dock Basin, the £550m transformation of a former industrial site into a Manhattan-style vertical village. Construction on the tower will be completed in 2019.
Maine Tower will comprise 297 studio to five bedroom apartments and penthouses. Galliard Homes, in joint venture with Cain Hoy and Frogmore, released 230 studio, one, two and three bedroom apartments for sale off-plan a fortnight ago. The premier and penthouses were held back from the launch.
Half of the buyers were from the UK and included first-time home buyers purchasing studio and one bedroom flats. The remaining 50 per cent of the buyers were from Europe, India, the Middle East and Far East. The European buyers included Greeks, French and Italians.
Maine Tower will boast a hotel-style entrance foyer, echoing the interiors of the 2013 Great Gatsby movie. It will feature a three metre-high ceiling, lifts with bronze effect, concierge desk and seating areas with sculptural sofas and coffee tables.
It will also contain 24 hour concierge, CCTV security, business meeting rooms, a double height library and lounge, gym and spa, a 20 person cinema, club lounge and an Art Deco-themed champagne and cocktail bar with stone, bronze effect and glass finishes.
The apartments in Maine Tower will all feature spacious reception rooms, bespoke entertainment systems, mood lighting and floor-to-ceiling glazing, with many opening onto private balconies.
The Manhattan and Art Deco-themed interiors were all designed by luxury interior design specialist, Argent Design.
David Galman, sales director at Galliard Homes, said: “It’s not every day in London that a residential skyscraper virtually sells out during a launch. The volume and speed of sales at the Maine Tower launch was incredible and shows the confidence that buyers from both the UK and overseas currently have in the London property market.
“At this development we are providing a high quality product, luxurious lifestyle amenities and a prime Canary Wharf location."
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Harbour Central will eventually provide a total of 901 new homes, shops, commercial space, leisure facilities and parking in five mixed-use towers.
The scheme is part of the first planning-consented phase of the wider Millharbour Village project. The village, which is still in planning, will comprise 1,550 new homes in six skyscrapers as well as 161,000 sq ft of shops, restaurants, bars, leisure and educational facilities.
Together, Harbour Central and Millharbour Village will form Dockland's largest residential scheme, with more than 2,450 new homes.
Harbour Central is five minutes’ walk from the heart of Canary Wharf, which has banks, headquarter buildings and four shopping malls.
It is served by the Underground (Jubilee Line), Docklands Light Railway, Thames Clipper shuttle service and City Airport. The high speed rail line, Crossrail, is scheduled to open in 2018, and is helping to drive a property boom in the area.
There is a raft of residential-led developments that are emerging in the wider Docklands area. The first homes to be developed on the former Wood Wharf site at Canary Wharf were launched for sale in early July. The scheme at 10 Park Drive will include 345 apartments, with prices starting at £395,000. It too will be complete by 2019. It is part of wider plans by Canary Wharf Group, which owns and runs the entire 97 acre site.
Other developments in the pipeline in the area include South Quay Plaza, a Foster + Partners-designed waterfront project by Berkeley Group. And Chinese group Greenland has secured planning permission for a 63 storey tower, which has been labelled Europe’s tallest residential tower.
1. This one bedroom flat in the Jessops Building at New Providence Wharf is priced at £101,875 on a shared ownership basis. There is a range of restaurants, café and bar facilities the development. It is on the market via Genesis - New Providence Wharf.
3. This one bedroom apartment at Orchard Place is located on London City Island, an exclusive island comprising contemporary apartments, services and facilities and landscaped waterways and parkland. It is available for £498,000 via Ballymore - London City Island.