The Pint of Milk Test: December 2011 Archives

London Pleasure Gardens

By Paul Wellman on December 19, 2011 3:08 PM | No Comments | No TrackBacks

Here at LRR we often come across temporary uses for sites, whilst sites are lain vacant for a while. This sort of thing has become more of the norm as developments are put on hold. This though has got to be the biggest we've ever come across and unlikely ever to be exceeded.

Silvertown Quays in the Royal Docks, one day, not for a while mind you will be a huge mixed use development. Recently the LDA shortlisted a consortium from Chelsfield, as well as Delancey and St George to work on proposals for the 50 acre site with up to 500,000 sqm of development potential.

However next year, it be known as London's Pleasure Garden, a huge temporary mixed use, major arts and entertainment destination, with pop-up hotels and floating cocktail lounges. It will open on the weekend of the Queen's Jubilee. Here's a couple of renders from the application.

Here's the extent of the site, it will take up almost the whole Silvertown Quays site, outlined on this video. View the Silvertown Quays building report here. Summer 2012 is gearing up to be a big one and I have a feeling will be quite different to normal ones...

Silvertown Quays from GQ Design on Vimeo.

Orange Shard......

By Daniel Smith on December 19, 2011 9:35 AM | No Comments | No TrackBacks

.......in the early morning sun

Unite get consent for 951 bed Olympic student scheme

By Paul Wellman on December 16, 2011 5:26 PM | No Comments | No TrackBacks

Just last month I blogged (here) about a student scheme in Stratford of Olympic size, close to 1,000 student beds, right next to the Westfield shopping centre. The story here was that Newham, the borough the site is situated in was very against the development, noting many reasons why they recommended it for refusal.

The trouble was they didn't have control over its decision. The ODA planning team did and you can guess what happened can't you (well it is in the title). Permission granted. More on the story can be found in the previous blog here.

Image from BDP

More residential schemes to be developed in the City

By Paul Wellman on December 16, 2011 4:17 PM | No Comments | No TrackBacks

The old adage of buses, where you wait ages, then two come along at once could easily apply to the City's delivery of residential schemes. Remember when The Heron first appeared a couple of years ago; Gerald Ronson was most proud of the fact that his scheme was the first residential development (of any size) to be built in the city for the past 30 years.

To add to the Heron, on Tuesday, the City of London planning committee granted consent to two notable schemes; Roman House on Wood Street by Berkeley (90 units) and St Dunstan's House on Fetter Lane (76 units), all private of course.

Below is Berkeley Group's Roman House plans. The scheme already benefits from a near 9,000 sqm new build office development from First Orion Amber. However they went into receivership, KPMG took over, Berkeley then bought the site for around £15 million and today it looks likely to built out as luxury flats. With the Heron Tower itself and the Barbican estate on its doorstep, the area between Barbican and Moorgate tube stations is turning into a bit of a residential quarter.

and this one is St Dunstan's House situated at 133-137 Fetter Lane, just up the road from EG Towers. The commute would be very good, although probably slightly out of my price range. The site is currently a court house, with the applicant them self being Her Majesty's Court Service, having just moved to the recently completed Rolls Building (opened by the Queen), a stones throw away.

Admittedly neither proposal is exciting as the Heron Tower but it does prove how residential schemes are becoming increasingly thought of as an asset class so close to the City when traditionally it was only offices. Prime central London flats have proved very resilient over the past year with foreign investors looking for a 'safe haven', with so much uncertainty over the Euro and sovereign debt. Even though these aren't prime postcodes and they won't fetch prices quite as similar, investors will snap them up pretty quickly...

Pictures: Thames cable car pylon tops out

By Paul Wellman on December 16, 2011 10:40 AM | No Comments | No TrackBacks

Whilst site visiting earlier on in the week, I also came across this in the Royal Docks; the 'Emirates' airline, better known as the Thames Cable car crossing. I must admit I had doubts this would rise and be in place before the Olympics start next year, remembering that it will connect both the Dome and Excel centre (sort of), two venues staging Olympic events. As you can see however, construction is progressing very well with the northern pylon already topped out.

Here's another shot, with the docking station in the foreground. The Siemens centre is also in the picture; the building under construction and behind the docking station to the right with the slopped roof.

The Londonist recently had the story of TfL releasing a new tube map with the cable car making its debut upon it.

Banksy takes swipe at stalled housing market

By Paul Wellman on December 14, 2011 10:07 AM | No Comments | No TrackBacks

Some sites have been in such a state for a while that when site visiting them, you can almost guarantee than nothing will have happened. One such site is 267 East India Dock Road (below). As you can see the development of 7 private units has almost completed, externally it has anyway. However the interior is completely bare and has been halted at this stage for almost 3 years.

I went back yesterday to see if anything had changed, and still construction has yet to re-start in order to complete the development. However, it appears Banksy has recently been on site with his witty, satirical poke at the demise of the housing market and people who subscribed to a lifestyle 'beyond there means'...

Apparently, the piece has already disappeared? Strange thinking I was there just yesterday afternoon. You can understand from the developer's point of view though, that it's quite mocking and potential purchasers would most probably be put off. Some pieces of Banksy's go for a lot of money though. Maybe the developer didn't think of selling the billboard, then using the funds to finish off the development?

Walkie Talkie progress

By Paul Wellman on December 5, 2011 4:12 PM | No Comments | No TrackBacks

Here at London Residential Research we also site visit for the London offices team. I was in the City at lunch time and was astonished at how quickly the concrete core of 20 Fenchurch Street has sprung up. Here it is a few months ago for some perspective...

again back in September...

and just a few hours ago...

Boxpark Update

By Nigel on December 1, 2011 11:35 AM | No Comments | No TrackBacks

The FT reported this morning that Charles Dunstone (Carphone Warehouse chief) is one of the secret backers of the Boxpark Shoreditch project. It's launching this weekend and with most of the containers let it should be a good one. We've blogged before about the site, here and here.

But Boxpark Shoredich is not alone, on the opposite side of the world there is another, Christchurch City Re:START, same idea, different continent:

More details on the New Zealand scheme here.

December 2011 Archives

London Pleasure Gardens

Orange Shard......

Unite get consent for 951 bed Olympic student scheme

More residential schemes to be developed in the City

Pictures: Thames cable car pylon tops out

Banksy takes swipe at stalled housing market

Walkie Talkie progress

Boxpark Update

What is the forecast for the London residential development market?

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