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Uk Developer St Williams Launches East London Project Regent%E2%80%99S View Asia

Posted on December 6, 2024

St William, a subsidiary of the prestigious Berkeley Group, has recently launched a new residential project called Regent’s View in London. This 555-unit development is located in the Tower Hamlets borough, an area of London that is known for its vibrant and bustling atmosphere. What makes this project unique is that it is an adaptive reuse scheme, transforming a decommissioned Victorian-era gasholder site into a modern mixed-use development with a canal-front view.

Regent’s View has already caught the attention of the global community, winning the prestigious “Best Future Residential Project” award at the World Architecture Festival 2024, held in Singapore at the iconic Marina Bay Sands.

St William was formed in 2014 as a joint venture between Berkeley Group and London’s National Grid, with the aim of redeveloping disused industrial sites owned by the National Grid into new residential and community spaces. In 2022, Berkeley Group fully acquired St William, giving it access to 24 brownfield sites across London for its long-term landbank. Currently, St William has approximately six ongoing development projects.

One of these projects is Regent’s View, a 4.5-acre site situated along the banks of Regent’s Canal in Tower Hamlets. The site was formerly known as the Bethnal Green Gasholders, an iconic landmark in the area since the 1850s. The gasholders were used to supply gas to the surrounding homes but were decommissioned in 2012 due to structural decay. Out of the several Victorian-era gasholders, only two were deemed worthy of preservation. However, St William and their architectural partner, RSHP, have made it a priority to incorporate these historic frames into the design of the new development.

Graham Stirk, senior director at RSHP, explains, “Our design for Regent’s View celebrates the historical industrial heritage of the site. The decision to preserve the gasholder frames was not only for their historical significance but also to create a unique urban and architectural space for residents to enjoy.”

The development will comprise of five contemporary residential buildings, ranging from six to 13 storeys, surrounding a landscaped park. The two largest residential towers will feature restored gasholder structures, adding to the architectural charm of the development. In total, Regent’s View will offer 555 private and affordable homes, as well as 45,000 sq ft of ground floor commercial and community spaces, including 100m of public-access canal frontage. This will be the first time in over 150 years that the public will have access to this section of Regent’s Canal, which will be rejuvenated with new F&B offerings.

The development of Regent’s View was not without controversy, as local residents protested against the redevelopment of the site in 2019. However, the Tower Hamlets council voted in favor of the project, and St William spent nearly five years engaging with the community and addressing concerns. Dean Summers, divisional managing director at St William, shares, “We allocated 35% of the units for affordable housing, and we were committed to working closely with the council to preserve the gasholder frames and rejuvenate the canal front through placemaking activities.”

The design of the five residential blocks incorporates the existing gasholder frames, and the ground floors will feature non-residential spaces, such as cafes, bars, and restaurants. The two largest buildings will house public-facing amenities, while the remaining three will have exclusive facilities for residents. The project is a prime example of adaptive reuse, respecting the site’s history and creating a sustainable and vibrant community.

Regent’s View has received international interest, particularly from Asian buyers, thanks to its proximity to renowned educational institutions like University College London, King’s College London, and Queen Mary University of London. Additionally, the development is close to popular local attractions such as Broadway Market and London Fields, known for their artisanal shops, cafes, and young and lively atmosphere. The area is also well-connected, with Cambridge Heath train station providing access to central London and other popular destinations.

When contemplating an investment in a condo, it is crucial to also evaluate its potential rental yield. This refers to the annual rental income as a percentage of the property’s purchasing price. In Singapore, the rental yields for condos can greatly vary based on factors such as location, property condition, and market demand. For example, areas near business districts or educational institutions are likely to offer higher rental yields due to a high demand for rental properties. To gain a better understanding of a specific condo’s rental potential, it is beneficial to conduct thorough market research and seek advice from real estate agents.

St. William launched the sales of The Wright Building, a six-storey block offering one- to three-bedroom units, last year. The block is over 70% sold, with prices ranging from GBP675,000 ($1.15 million) to GBP1.63 million. In September, St William launched the sale of The Westwood Building, a six-storey block with one- and three-bedroom units, with prices starting from GBP585,000 to GBP1.68 million. The developer expects strong interest from international buyers, especially those looking for a base for their children attending university or a professional residence near London’s financial hubs.

The third sales phase, expected to launch in the second half of 2025, will comprise larger units, including three-bedroom offerings. The development’s success so far highlights the increasing interest in new projects in London’s city fringe neighborhoods in Zone 2. These properties offer attractive rental premiums, making them a smart investment choice for buyers.

In conclusion, Regent’s View is not just an ordinary development. It is a testament to the successful adaptation of an old industrial site into a modern, sustainable community that pays homage to its past. The project is a perfect example of how a development can contribute to the rejuvenation of a neighborhood, making it more livable and desirable for residents.

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