As more rental schemes come online in the capital, EG presents five videos that give an idea of the products on offer and the amenity spaces accompanying them.
And in an attempt to be young and cool – and move away from filters and staged shots – all the filming has been done on a mobile to give an impression of what the blocks really look like.
The Rehearsal Rooms – M&G
M&G’s North Acton scheme was designed and built by HUB. It was touted widely as one of the first purpose-built schemes in London.
Its 173 rooms, which became available last May, are almost all fully let, with rents for a one-bedroom flat averaging £1,495 per month, and for a two bedroom flat £1,843, thought this does not include wifi or utilities.
Immediate thoughts: The block sits right on top of North Acton Underground station, which is great, and includes concierge, roof gardens and a small lounge. There is not much amenity space but the build is light and pleasant, as are the apartments. Rents are pretty steep for no bills included.
Pioneer Point – Kennedy Wilson
Kennedy Wilson picked up Pioneer Point in Ilford after the downturn. The block was intended initially for the sale market.
After extensive refurbishment, it opened its doors last year to renters, with one-bedroom flats starting at £310 per week and two bedroom flats at £360 – equating to £1,240 and £1,440 a month respectively – including wifi, utilities and amenities. The fit-out includes bookable dining areas and flexible office space. There is an easyGym downstairs though this is not included in the rent.
Immediate thoughts: Despite being in Ilford, the block and its apartments are nice, and about three minutes away from the station. The amenities on the ground floor are pretty cool, and the membership to the easyGym, rather than having a small gym in house, is arguably a much better idea. Views from higher floors are awesome.
Abbeville Apartments – Grainger
One of the first build-to-rent blocks in London, Grainger’s Abbeville opened its doors in 2015 and has since become very popular, especially with families.
The 100 apartments are priced from £1,200 for a one-bedroom flat to £1,400 for a two-bedroom flat, which includes wifi and communal facilities, but not utilities. The communal facilities are simple – and evolved considerably between Abbeville and the later Argo scheme in the video – but also include an unloading area for new tenants.
First impressions: A nice, simple block in the East End. Rents are high but not prohibitive, and rooms are simple and pleasant. The loading bay was a great idea.
Royal Wharf/The Sugar Works – L&Q
L&Q has bought two phases of phases of Royal Wharf – one of 243 homes and another of 195 – from Ballymore and Oxley in the East End.
The Sugar Works is the first to be completed, and all 243 flats are being done at London Living rent: which means a one-bedroom flat goes for £730 per month and a three-bedroom for just over £1,000, not including bills.
L&Q apparently received 800 enquiries on the first weekend after launch. The second phase will be for regular rent.
First impressions: The fact the apartments are identical to private sale yet going for £1,000 a month is ridiculous – and the one-bedroom flats at £730 are hardly expensive. The only downside is that there are no amenities to speak of in the block, though L&Q says these will be available from the central area. It’s also a bit of a slog out to Pontoon Dock. Crossrail will make a massive difference.
Wembley – Lone Star/Quintain
Lone Star announced last year that it would be building all 5,000 to 6,000 homes at Wembley for the rental market, which is a massive undertaking.
The first 261 apartments to become available are spread across two blocks, and have been converted from for-sale units to be let at rents starting at £1,725 for a one-bedroom flat and £2,050 for a two-bedroom flat, including all bills and utilities, as well as wifi.
First impressions:
Rents are pretty steep for Wembley, but the size and shape of the apartments are super. The amenity spaces are a bit of a work in progress, but still nice touches, and the management will have to be effective if they are to look after all 5,000 units. A central gym and other communal facilities for all, rather than building by building, would be cool.
To send feedback, e-mail alex.peace@egi.co.uk or tweet @egalexpeace or @estatesgazette
