Well-located London apartments continue to attract strong international interest despite the current recession and currency differential. Few are better placed than Canary Wharf, the flagship of the city's docklands. One of the last residential schemes in this renowned development, Canary Central, is to be located off Mastmaker Road on the former site of the Lyle Sugar Works, close to the London Arena and the new Jubilee Line.
Local agent Jackson-Stops is holding an exhibition in the Radisson Hotel in Stillorgan, Co Dublin, this weekend to take bookings.
About 100 apartments remain for sale from plans, out of 406 in the entire scheme. Two-bedroom units from 737 to 907 sq ft start at £285,000 sterling and 1,100 to 1,200 sq ft three-bedroom apartments are from £370,000.
Investors who avail of the furnishing package are guaranteed rental returns of 8 per cent of the purchase price in year one. Weekly rents are estimated at £500 for two-bed units and £600 for three-bedroom apartments.
Management charges are £1,200 to £1,500 per annum. Completion is not expected until 2004, ensuring a long lead-in period for the final payment. The apartments will come with smart maple kitchens and a full range of electrical appliances.
Electric under-floor heating is another advantage. In addition to a pool, the health and leisure facility will have a Jacuzzi and saunas, a fully-equipped gymnasium and showers. Parking is underground, with each space costing an additional £25,000.
