Rents at Baltimore Wharf to rise 5%

The Baltimore Wharf team predicts a five percent rise in rents as it opens a new, top-specification, private gym that is expected to pull up sales interest in the fast-selling waterside development, said Knight Frank.

Located in the Canary Wharf business district, the area is expected to evolve from a mini city to a medium city backed by a slew of developments, including commercial and residential projects and high rental yields guaranteed for investors.

The development’s appealing location and luxurious living spaces have already resulted in a waiting list of tenants expected to continue through 2012 and beyond.

The London Borough of Tower Hamlets has granted the outline planning consent for the redevelopment of the 16.8 acre Wood Wharf site, adjacent to Canary Wharf.

Situated near Canary Wharf, the Baltimore Wharf development comprises a total of 473 units.

Recently, the developer Ballymore launched new apartments in Baltimore Wharf, ranging from suites, one-, two- and three-bedroom homes and two-bedroom duplexes, with floor-to-ceiling windows.

“Baltimore Wharf is proving to be extremely popular with tenants as they continue to seek the high build quality and specifications provided associated by London’s premier developer Ballymore, with the proximity to both the D.L.R & Jubilee line tube station proving popular with people working in Canary Wharf or the City,” said Ian Ruffle of Chase Evans, the broker leading the rentals for apartments at Baltimore Wharf.

Knight Frank will be launching Baltimore Wharf on 11th and 12th February 2012 at Hilton Singapore from 11am to 7pm.

 

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