Canary Wharf Group’s residential leasing arm – Vertus – has reported a large increase in demand from Londoners, especially from other areas of East London, at its first Build to Rent development, 10 George Street.
The demand from new residents was because they were looking for flexible tenancies without having to compromise on the quality of apartments. Considered one of London’s best rental addresses, 10 George Street includes 327 high-spec, spacious homes – a mix of studios, one, two- and three-bedroom apartments with luxury amenity spaces and concierge services.
“Since lockdown measures were eased and people were allowed to move home again, we have seen an increase in demand from Londoners at 10 George Street. To put the numbers into context, in June almost 60% of our new tenants were Londoners looking to relocate to Canary Wharf, which is a significant increase since we launched in February.
“We believe this is due to a number of reasons including an increase in demand for flexibility within residential leasing and customers wanting more from the spaces they live in. We understand that space is important, especially in London. The high-quality amenity spaces on offer at 10 George Street – that have the wellbeing of residents at its core – really enhances the living experience with Vertus and we believe these spaces are a real draw for Londoners.”Alastair Mullens, Head of Vertus
Many areas in East London – such as Stratford and Barking – are seeing a resurgence in redevelopment. Additional data released by Vertus shows that since launching in February 2020, 62% of new residents relocated from other areas of East London, choosing to live in Canary Wharf.
“Canary Wharf and Wood Wharf offer something that other areas of east London do not. With luxury residential homes, exceptional retail and hospitality offerings, and beautifully designed public spaces; tenants are being drawn to a way of living that matches certain areas of prime central London. 10 George Street has been designed to set a new standard for private rented living in London, which is also a key factor behind people’s decision to relocate to this part of the city.”Alastair Mullens, Head of Vertus
Amenities at 10 George Street include Club Vertus and a concierge service. Amenity spaces – furnished by interior designers, Angel O’Donnell – include a lounge with self-service bar stocked by local specialists Humble Grape, a south facing garden terrace, private dining room and private gym studio managed by wellness experts Antidote. There are also two guest suites available for residents to reserve for visitors.
“10 George Street suits my situation perfectly. I currently have no desire to buy somewhere and I’m more than happy to rent here and enjoy everything Vertus and Canary Wharf has to offer. I see myself here for at least one year, perhaps more, I’m flexible and enjoying myself.”Katherine Meadows, New resident
Due to the Covid-19 pandemic, prospective residents have re-evaluated the areas and spaces they live in, their home priorities and work commute times. Vertus has seen an increase in new customers wanting to reduce commute times while also having access to high-level private amenity spaces.
“The Vertus team are available 24/7 to help residents with everything from arranging dry cleaning services and parcel deliveries, to organising wine tasting events and BBQs on the terrace. Residents want the hassle of everyday life taken away, especially during the current circumstances and the team is on hand to ensure all communal spaces are clean and that residents feel safe in their homes.”Alastair Mullens, Head of Vertus