It hasn’t always been so popular to live in Poplar. Its postcode, E14, has held the dubious honour of being the most unequal in the UK, as its East End estates sit a stone’s throw away from the shimmering towers of Canary Wharf. It’s now best known in the nation’s mindset as the impoverished setting for BBC drama Call the Midwife.
But all this is set to change very quickly. The size of the workforce in Canary Wharf now outstrips that of the City of London and with the ExCeL exhibition centre and London City Airport nearby, there are more people than ever needing to live within a commutable, yet affordable, distance.
“When it comes to investment, East London has seen some fantastic growth stories” says John Morley, managing director of Johns & Co, “and rental yields can grow as much as six per cent in some parts. If you compare this to areas of central London where you won’t achieve more than three per cent, Poplar and the Docklands are an attractive proposition.”
Average rents for a one-bedroom house are around £325pw and homes go for between £1,100 and £1,200psqft. But the real success story here has been in rapid growth of new development. Long before Canary Wharf’s residences have got off the ground, all the homes at Telford Homes have been let and its 21-story tower near the docks will be complete at the end of 2017. Bellway Homes has also invested in a number of affordable homes, which will be completed in the coming weeks and warehouse space in Spratt’s Dog Biscuit Factory along the Limehouse Cut is proving more appetising than it sounds.
The historic Chrisp Street Market is also having £300m pumped into it following a deal between United House Developments and local housing association Poplar HARCA, including 750 new homes and 250,000sqft of retail space. As with many areas throughout London, it’s also set to benefit from Crossrail stopping at nearby Canary Wharf in 2018.
Foxton’s estate agent, Josh Olive, says he’s seen a complete change in people’s perceptions of Poplar as a result and he predicts a 30-40 per cent rise in house prices in the next five years. “When I started working for our Canary Wharf office nine years ago,” he says, “areas within easy commute, specifically the Isle of Dogs, were very popular, but the Poplar area would not have been the buyer’s first choice. Now, the level of interest has almost flipped around, with Poplar becoming more desirable.”
FIVE REASONS TO MOVE TO POPLAR
1 If you're looking for a peaceful waterside location that's affordable, Poplar's the place for you. Grab a spacious piece of industrial history alongside the marina or the Limehouse Cut.
2 Foodies bored of the tourism of Borough Market should head down to Bite Festival at the soon-to-be spruced-up Chrisp Street Market, run from East India Square every month.
3 Your local will be The Gun, a much-loved pub by the Thames, that serves modern British gastro fare in a white-linen dining room. It also has a feast menu for special occasions.
4 If you're a fan of fresh fish and seafood, then you'll love Billingsgate fish market. It used to be the largest in the world but now it sells stock to London's top restaurants.
5 The area has been pretty well connected to the City since the arrival of the DLR in the 1980s, but the arrival of Crossrail will really put it on the high-speed map.
|Time to Canary Wharf||7 mins|
|Time to Liverpool Street||15 mins|
|Nearest stations||Poplar DLR|
PRIVATE VIEW: ON THE MARKET IN POPLAR
This luxury development has 120 one, two and three bedroom apartments and three townhouses on sale near Poplar Marina Dock. The architecture will take its inspiration from the industrial feel of New York's meatpacking district.
For more information, contact Telford Homes on 01992 809800 or visit manhattanplaza.co.uk
Around 1,170 homes are being built over 12 years as part of this £250m regeneration project in the heart of Poplar. A central avenue with a new community centre, green space and healthcare facilities will service its one, two and three bedroom apartments.
Register your interest by calling 0207 758 8449 or visit av-e14.com
Snap up one of 90 studio, one and two bedroom warehouse conversions at this Regal Homes development, which is situated alongside London's oldest canal, the Limehouse Cut. Developer Regal Homes has created contemporary furnishings inside a 15th century industrial relic.
For more information, contact the sales and marketing team on 020 7328 7171