Property

Developer Ballymore regenerates London's City Island

Goodluck Hope

Cracks may be appearing in the UK’s calm façade with Brexit negotiations and only a wisp of a government in place to carry them out, but London’s regeneration forges ahead. 

There seems to be no end in sight to the ambitious reinvention of the city, a process that respects history as much as it looks to the future. The latest addition to the regeneration portfolio sits on the River Lea’s Leamouth Peninsula, on the (yes) natural City Island. The island could easily be called ‘Ballymore Island’ for all the work the developer has put into it over the past few years, which already includes half a dozen residences, offices, a chic green grocer, dining and lush green space. Spanning almost three hectares, Goodluck Hope is poised to complete the picture.


Goodluck Hope


Goodluck Hope

Stoking creativity

Developed in conjunction with Hong Kong-based KFI (Kwok Family Interests, major shareholders in Sun Hung Kai Properties), Goodluck Hope sits on the tip of City Island, technically in the same district as Canary Wharf. Truly about 30 minutes from central London on transit and a pleasant river walk from Canning Town Station — over the red steel bridge spanning the river — Goodluck Hope is served by DLR, Tube and (eventually) Crossrail; Heathrow is accessible in under 40 minutes. The connectivity, combined with its future creative industries, dining and cultural outlets, makes the project a strong investment choice too.

“Our vision for Goodluck Hope has always been to create a culturally rich, inspiring, riverside neighbourhood community with a focus on innovation at its heart,” said Ballymore's managing director John Mulryan in a statement. “The area has a strong industrial heritage and we wanted to build on that, creating an environment that enables artisans and creative individuals to come together to meet, work and share ideas. The addition of Goodluck Hope completes our transformation of the Leamouth Peninsula that will see it become one of the most exciting and sought after areas to live in London.”

Indeed. In a market that shows no signs of a drastic correction anytime soon, prices on London’s east side are competitive — and attractive. Comparable properties in the central-west (where Mayfair is located) average roughly £1,750 per square foot on the low end. In the central-east area, The City, prices are sitting at £1,300, and £650 in the southeast (Elephant & Castle). In Goodluck Hope’s borough, Canary Wharf, prices average about £1,200. Rents are estimated at £450 per week at Canary Wharf, and should reach £385 at City Island according to JLL.


Goodluck Hope

Other London projects:
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>> Canary Wharf's second residential project

City within a city

When complete, Goodluck Hope will comprise of 804 homes as well as 24,000 square feet of commercial space for offices, creative studios and retail. Ballymore already has plans for some of the hipper tenants and services that will make a home on the wharf, and scattered among the repurposed shipping containers already there will be a craft brewing company, the English National Ballet, the London Film School, and elite primary Faraday School. At the end of the island sits Trinity Buoy Wharf, the Grade 2 listed dry dock that will become a central social feature of the project and a public space for all to take in the Thames rolling by.


Goodluck Hope

In exploiting the area’s maritime, shipbuilding and import-export heritage, the existing warehouses will be replaced with a series of low- to medium-rise buildings designed by architects Allies and Morrison (Nine Elms Parkside in London). Each will be just slightly different than the next, and Woods Bagot’s interiors (who refurbished the InterContinental Hong Kong) will be a highlight. Tapping into that industrial past, flats will feature plenty of exposed brick, faux wrought iron, brass, glass and fly walls that will provide a sense of space and openness as well as privacy when it’s wanted. Most units will feature some kind of outdoor space, be it a terrace, balcony or winter garden type addition. Concrete and timber, floor-to-ceiling windows and exposed duct ceilings complete the vibe, which also brings the kind of fresh aesthetic scores developers only talk about to the Canary Wharf-dominated east side.


Goodluck Hope

“’Built from the fabric of London’ is very much our mantra. We want this to be real, with a very strong character that goes back to the roots of the area,” states Jenny Steen, sales director for Ballymore. “The heritage of the area is very important to us, and you don’t necessarily want to go someplace and change everything that was there before, so we’ll use that inspiration in the architecture and interiors. I also believe that the creative angle appeals to people who work in Canary Wharf and in the professional sectors because they also like something that’s special and has that energy. It’s a nice reprieve from the corporate world.”

Goodluck Hope — whose residential and commercial buildings will carry names like Triton, Orion, Briton and Argo — will also feature comprehensive leisure facilities, including a pool overlooking the Thames, a cinema, and full concierge services. The 1595 Club is the place where residents will be able to connect and relax if the rest of the city is just too far away sometimes.

Suites (essentially studios) and one- to three-bedroom flats and townhouses begin at approximately 410 square feet, and the first completions are scheduled for 2020. Prices begin at £335,000 (HK$3.4 million).

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