Home Property Property spotlight: Canada Water, a smart choice for millennials

Property spotlight: Canada Water, a smart choice for millennials

by LLP Reporter
23rd Jan 19 10:30 am

For millennials living in London, renting is very often a preferred way of life. They are drawn to areas because of the lifestyle on offer, as well as a short commute to work, good value and the flexibility renting a home can provide. In Canada Water, just one tube stop away from its more affluent neighbour, Canary Wharf, asking rents are on average 27% lower. According to current data from Zoopla, the average rent in Canary Wharf is £2,464 per month whilst in Canada Water the average is £1,778, a saving of almost £700. Porters Edge at Water Yards in the thriving district of Rotherhithe in Canada Water, delivers a collection of high-quality homes to rent with a range of outstanding on-site amenities from Folio London. Available to move into now, these homes are ideal for those looking for a more affordable option close to the City.

Four out of ten 30-year-olds rent privately according to the Resolution Foundation, double the rate for Generation X when they were the same age and four times that of baby boomers. This figure is even higher in London and only set to increase in the future. Typically, in the young professional category, this is the generation seen as wanting to have it all, enjoying the choice and flexibility that comes with renting, but still ruled by what is affordable.  That is why a convenient and less expensive location close to a major employment hub is always going to be a good option.

Less than a five-minute walk from Canada Water tube station in Zone 2, Porters Edge offers that ideal combination of excellent transport links, a vibrant up and coming area and high-quality homes that also provides tenants with an exceptional choice of on-site facilities. A joint venture development between Notting Hill Genesis and Sellar, Porters Edge is the first phase of properties to be released at Water Yards and offers 234 waterside apartments, duplexes and townhouses set on the edge of London’s largest freshwater lake.

Lizzie Stevens, Director of Folio London comments: “We know that for the millennial demographic renting offers convenience and mobility, but the bottom line is usually cost. Canada Water is the affordable neighbour to Canary Wharf – by going just one stop further down the line, renters can significantly cut their costs while still enjoying a super handy and buzzing location. This is definitely an area to watch. And thanks to an excellent range of communal facilities and services at Porters Edge, there is also a great community feel to living here.”

The range of on-site facilities offered to residents at Porters Edge at no additional cost, is extensive. They include a state-of-the-art gym, residents’ lounge with free WiFi that provides a place to work and socialise and a communal rooftop garden with multi-use games area and play space. At the on-site café MouseTail residents get special offers and there is also complimentary car club membership and of course 24-hour concierge on hand to help at all times.

The interiors of the properties are stylish and spacious, available in a range of layouts to suit different tenants and lifestyles. Bright, fully fitted kitchens feature integrated appliances, while bathrooms provide elegant white suites and chrome fittings, and tenants can take their pick from a range of furniture packages also available at no extra cost. All apartments have a private terrace or balcony, while some of the properties have direct access to the central courtyard.

Porters Edge forms part of the eight-acre Water Yards development, located within the Surrey Quays regeneration zone, which is designated one of the Mayor of London’s Opportunity Areas. Prices for a studio apartment at Porters Edge start from £1,575 per month. Along with other development plans in the pipeline, an exciting new neighbourhood is being created including new shops and public leisure facilities. The area is already not only served by the Jubilee Line providing fast connections to Canary Wharf and London Bridge, but also the East London making trips to place like Shoreditch and Dalston incredibly easy for an evening out. Surrey Quays already has a cinema and range of shops and restaurants and at weekends there is a buzz around Street Feast’s pop-up bars and food market.


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