Riverscape’s new flagship building, The Forshaw, launches in Hong Kong
JLL’s new research reaffirms appetite for London’s Enterprise Zone, the Royal Docks
HONG KONG, 20 March, 2023 – Ballymore and Oxley’s newest riverside development Riverscape has announced the launch of its latest building, The Forshaw: the launch coincides with brand-new research from global real estate firm JLL, which identifies the Royal Docks as one of the UK’s youngest and fastest growing boroughs, and one that is set to see house prices increase by 19% over the next five years.
JLL has identified shifts in buyer priorities since the pandemic, in favour of areas offering a ‘village feel’: buyers rated proximity to green space, public transport links with diverse transport modes, and access to outside space as significantly more important since the pandemic, alongside factors like on-site leisure amenities and storage space in the home.
The research also reveals the population of Newham exceeded 351,000 in 2021, growing by 43,000 between 2011 and 2021 (+14%), putting it in the top 5% of local authorities for population growth nationwide and showing strong inward migration to this rapidly developing new district. Looking ahead, projections for the number of new households in Newham over the next ten years suggest growth of 10.7%, equating to an additional 12,500 households (compared to a London average of 7.6%).
Ballymore was one of the first developers to commit to the regeneration story of London’s historic Royal Docks and Riverscape builds on the developer’s ongoing contribution to its transformation. At 3,500 homes, the completed neighbourhood of Royal Wharf represents the most significant residential development in the area so far, with Riverscape building on this success, delivering a further 769 new homes in the area; Ballymore has a further 4,000 homes in the pipeline on neighbouring sites.
The Forshaw at Riverscape offers a fantastic opportunity for investment: property prices in this area rose by 4.2% in the past 12 months, and JLL forecasts that the Royal Docks will see a 19% increase in the five years to 2027, driven by demand for well-connected riverside homes: this will outperform the London forecast (14% growth) and the UK (9%). JLL notes that growth in house prices in the Royal Docks has been driven by the continued regeneration of this area, with demand from prospective residents only expected to grow as new transport links, community, leisure and retail facilities complete.
Bringing 82 contemporary one, two and three bedroom apartments to the market, available to buy from Saturday 25th March, the Forshaw at Riverscape will offer stunning views of the River Thames, as well as adjacent Lyle Park and the 5,500 m2 of beautiful courtyard gardens across the development, with completion expected in Q4 2024.
Inside the Forshaw, each apartment has been designed to accommodate modern lifestyles, with balconies, open floor plans, flexible day rooms perfect for home offices, playrooms, studios or dining areas. Expansive picture windows, up to three metres in width, include raised sills forming the perfect window seat to enjoy panoramic views of the river and park. The Forshaw’s large balconies are a key feature, with 80% of the apartments overlooking Lyle Park, and all are perfectly positioned to offer easy access into the park, which Riverscape is opening up for the 10,000 people already living in Royal Wharf, and neighbouring developments to enjoy.
Residents of The Forshaw will enjoy a host of premium facilities and amenities, including comfort cooling in apartments, a 24-hour concierge service, dedicated estate management team and a bespoke app for ‘lifestyle management’, direct access to an underground car park, as well as use of The Sky Lounge, a private space on the top of the Deanston building for co-working, relaxing and entertaining, with stunning views over the River Thames, Canary Wharf and beyond as a backdrop.
Automatic membership to The Clubhouse at Royal Wharf includes a 25m swimming pool, hydrotherapy pool, sauna, jacuzzi, and state-of-the-art gym, while the community is home to the onsite Royal Wharf Primary Academy school, the Nest day nursery, and Macaroni Penguin soft play and learning centre for little ones. As well as an active retail district, the high street at Royal Wharf includes a GP, dentist, pub, and regular farmers’ markets and community events.
Connectivity is second to none with key transport links on the doorstep, including two DLR stations (West Silvertown and Pontoon Dock) just moments away and the Elizabeth Line at Custom House accessible by a short walk. The award-winning Royal Wharf Pier provides enviable connectivity via water, serviced regularly by Uber Boat by Thames Clippers.
The Royal Docks has already established itself as London’s most ambitious regeneration area and its only Enterprise Zone, having recently welcomed the GLA’s new City Hall in the Crystal Building, alongside the arrival of the Elizabeth Line. The area will benefit from £8bn worth of investment by 2038, as well as 30,000 new homes, 41,500 new jobs and more than 7,000,000 sq ft of new commercial and leisure space.
JLL’s research also identified that Newham is one of the youngest boroughs with an average age of 32 (2021 Census), making it the seventh youngest local authority in England & Wales and the second youngest in London; 64.6% of residents are aged 34 years old and under. This is evidence of the influx of young buyers attracted to this area for its connectivity, lifestyle offering and investment opportunities.
James Boyce, Sales Director for Ballymore, comments: “The launch of the Forshaw provides the perfect opportunity for buyers to capitalise on the significant investment opportunity that the Royal Docks presents. We are not surprised to see that this community is one of the fastest-growing in the country, as more young people and families recognise the many lifestyle benefits of living in this area, with its waterside locations, connectivity, access to green space and village-like sense of community. We are pleased to play our part in the wider regeneration of the Royal Docks and welcome new residents to their home at The Forshaw.”
Having launched on 25th September 2021, Riverscape is the newest development in the heart of the Royal Docks and has been one of London’s fastest selling developments since the pandemic. The Forshaw has 1, 2 and 3 bedroom properties with prices starting at £445,000. For more information potential buyers can please contact JLL on Tel: +852 3759 0909 or email: firstname.lastname@example.org, or visit our website: https://internationalresidential.jll.com.hk/sale-development/riverscape/london-a0O1I00000DAJUFUA5
Riverscape The Forshaw Pop-up Gallery：
Date: 25th – 26th March 2023 (Sat – Sun)
Time: 11am – 7pm
Venue: (Opposite the Landmark) 20 – 20B Queen's Road Central, Hong Kong
JLL (NYSE: JLL) is a leading professional services firm that specializes in real estate and investment management. JLL shapes the future of real estate for a better world by using the most advanced technology to create rewarding opportunities, amazing spaces and sustainable real estate solutions for our clients, our people and our communities. JLL is a Fortune 500 company with annual revenue of $20.9 billion, operations in over 80 countries and a global workforce of more than 103,000 as of December 31, 2022. JLL is the brand name, and a registered trademark, of Jones Lang LaSalle Incorporated. For further information, visit jll.com.