Home stretch for Oxley’s township project in London

Powerhouse developer Oxley Holdings has launched the third, and final, sales phase for Royal Wharf, its London development and its flagship overseas project. The Singapore-listed property developer is taking the ongoing “Brexit” turbulence in its stride, banking on the confidence in the project.
Royal Wharf is jointly developed by Oxley and British developer Ballymore. The waterfront development is a new township in Central London. It is located along a 500-metre stretch of the River Thames that is close to the financial district in Canary Wharf. The 4.24 million sq ft township comprises 3,385 apartments and townhouses. It also includes 118,403 sq ft of space for offices, as well as retail and F&B outlets.
Royal Wharf is located along a 500-metre stretch of the River Thames that is close to the financial district in Canary Wharf (Pictures: Oxley Holdings)
More than 90% of the residential units have been sold in two earlier sales phases. Since June last year, Oxley has launched about 441 residential units, in three blocks, as part of the final sales phase. Units from the last residential block are expected to be released for sale soon.
Apartments and townhouses
The latest sales phase comprises 453 sq ft studios, and one- to three-bedroom units of 551 sq ft to 1,159 sq ft. There are 207 residential units spread among an eight-storey block and a separate 12-storey block, while the remaining 234 units are within a collection of four linked seven-storey blocks. According to the developer, the average selling price starts from about £400 psf (about $704).
Other residential units in the township development include four-bedroom duplexes of 1,625 sq ft and four-bedroom townhouses of 2,444 sq ft. Some of these larger-sized units were part of earlier sales phases and are still available for sale.
An Oxley spokesman tells EdgeProp Singapore that “two-bedroom apartments have been very popular among buyers who are young professionals, while duplex apartments largely appeal to young families”. In general, buyers tend to be young local professionals who work in the Canary Wharf financial district and the City of London. But there are also some buyers from outside of London who want a riverside home, including those who downsize.
As at June last year, more than 1,500 units have been handed over to buyers