Bekerley Canada Water, 3 bed at 600k, worth buying or not?

Jackie_

Hi guys,

I just came to the UK with my family and literally have no idea where to start when buying a flat. The thing is, after browsing a lot of apartments around Canada Water and Canary Wharf on Zoopla, I found one that is surprisingly cheap. The developer of this three-bed flat is the famous Bekerley Group, which means 24 hours concierge and an onsite gym. The guide price is 630K but there is much room for negotiation - the vendor is willing to accept 600K. The post code is SE16 7EG, Navigation House, Marine Wharf, Canada Water, only 5 minutes walk to the Canada Water station and Surrey Quays Station. I am wondering when the average price of three bed in this area is over 700k, why is it sold so cheaply? Will there be any catch in this? Or can anyone tell me if properties by Bekerley are worth buying or not? Many thanks guys.

cloo

Presume you haven't visited it yet? It could be that the 3rd (or even 2nd and 3rd) bedrooms are barely large enough for a single bed, ie really it's a one or two bed flat with some big cupboards. Bedroom sizes beyond the first bedroom can be shocking in recent builds.

It looks like it's not the nearest place to the tube, they claim 5 mins walk, google maps say 12-18 minutes (although it can be pessimistic).

Bear in mind that you may have to pay heavy service charges for concierge, gym etc, so factor that in.

Aavertage prices may be pushed up by extra pricey high rise condos in the area, this looks like it may be a more 'bog standard' development, so it won't have the premium of a shiny glass tower.

Jackie_

cloo wrote: »

Presume you haven't visited it yet? It could be that the 3rd (or even 2nd and 3rd) bedrooms are barely large enough for a single bed, ie really it's a one or two bed flat with some big cupboards. Bedroom sizes beyond the first bedroom can be shocking in recent builds.

It looks like it's not the nearest place to the tube, they claim 5 mins walk, google maps say 12-18 minutes (although it can be pessimistic).

Bear in mind that you may have to pay heavy service charges for concierge, gym etc, so factor that in.

Aavertage prices may be pushed up by extra pricey high rise condos in the area, this looks like it may be a more 'bog standard' development, so it won't have the premium of a shiny glass tower.

Thank you very much cloo. You've got many good points here. I have visited the flat and found all three bedrooms quite spacious. Service charge is indeed one of my concerns, as this one is about £2000 a year.

fairy_lights

http://www.zoopla.co.uk/new-homes/details/37604837?search_identifier=c520c9071cfb9d595bd6c072848bae70#ewQhIcrYE6GkjYUq.97
Is this the one?

Out,_Vile_Jelly

Do you have to buy right now if you've only just arrived in the UK? Why not rent in London first and work out what you want in terms of space/transport/amenities etc. That area is pretty dead at weekends and might not be ideal.

Jackie_

Yes this is the one

Jackie_

Out,_Vile_Jelly wrote: »

Do you have to buy right now if you've only just arrived in the UK? Why not rent in London first and work out what you want in terms of space/transport/amenities etc. That area is pretty dead at weekends and might not be ideal.

Thanks. I arrived 6 months ago and am currently renting but my new born baby cries for larger space. That's why I started searching recently.

barbiedoll

Marine Wharf is situated just off of Plough Way in Surrey Quays. Plough Way is currently the site of major building works and there is little or no parking on the road. (I don't think there is much, if any, parking in this new development?) It is very dusty/dirty down there at present, there is lots of construction traffic including cranes, tipper lorries and the like. I always used to use Plough Way as a shortcut but it is very difficult to make a quick getaway down there at the moment!

The flats are very nice, I have visited several places in the new buildings. The area is "up and coming", lots of new developments are going on and I can't see the prices falling much in the future. The transport links are very good, you can get to Surrey Quays station on foot, in a few minutes. You can cut through the docks to walk to Canada Water station, you're looking at 10-15 mins walk though, and it's not much fun in the rain/wind.

I can't say whether or not Berkeley homes are any better/worse than any other housebuilder. As for paying 600K to live in Surrey Quays? (It's not Canada Water, no matter what the estate agent says!) I personally wouldn't but there are plenty of people who do, and who love living there. The waterside is lovely, it's close to central London and there are plenty of families living in the area.

I tend to agree with other posters though, definitely rent first!

Jackie_

barbiedoll wrote: »

Marine Wharf is situated just off of Plough Way in Surrey Quays. Plough Way is currently the site of major building works and there is little or no parking on the road. (I don't think there is much, if any, parking in this new development?) It is very dusty/dirty down there at present, there is lots of construction traffic including cranes, tipper lorries and the like. I always used to use Plough Way as a shortcut but it is very difficult to make a quick getaway down there at the moment!

The flats are very nice, I have visited several places in the new buildings. The area is "up and coming", lots of new developments are going on and I can't see the prices falling much in the future. The transport links are very good, you can get to Surrey Quays station on foot, in a few minutes. You can cut through the docks to walk to Canada Water station, you're looking at 10-15 mins walk though, and it's not much fun in the rain/wind.

I can't say whether or not Berkeley homes are any better/worse than any other housebuilder. As for paying 600K to live in Surrey Quays? (It's not Canada Water, no matter what the estate agent says!) I personally wouldn't but there are plenty of people who do, and who love living there. The waterside is lovely, it's close to central London and there are plenty of families living in the area.

I tend to agree with other posters though, definitely rent first!

That's a very helpful and detailed reply. Thanks very much. Will seriously consider renting for a bigger place then!

*Robin*

With a growing baby, wouldn't a less central house with a garden be a better long-term proposition than an upper storey flat?

Landofwood

Trust me, your newborn isn't crying for more space.