Don't the buildings look really interesting? They certainly caught my attention! Hoola, Hoola! (reminds me of a song)
A closer look at the design - still rendered using a computer. However, it gives you a very good idea what the exterior of this Hoola building would look like. Really cool, I think.
Hoola Site
The site comprises 0.47 hectares and is a redundant island site containing a range of low rise buildings and a derelict pub adjacent to Silvertown Way flyover (A1020). Immediately north of the site is the National Grid power line, which runs east to west from Barking to Canning Town. North of this is the DLR line, beyond which are residential and commercial properties. East of the site is a pumping station and beyond this, there are new residential developments along Western Gateway ranging in height up to 19 storeys.
South of the site is the 'Landmark' site (previously owned by the LDA), which currently comprises open land a water sports centre for the adjacent Royal Victoria Doct. West of the site is the Silvertown Way flyover.
The site is located on Tidal Basin Road, which forms an access road to the Excel Exhibition Centre and Royal Victoria DLR station. Royal Victoria DLR station is 200 metres away whilst Canning Town London Underground station is 900 metres away. The Emirates Air Line Royal Docks Terminal is also located 250m away.
The site looks like this (Google Maps). That dis-used tavern has already been torn down. Hoola will be built on that plot.
Turning around, this is what you see. The structure on the right is the Emirates Cable Car.
The proposed Custom House Crossrail station is 750 metres away. If any property agent tells you otherwise (e.g. Crossrail is 1 minute away), let it be known that I have read some of the Planning Permission documents and all the information you see here is from source documents.
This map gives you a good idea of where the site is. See the yellow oval, marked with a yellow H, just to the west of Royal Victoria DLR.
Comprehensive Re-development
The proposals are for the comprehensive redevelopment of the site to provide a residential mixed use scheme comprising two towers of 23 and 25-storeys, what will include commercial floorspace at the ground floor level within the eastern tower building. The development proposes 360 residential units (16 studios, 196 one-bedroom units, 116 two-bedroom units, 32 three-bedroom units).
There is no affordable housing on this site as the developer will fulfil its affordable housing obligations off-site. Clever!
Comparison to Royal Wharf and Royal Dockside - This is Much Better Located!
I had blogged about Royal Wharf here and Royal Dockside here. Both of these developments are at best marginal, to me.
Now, this Hoola development has all the advantages of Royal Wharf and Royal Dockside (in terms of benefitting from the upcoming Asian Business Park) and most crucially it is much nearer to the new Crossrail.
I have walked that area before (in fact I probably walked right past this site) and it is very pleasant. See this blog post. A picture of the Emirates Cable Car below. (Emirates Royal Docks)
Pricing and Launch Date
No information on this yet. The Planning Permission was granted not too long ago. I heard that they will launch this in May. As for pricing, I expect them to price even more aggressively than Royal Wharf, given its better location. Stay tuned!
Consider Greenwich Peninsula (upcoming)
If you are interested in this area of London, do consider the many upcoming developments at Greenwich peninsula, near North Greenwich Tube Station. Check out this blog post for more information.
Move on to Part 2, for more screenshots and pricing.
Do share your views on our community forum on Hoola!
Important Disclaimer - . The views contained in this blog and blog post are entirely mine. We cannot be made responsible for any investment decisions you may, or may not, take. Nothing in this blog can be construed as professional investment advice, as we are NOT professional investors and we are ill qualified to give you any advice. Read the blog at YOUR own risk
Hi Mr Guitar, I noticed that most of the postings are on the East and South East of London. Is there a preference or these are the areas that have most potential growth?
ReplyDeleteYes, that is right. Much of the building activity is here too. However, if you find any developments in other areas, I'm happy to take a look.
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