Roadblocks force HK stars to take MTR (subway)

During the massive street protests, many Hong Kong stars were forced to take their MTR system (underground subway). The stars shared their pictures on social media, and there were many positive comments on their subway experience.

Aaron Kwok said, "I haven't been on the subway for 10 years, it's so much faster than driving my own car."

Hong Kong has a very good subway system. They are so good that Hong Kong MTR has been selected to operate the new Crossrail Line in London, from 2018.

I think for big cities, we need to build up a very good network of public transport like subways and buses.  Then we can cut reliance on private cars.  Public transport is the way to go.

Thanks for reading.

Crossrail CEO Bullish on Crossrail

CrossRail CEO is understandably very bullish on CrossRail. I think he's right. Crossrail is going to make a significant difference, but just how big a difference?  According to the CEO, it will add a whopping US $71bn to the UK economy.

If the video is not working properly, you can go to the bloomberg page here:
http://www.bloomberg.com/video/crossrail-ceo-sees-71-bln-boost-to-u-k-economy-9qV~0cH6RkWfHV1dYm5QZQ.html

 

Crossrail Operator
Guess which rail company has been awarded the contract to run Crossrail?  SMRT?  Nopes.  It is Hong Kong's MTR!  Impressive.  See this news article.

Extract -
"Transport for London (TfL) has awarded the train operating contract for its Crossrail service to the Hong Kong based MTR Corporation (Crossrail) Limited (MTR). The deal is estimated to be worth £1.4 billion over eight years and there is an option for a two year extension in the deal. Mass Transit Railway (MTR) will operate the new Crossrail services between Reading, Heathrow and through London to Shenfield and Abbey Wood employing around 1,100 staff including up to 850 new jobs. MTR requires around 400 train drivers and will sponsor 50 apprenticeships for people from communities along the route.

"From 2019 when the full timetable is running, Crossrail will increase rail based transport in the capital by 10%. The intention is that it will also provide the best ‘passenger experience’ as it is now called, on European metro services achieving internationally recognised high standards of reliability, train frequency and customer service. Crossrail has been sponsored and funded by the Department for Transport and TfL and will become part of the latter’s extensive and intensively operated network. Crossrail’s stations will be integrated with London Underground, Docklands Light Railway, London Overground and National Rail stations."

happy investing!

How Crossrail is boosting buying activity in Woolwich, south-east London

Property: How Crossrail is boosting buying activity in Woolwich, south-east London Buyers are snapping up homes on the Crossrail route and Woolwich is one of the hot spots.

Take note: Woolwich Arsenal (Travelcard Zone 4)

Woolwich Arsenal

The arrival of Crossrail, which will stretch from Reading and Heathrow in the west to Shenfield and Abbey Wood in the east when it opens in 2018, is boosting house-buying activity along its route.

Research by estate agent Hampton’s International has found that one in ten London sales are now within a mile of a Crossrail station. And eyes are on Woolwich in particular: the south-east London district will benefit from some of the largest cuts in journey times.

Residents of SE18 will be able to get to Bond Street in just 21 minutes rather than the 36 minutes it takes now, and to Tottenham Court Road in 19 minutes rather than 37. Journeys to Heathrow will be practically halved to 47 minutes, which shaves 40 minutes off the current time.

This is proving very attractive to buyers, according to local agents. Felicity J Lord’s Mariel Roe says prices have risen by ten per cent since Christmas alone as supply struggles to keep up with demand – although she believes the increased interest is not entirely down to Crossrail.

‘Woolwich is attracting new business in its own right – it boasts the highest concentration of studio space for artists in Europe,’ she says. The town has long been perceived as one of the last affordable areas of London but is now set to become the ‘Shoreditch of the south’, Roe predicts.

As yet, there’s little evidence of a Shoreditch-style hipster invasion but the area is certainly on the up, thanks in part to the smart new developments that are transforming Woolwich’s grimier spots.

Berkeley Homes’s redevelopment of the Royal Arsenal site is one of the area’s longest-standing and biggest. When complete, in around ten years’ time, the scheme will hold 5,000 properties, with 450 new homes to be released this year. These include apartments in Cannon Square, right on top of the proposed Woolwich Crossrail station.

 Royal Arsenal Riverside prices have risen from £450 to £550 per square foot since last June. Kevin Lasitz and Jose Dias paid £485,000 for their three-bed apartment after being impressed by the development’s history. The ex-military site was established by Henry VIII and manufactured ammunitions during both World Wars. 

‘We were sold the moment we walked in,’ says Lasitz. ‘It has plenty of space and a wrap-around balcony with views of the Thames, Greenwich Heritage Centre and the Royal Artillery Museum from every floor-to-ceiling window. The opportunity to actually live in a brand new, state-of-the-art building that is nestled in a historic setting is, for us, magical.’

 The pair’s investment looks to be a smart move. Commercial property advisers CBRE predict Crossrail will add around 13 per cent to house prices along the line by 2018 but in Woolwich, where the average house price is £272,136, that increase is expected to reach 19 per cent. The area may traditionally have boasted some of London’s lowest property prices but that won’t be the case much longer, says investment specialist Stuart Law of Assetz.

‘Woolwich is beginning to draw in young professionals and families alike and is fast becoming a hot spot for investors,’ he adds

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Above article from Metro UK.

Video from Berkeley Homes

Royal Wharf Location 20 Minutes to Custom House

In recent times, we have observed claims with regard to transport links on London advertisements in our local papers that we have some issues with. Let us use this recent newspaper advertisement on Royal Wharf, by way of example.

The advertisers claim that the is "only 10 mins walk to Custom House, future Crossrail station." Yes, the future Crossrail station will be at or very near Custom House. That is confirmed. However, is the walk only 10 minutes?

Misleading Claim
In my other blog post on Royal Wharf here, I have shown you that Custom House is at least 1.5km away from the Royal House site. To cover 1.5km in 10 minutes, you need to run at 9km/h. What is the average walking speed? I would say 3 to 4 km/h, 5 - 6 km/h if you are walking briskly. Anything above 6km/h, you are jogging. At 9 km/h, you can complete your 2.4km in 16 minutes. (Speaking of which, when was the last time you ran 2.4km?)

Transport for London Journey Planner - www.tfl.gov.uk
This is a great place to share with all our readers a very important official resource when you are looking at London properties - the transport for London journey planner. This planner integrates all the public transport networks, including Tube, DLR, Trains, buses and even by foot.

See the following screenshots for Pontoon Dock to Custom House.

Journey via DLR takes 12 minutes.
Journey by foot takes 20 minutes!

Click on details for the DLR route. You need to change trains at Canning Town DLR. So, remember, it is not a through train from Pontoon Dock to Custom House.

Next, click for details on the foot journey. It clearly states the time to take 20 minutes, which is double what the ST newspaper advert informed readers. Click on the map details to see the exact walking route.

Conclusion - Caveat Emptor
Let the buyer beware! You would notice the adverts usually carry disclaimer clauses. In this advert, the small print says, "Whilst every care has been taken in preparing these particulars, the appointed agents and the respective vendors/landlords give no warranty, express or implied, as to the completeness or accuracy of the information contained herein."

We encourage interested readers to use the free official Transport for London journey planner to test out the other claims in the same advertisement, as well as other advertisements on London properties you see.

Is Royal Wharf 12 minutes to Canary Wharf? Is it a direct route?

is Royal Wharf 20 minute to Bond Street? Is it a direct route?

DLR Map (See where Pontoon Dock is?)

Royal Wharf London - Good Response to Oxley's London Launch, But How Good is The Location??

Royal Wharf London

It was reported in the Straits Times (21st March 2014) that "large crowds have flocked to the launch of Singapore listed Oxley Holdings first British Property."

This is the official website - http://www.londonroyalwharf.com/; many good details of the property are found on the website, so I leave the reading of those details to you.

Friends who attended the VVIP preview informed me that units were being snapped up like hot cakes, with entire blocks being sold out, even though prices were quite high. (ranging from 5XX pounds/psf to about 8XX pounds/psf)

The marketing collateral is extremely good.  I love the way they sell potential investors the promise of Canary Wharf prices (1,000 pounds/psf and above).  So, this place will be a great buy! 

Location, Location and Location
As the old saying goes, property is all about location.  Now, let us scrutinize the location of Royal Wharf.

This snapshot from Google Maps is very useful.  I have indicated the Royal Wharf site in red.  Is the location good?

Near DLR Pontoon Dock 

Docklands Light Railway

This development is a stone's throw away from the Pontoon Dock DLR.  However, look carefully at the London transport map. Understand that DLR, or the Docklands Light Rail, is a light rail system build to serve the Docklands area, including Canary Wharf. The network is limited, the capacity is not great.



How Convenient is DLR Pontoon Dock? 
Not very.  Pontoon Dock is pretty much on the outskirts of the DLR network.  The Transport for London website has very useful journey planners.  Using this, I got the following times:

a. Pontoon Dock to Canary Wharf - 10 to 12 minutes with one change at Canning Town Underground

b. Pontoon Dock to Tower Hill - 25 minutes, a number of changes

b. Pontoon Dock to Oxford Circus - 32 minutes, one change at Bank Undeground.

This pdf gives you the timetable information of the DLR from Pontoon Dock. I think there is no direct DLR to Canary Wharf.  You have to change.

Near Future Crossrail Station?  Not quite! 
I take issue with the marketing collateral on this point.  The marketing people will give you the impression that this development is near the future Crossrail Station.  One agent said it would be a "10 to 15 minute walk."

Coming online, 2018!

How near is near?  Look at the map above.  The future Crossrail (2018) station's position is already confirmed, and it would be located very near Custom House.  The Crossrail stop for Custom House is to serve the London Excel area.

Crossrail Route Map - http://www.crossrail.co.uk/route/maps/

1.5KM to Crossrail Station, from Royal Wharf
The walking distance from the Royal Wharf Site to the future Crossrail station is about 1.5km or 1,500 meters.  I leave it to the reader to decide whether a 1.5km distance to the nearest Crossrail station is a plus point for this property.  Take note, it takes 20 minutes to walk from Royal Wharf to Custom House.

Takes 20 minutes on foot to get here, from Royal Wharf

Noise From London City Airport? 

The site is very near London City Airport, which raises the issue of noise from aircraft operating from this Airport.  I have created an entire blog post on this issue. 

London City Airport serves more than 3Mil passengers per year.

Conclusion
In our opinion, and strictly our opinion, we do not think that the Royal Wharf development is in a good location.  It does not mean that it is a bad development. On the contrary, the plans look to be very impressive.

Do take note that the major public transport links like DLR and Crossrail will not change, at least for the next 30 years.  Further, London City Airport is not about to move. In fact, there are proposals to expand the Airport, however, these are under consultation.

Do check out my blog post on my walk at the Custom Excel area to give you a sense of how sprawling that area is.

Happy Investing!

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DLR IS NOT THE FAMOUS LONDON TUBE! 

Mind the gap!