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250 City Road Changes in the City continue
Designed by the world-renowned architects, Foster + Partners, 250 City Road will create a new landmark for London. Situated in a prime location between Angel and Old Street, 250 City Road is within walking distance of the City of London’s financial district, Tech City and the vibrant bars, restaurants and nightlife of Shoreditch. With the delights of Upper Street, Old Street and Silicon Roundabout less than a ten minute walk away, this is the perfect destination to work and relax. The scheme itself will offer a host of world class facilities including vibrant new cafes and restaurants, two acres of wi-fi enabled green spaces, public art and exceptional office and studio space for start-ups as well as a 4* nhow hotel. With stunning views in every direction, 250 City Road rises above its surroundings to bring this global city to your door.
250 City Road London EC1
2–3
Amenities An increasingly alluring trait of new build apartments is the amenities they come with. A CBRE survey recently found the convenience of having on site amenities, such as a pool and gym, was highly desired. The most popular amenities are a concierge and a gym, with both being used by well over 80% of residents. What’s more, 69% who didn’t have a pool wished they did!
250 City Road has taken all of this on board and will offer a range of amenities including:
– Luxurious 20-metre pool – Spa with jacuzzi, sauna and steam room
– Gym and rooftop fitness terrace – Residents’ lounge – 24 hour concierge service – Just under two acres of beautifully landscaped public realm
– All apartments benefit from either winter gardens, balconies or terraces
– Public art – Wi-fi enabled communal areas – 3 floors of Grade A office space and studio office space for tech start-ups
– 190 bedroom 4* nhow hotel – 40,000 sq ft of retail space – Restaurants and cafés
250 City RoadCity changes continue
Tube and rail
Angel Station 7 mins 14 mins 4 mins
Old Street Station 3 mins 16 mins 4 mins
King’s Cross St. Pancras 12 mins 2 mins 9 mins
Liverpool Street 9 mins 10 mins 13 mins
London Bridge 15 mins 7 mins 20 mins
Waterloo 18 mins 15 mins 19 mins
Paddington 33 mins 21 mins 29 mins
Airports
City 32 mins 48 mins
Heathrow 50 mins 55 mins
Gatwick 56 mins 90 mins
Shopping and Entertainment
Covent Garden 17 mins 10 mins 20 mins
Oxford Street 20 mins 12 mins 22 mins
Westfield Stratford 24 mins 23 mins 29 mins
Harrods 29 mins 17 mins 33 mins
Royal Albert Hall 33 mins 20 mins 35 mins
Westfield Shepherd’s Bush 46 mins 28 mins 29 mins
Study
City University 4 mins 11 mins 3 mins
Guildhall School of Music 7 mins 16 mins 5 mins
School of Oriental and African Studies 15 mins 20 mins 12 mins
University College 17 mins 17 mins 13 mins
London School of Economics 11 mins 23 mins 15 mins
King’s College 16 mins 21 mins 19 mins
Imperial College 34 mins 34 mins 33 mins
City Road overview
City Road was historically one of the major entry points to the City of London. It links the heart of London’s financial and commerce economy with the leafy borough of Islington. Following significant regeneration of the local areas, including Spitalfields and Shoreditch, City Road is now at the centre of London’s best restaurants and nightspots as well as one of the UK’s largest tech districts.
Centrally located in Zone 1, City Road is ideally placed for both work and leisure. At the northern end of City Road lies Angel Islington, one of the most restaurant-dense areas in the capital. Also known for its cinemas, theatres and music venues, Islington has plenty to offer. At the southern end of City Road, you will find Shoreditch, famous for its street art, pop-up galleries and fashion outlets. Characterised by its café culture, buzzing night life and ever-growing food scene, Shoreditch is a truly unique place in London.
Right on the doorstep of City Road, Regent’s Canal offers a break from city life. Scattered with cafés, this picturesque stretch of waterway is a true gem of central London; perfect for a stroll next to the canal boats or to soak up the architecture of old industrial London.
Drawing on the popularity of both Islington and Shoreditch, City Road is now emerging as a destination in its own right. The area has undergone a huge transformation in recent years, attracting a significant amount of new development. Among its former warehouses, you’ll now find an irresistible mix of Michelin-starred restaurants, street-food outlets, designer boutiques, art galleries and trendy bars. Adjacent to Shoreditch is the rejuvenated district of Spitalfields. Its eponymous market has been completely redeveloped and now includes two new public spaces, an arts and events programme and the restoration of several historic streets.
Located a short distance from The City, the historical financial and commercial heart of London, City Road borders Tech City, the epicentre of the UK’s booming tech industry. Launched in 2010 the area has grown from hosting a few fledging technology start-ups to now accommodating the largest concentration of technology companies in the UK.
City Road benefits from excellent transport links. Within a few minutes of 250 City Road are Old Street and Angel Underground Stations which put the whole of London within easy reach.
City Road will also benefit greatly from the opening of The Elizabeth Line (Crossrail) at nearby Farringdon station. When it launches in 2019, The Elizabeth Line will significantly cut travel times to many parts of London. For example, a journey to the West End will take just four minutes, while Canary Wharf will be reached in eight minutes. Journeys to Heathrow will be cut to just half an hour. As well as The Elizabeth Line, the area’s connectivity will benefit from the ongoing improvements to the Northern Line. In addition, the Old Street roundabout area is set to receive a major face lift. The current roundabout will be transformed into a pedestrian and bike friendly zone, with the new station entrance located in its centre.
At the centre of City Road is Berkeley’s city flagship development: 250 City Road. Designed by world renowned architects, 250 City Road is set to further transform City Road. Offering world class facilities, including new cafes, restaurants and a 4 star hotel, 250 City Road is now in Phase 2. When the scheme completes, two acres of wi-fi enabled parks will make this a destination to work and relax, taking advantage of some of the city’s best transport facilities.
Walking Public Transport Driving
Travel times
6–7250 City RoadCity changes continue
London lifestyle
London is the only city in the world to
have hosted the Summer Olympics
three times
4 World-heritage sites, more than any
other city in western Europe
3 of the top10 most visited museums in the
world are in London
Kew Gardens
Royal Observatory Greenwich
Tower of London
Palace of Westminster
22mTheatre visits per year
71Michelin star restaurants
520Hotels
761Gyms
241Professional theatres
200Museums and galleries
5,000Hair salons
9,224Cafes and restaurants
One of the world’s ‘greenest’ cities for its size
8Large royal parks
40%Total open green space.
More than NYC, Berlin, Paris and Amsterdam
The City, London’s most historic district, has been dramatically transformed in recent years. Once only a place of work, residential development is now actively encouraged. This has brought with it cool new bars and restaurants, boutique fitness studios and pop-ups. This new chapter for the City means that as well as being London’s business centre, it is now also a place where people come to relax and have fun.
The City of London also neighbours Tech City, which has evolved into the epicentre of the UK’s booming tech industry. Launched in 2010 the area has grown from hosting a few fledging technology start-ups to now accommodating the largest concentration of technology companies in the UK. This concentration of young creatives and professionals has created a buzzing social scene.
The City of London also sits on the doorstep of Shoreditch. This previously deprived area is now one of London’s most fashionable neighbourhoods. Among its former warehouses, you’ll now find an irresistible mix of Michelin-starred restaurants, street-food outlets, designer boutiques, art galleries and trendy bars. Adjacent to Shoreditch is the rejuvenated district of Spitalfields. Its eponymous market has been completely redeveloped and now includes two new public spaces, an arts and events programme and the restoration of several historic streets. Within the market are some well-known restaurant chains as well as independent outlets, and the traditional stalls are accompanied by fashionable boutiques and high-street names.
Once just a place of work, The City has been transformed into a place to live and play. The well established social scene includes over 400 retail outlets and 800 restaurants.
City lifestyle
Number of shops
868Number of restaurants
and cafés
414Share of London
office space
20%‘Outstanding’
primary school
1
8–9250 City RoadCity changes continue
City leisure
Shopping
‘When a man is tired of London, he is tired of life, for there is in London all that life can afford’. So said Samuel Johnson in 1777, and it is no less true today. From the boutiques and department stores of Oxford Street, Regent Street, Bond Street and Knightsbridge to the shopping malls at Stratford and Westfield, it can be argued that if something cannot be found in a London shop, it doesn’t exist. 17 minutes drive from City Road is Harrods, one of the world’s most famous department stores, which is visited by over 300,000 people a day. Less than 30 minutes away is Westfield Shepherd’s Bush, the largest shopping centre in Europe.
Education
London boasts over 50 universities including some of the best undergraduate and research universities in the world. From 250 City Road, London’s universities are within easy reach. King’s College and London School of Economics (LSE), both of which are amongst the top universities in the world are located within 20 minutes travel of 250 City Road, while City University and Guildhall School of Music are less than 10 minutes cycle. London’s universities have a reputation for excellent graduate outcomes, and LSE was rated as the best universities in the UK for graduate earnings.
Culture
London is home to many of the world’s best museums and galleries. The British Museum, Tate Modern, National Gallery and Natural History Museum are amongst the most visited institutions in the world. It is also home to some lesser known, but equally wonderful places to visit. Within a short walk of 250 City Road, for instance, is the Victoria Miro Gallery, a contemporary art gallery run by one of BritArt’s most influential dealers. To the south of 250 City Road is the Museum of London, telling the story of the city from prehistoric times to the present. To the East is the Whitechapel Gallery, which has hosted exhibitions by some of contemporary art’s most famous artists including Lucian Freud, David Hockney and Jackson Pollock.
Theatre
Over 15 million people a year attend the theatre in London, and London’s West End – along with New York’s Broadway – are considered to be the pinnacle of the world of commercial theatre. From the National Theatre and County Hall in South London and Palace and Cambridge Theatre in the West to the Almeida Theatre and O2 Academy in the north and west, London has a diverse and exciting music and theatre scene. Close to 250 City Road are the O2 Islington and the Sadler’s Wells Theatre. The O2 is a live music venue hosting rock and pop music, while Sadler’s Wells Theatre, the world’s No.1 venue dedicated to international dance - presenting dance in all forms from contemporary to flamenco, ballet to hip hop.
Drinking and dining
London is one of the wold’s great multicultural cities, noted not just for the wide range of cuisines but also the sheer number of award winning restaurants and bars. London boasts 71 Michelin starred restaurants, and of these, nine are located within a mile of 250 City Road. Some of these are situated in the Clerkenwell area, home to the historic Smithfield Markets while others, such as City Social, are located in the skyscrapers of the City.
The development of Shoreditch has made it an exciting district for nightlife, and between the historical pubs nightclubs and themed cafes, there is a drinking venue for every occasion.
Almeida Theatre
Central St Martins
The British Library
King’s Cross Station
Euston Station
Wellcome Collection
The Regent’s Park
Paddington Station
Selfridges
Oxford Circus
Liberty London
Queen’s Theatre
The Shaftsbury Theatre
Sir John Soane’s Museum
Charles Dickens Museum
Liverpool Street Station
Farringdon Station
Spitalfields Market
Brick Lane Market
Museum of London
City University of London
SOAS University of London
Sadler’s Wells Theatre
Angel Station
Geffrye Museum of the Home
Columbia Road Flower Market
V&A Museum of Childhood
Queen Mary University of
London
O2 Academy Islington
Guildhall
Barbican Centre
Lincoln’s Inn Fields
The British Museum
Palace Theatre Cambridge
Theatre
Seven Dials
National Gallery
London School of Economics and Political Science
C I T Y R O A D
Leroy
St John
Angler
BratLyle’s
Galvin La Chapelle
City Social
Club Gascon
The Clove Club
The Lexington
The Charles Lamb Pub
Earl of Essex
The Wenlock Arms
London Cocktail Club
Fix Coffee
Flight Club
McQueen
Ozone Coffee Roasters
Shoreditch Grind
NightjarGolden Bee
Callooh Callay
Queen of Hoxton
The Old Blue Last
Ninetyeight Bar / Gallery Extreme
Old Street Records
The Gibson
Look mum no hands!The
Slaughtered Lamb
The Old Queens Head
250 City Road
10–11250 City RoadCity changes continue
City working
The City is one of London’s prime business hubs. It accommodates traditional companies across the financial services, accounting and insurance sectors but now also hosts numerous creative and tech companies. City Road is perfectly positioned on the border of the City and benefits from being located just a short walk from the heart of this business district. Over the past decade the core office market has expanded into the City’s border area into districts like Clerkenwell, Shoreditch and Old Street. New grade A office space has sprung up in these markets, replacing the older stock and attracting numerous high profile companies. As a result, these areas are now considered part of the core office markets in London.
Over the last few years the City and border markets have also benefitted from an eastward migration of companies from the West End. In 2016 an estimated 500,000 sq ft of office space left the West End market and moved to the City. Perhaps one of the main contributors to growth in both the City and its surrounds has been the exponential rise of the technology sector. The area now hosts more than 10,000 technology businesses that employ 70,000 people and generate over £12bn of annual revenues.
The rise of the sector began from its epicentre at Old Street in Shoreditch, with a cluster of emerging technology companies at Old Street roundabout. This has now expanded with more than 3,200 tech companies per square kilometre now concentrated in the area, which is now known as Tech City and often referred to as Silicon roundabout. This spread has led to the emergence of new clusters of digital and tech companies in areas including Clerkenwell, Angel and King’s Cross. This is resulting in a further influx of workers and residents to the City and its border neighbourhoods. The now established market in the City border will continue to attract companies, bringing further influxes of workers and residents to the area. This will be combined with the continued expansion of the City, where an additional 50,000 workers are forecast over the next decade. This will all translate into persistently strong demand for homes in the City and surrounding areas.
The City, or Square Mile, is the epicentre of London business. It currently hosts over 400,000 workers with a further 50,000 expected over the next decade.
Percentage of UK financial services GDP generated in London
50%
Largest forex market share by turnover in the world
41%
250 City Road: At the heart of it all250 City Road, EC1
Norton Rose Fulbright
Ernst & Young
Hitachi Consulting
PWC
Aon Hewitt
Lloyd’s of London
Bank of England
BT
Unilever
London Stock Exchange
Expedia
Global tech company
Bloomberg
Global tech company
Global tech company
J.P. Morgan
Clifford Chance
Citibank
HSBC
Barclays Bank
Adobe
Business Design Centre
Capco
Cisco
Farfetch
Go Cardless Wayfair
Grey
Inmarsat
Intermusica
Karmarama
Lastminute.com
Nasdaq
Techhub London
The Unseen
Ticketmaster
Wipro Digital
1
15
12
13
14
6
7
11
10
9
8
2
3
4
5
16
17
18
19
20
21 31
22 32
33
28
Silicon Roundabout
– Office take up increased by 48% since 2009
– Home to more than 10,000 technology businesses
– Employing more than 70,000 people
– Generating £12.5bn of revenue
The City
– Employs over 400,000 people
– Employment forecast to grow by 50,000 people by 2026
– Ranked the world’s No 1 global financial centre
– Home to more than 18,000 businesses
– Contributing an estimated £45bn (GVA) to the UK’s national income
Canary Wharf
– In excess of 105,000 people work at Canary Wharf
– 14 million sq ft of office and retail space
– Headquarters to numerous major banks and media companies
– When complete Canary Wharf will be one of the largest Crossrail stations
– Nearby City Airport serves approximately 10,000 customers daily and connects to over 50 destinations
More London
– 13.5 acres located on the River Thames adjacent to City Hall and Tower Bridge
– A mixed-use business district and a recognised art and performance destination
– Close to London Bridge Station (Main trainlines and Underground)
Silicon Roundabout
The City
More London
Canary Wharf
23 4
13
12
23
30 35
3726
29 24
13
2736
14
15
1
10
1632
31
119
8
33
67
21
181719 20
5
28
23
24
25
26
29
30
27
35
34
36
37
2522
12–13250 City RoadCity changes continue
City living
House price uplift from regeneration
4.7% pa Price premium for a scheme with effective placemaking
10%
Whatever form it takes regeneration works to greatly improve the quality of life for its residents and transforms a place into a more desirable place to live. And our research shows this can have a marked impact on property prices, with prices in regeneration zones increasing by 4.7% per annum over and above wider house price growth.
Connectivity is important for regeneration. Whilst already well connected, 250 City Road will benefit from ongoing improvement works on the Hammersmith & City and Circle and District lines, which will enhance public transport services, through faster, more frequent and more reliable trains. Following the upgrade, there will be significant improvements with up to 32 trains per hour and an increase in passenger capacity of 33%.
From the famous transformations of Covent Garden, Southbank and King’s Cross, regeneration has always been an important part of the ever-evolving London landscape. The regeneration of the City fringe is no different and has completely rejuvenated the area.
Regeneration premium
Placemaking is also important in ensuring that the maximum benefit occurs from regeneration and large scale residential developments. This multi-faceted approach to design brings all elements of a development together in a cohesive and diverse environment. Placemaking ensures an area has the appropriate amount and type of residential, retail, education, leisure, work space, restaurants, open space, transport, exhibition and community space. Effective placemaking clearly benefits an area and this impacts property prices.
Placemaking schemes have been shown to trigger an uplift in value. Research led by CBRE, in collaboration with the Royal Institution of Chartered Surveyors (RICS), found that placemaking creates a price premium of at least 10%. Further, as the development matures, its reputation grows and a sense of identity is created resulting in this premium increasing substantially over time. This will translate into strong capital appreciation over and above the local area.
Following its regeneration, the local area has become an increasingly attractive place to live. Very much in demand by the traditional city workforce - employees in the city finance, insurance and commerce sectors – who want to live near to their place of work. The growth in London’s technology sector has also provided a new cohort of residents. The influx of an increasingly young workforce to the city has bought with it a unique culture derived from a multicultural and creative demographic.
The growth in London’s technology sector, as well as targeted placemaking and regeneration schemes has made these areas increasingly attractive workers in the tech and start-up sectors, as well as to the traditional city workforce – employees in the city finance, insurance and commerce sectors. The influx of an increasingly young workforce to the city has bought with it a unique culture derived from a multicultural and creative demographic.
These areas, however retain much of their original character. Shoreditch and Hackney have long been the haunt of artists, students and innovators, and this can be seen in the colourful and distinct independent shops, restaurants and cafes.
The regeneration and subsequent increase in popularity of the City Road area has had upward pressure on the price of property. Since 2009 house prices in the area have increased by 87%. This is higher than growth in both the borough (Islington) 71% and wider London (also 71%). In spite of this growth, property in the area remains relatively affordable when compared with other prime locations.
The population surrounding 250 City road is becoming increasingly affluent, with 46% of households earning over £50,000 and 29% of the private rental households earn over £100,000. This compares favourably with the Hackney and Islington areas, where 8% and 16% of private rental households earn over this amount.
Both Hackney, Islington and the City Road area are attractive markets for renters. Around 250 City Road, 44% of households are private renters, compared with 39% and 30% in Hackney and Islington respectively.
The regeneration of the City Fringe has bought with it new amenities. These include some of the city’s most sought after restaurants and bars, making properties in this area highly sought over for both home owners and renters. Despite the resulting surge in popularity for property in the area, and corresponding price rises, homes still remain affordable in comparison to other prime areas of inner London.
2018 Average House Price and growth since 2009: City Road and surrounding areas
(LHS) 2018 average house price 2018 average apartment price only (RHS) Growth since 2009
£1,200,000 120%
£1,000,000 100%
£800,000 80%
£600,000 60%
£400,000 40%
£200,000 20%
0 0
Southwark HackneyTower Hamlets City RoadIslington City of London
14–15250 City RoadCity changes continue
Robust economy
Population increase
Low interest rates
World class education
Strong legal structure, asset protection and multi-cultural society
London as a ‘safe haven’
Why buy London?
Favourable exchange
rates
The Elizabeth Line (Crossrail) is forecast to drive growth by 3.3% per annum over
and above underlying house price growth during its build
Ease of access to four main airports in close proximity
Centrally located between Asia and
North America
Undersupply of quality new homes
Favourable timezone
London is a leading technology and research centre
London population set to increaseto 10 million by 2031, that’s 1.4 million
more people in the next 15 years
More than
400,000 employees work in the The
City of London. The world’s leading financial district
52,000homes are required per
annum in London. Only 24,800 were built in 2016
1.5 billion English speakers in the world
250 City RoadCity changes continue
History
The Berkeley Group was established in 1976, with the founding of Berkeley Homes in Weybridge, Surrey. It initially focused on the construction of single homes and executive developments. In its first year four homes were constructed, all of which were sold off-plan, giving the company a turnover of £121,000 and a profit of £21,000.
From the outset Berkeley maintained a detailed focus on every development and established disciplined procedures to enable both the construction and marketing of sites to start as early as possible in the development cycle, thus maximising return on capital and minimising marketing risk.
Berkeley rapidly became renowned for the quality of its product and for its ability to match product to demand. Consequently the business grew rapidly. In December 1985 Berkeley gained a full listing on the London Stock Exchange. In less than ten years of operation Berkeley had grown from an entrepreneurial business capitalised at £50,000 to a fully listed group valued at over £67m.
Awards
Berkeley are a multi award winning developer. Recent accolades include:
– The Queen’s Award for Enterprise and Sustainable Development in 2014 and 2008
– The UK Customer Satisfaction Award, 2016
– Multiple awards for Housebuilder of the Year, including ‘WhatHouse?’ and ‘The Building Magazine’ in 2017, The Sunday Times ‘British Home Awards’ in 2016, ‘Large Developer of the Year (RESI)’, and ‘The Building Awards’ in 2015.
– Berkeley Group named ‘Best Property Company - Residential’, EG Awards, 2014
– NextGeneration Benchmark for sustainability
– Property firm of the year 2014 at City AM awards, 2014
Premium uplift
Reflecting the quality, Berkeley properties often achieve a premium over the local market value. However, more importantly for an investor our research shows that the resale price of Berkeley schemes tends to grow faster than properties in the immediate vicinity.
Focusing on London over the last decade, Berkeley properties have grown by an annual average of 13.8%. This compares with the local area average of 8.8%. Thus, each year Berkeley properties are outperforming the wider market by around 5%. Schemes that have performed particularly well include Marine Wharf West, Royal Arsenal and Kidbrooke Village.
Did you know…?
– Berkeley have built 19,000 homes in the last five years. It is currently developing around 50 schemes with 20 upcoming.
– With a net promoter score of 74, Berkeley has the best customer service rating in the sector.
– In 2017, was rated Britain’s second most admired company in the Management Today Magazine.
– Since 2011, the Berkeley Foundation has committed £12.9m to more than 100 charities.
– Berkeley Group is creating 519 acres of public realm and planting 9500 trees.
– Berkeley Group’s share price has increased by 76% over 5 years.
From the quality of the apartments to the exceptional places that surround them, Berkeley offers more than just homes. Leading the way in constructing new places, neighbourhoods and communities, Berkeley are committed to quality placemaking and sustainability. Ever evolving, you can be sure that your Berkeley home has been built to the highest standards and designed for life.
Why buy Berkeley?
18–19250 City RoadCity changes continue
Jennet Siebrits Head of Residential Research +44 20 7182 2066 [email protected]
David Chapman Analyst +4420 7182 8047 [email protected]
Ed Hollest Sales Director +44 20 7182 2557 [email protected]
Amy Meyrick Associate Director +44 20 7182 2478 [email protected]
CBRE Limited confirms that information contained herein, including projections, has been obtained from sources believed to be reliable. While we do not doubt their accuracy, we have not verified them and make no guarantee, warranty or representation about them. It is your responsibility to confirm independently their accuracy and completeness. This information is presented exclusively for use by CBRE clients and professionals and all rights to the material are reserved and cannot be reproduced without prior written permission of CBRE. Images provided are computer generated and for illustrative purposes only. All travel times taken from TFL. © 2019 CBRE Ltd.
CBRE, Experian, Molior, ONS, TFL, Land Registry
Disclaimer 2019 CBRE
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