Summary at-a- glance
The Jacquard, Whitechapel, E1
A stone’s throw from Crossrail
2 minutes from The City of London
3 minutes from Canary Wharf
20 storey state-of- the-art tower
10% deposit required to exchange contracts
Estimated 19.8% capital growth
Forecast pre-completion returns 99%
Completion Q4 2021
Special Sow & Reap 5% discount off listed prices
Location Location Location
2 minutes from the City; 3 minutes from Canary Wharf
When Crossrail opens in 2019, this development will be within 2 minutes travel time from The City of London and within 3 minutes of Canary Wharf. The Silk District Development is literally a block from Whitechapel station on Crossrail. Just a 200-metre walk!
Highly Beneficial Deal Structure
The development is due for completion in 3.5 years. Investors are required to deposit 10% to exchange contracts in 21 days from reservation. This means that every 5% in capital growth will deliver a gross return of 50%. Therefore, a 10% increase in prices will deliver a 100% return. No stamp duty is due until completion. Therefore, any contracts sold on before completion will incur no stamp duty to the original investor. This structure provides the investor with leverage without any interest payable, or the hassle of obtaining a mortgage.
To reserve your unit, £2,500 is payable to the developer now. 10% deposit minus the £2,500 is payable within 21 days. After 6 months, 5% is payable and then another 5% is payable in 18 months.
Completion is due Q4 2021.
This is 3.5 years away, providing every investor a unique opportunity to make a leveraged return forecast to be very significant indeed.
Major Capital Growth
The global property firm, JLL, forecast price growth of 19.8% between now and 2021. Assuming the full deposit of 20% has been paid, this would result in a gross return of 99%.
This is a stunning opportunity.
Massive Employment Growth; Chronic Under-Supply
500,000 people work in the City. Over the next 5 years, employment growth is forecast to surge 27%, that is 100,000 more workers. Only 7,400 live in the City. Meanwhile, Canary Wharf is set to grow as an employment hub from 205,000 to 234,000 between 2017 and 2026.
Given that these two high employment districts will be 2 minutes and 3 minutes in travel time from 2019, this means the Silk District Development is ideally situated to benefit from these dynamics.
And Rental Growth
JLL also forecast rental growth of 15.3% for those investors who wish to hold on for longer term returns. Very Competitive Prices Whitechapel, as an area, is set for a jump in prices as it catches up with its neighbouring areas. The table below illustrates the current price comparisons per square foot:
District Average £psf Difference %
Shoreditch £1,300 44%
Canary Wharf £1,300 44%
Aldgate & Wapping £1,400 56%
City of London £1,600 78%
As well as Crossrail and the employment growth, a £300 million regeneration project is being implemented to deliver on four promises:
Make Whitechapel a destination shopping area
7 stunning public squares and spaces
Upgrade of Whitechapel station
Top Developer, Top Specification
This project is the creation of well renowned developers Mount Anvil and L&Q, founded 27 years and over 50 years ago respectively. The specification is a suitably high specification and has been defined in detail.
What is Available?
This development at The Jacquard consists of just 130 units and over half of them have been sold in less than a fortnight.
And that is before the launch in China.
* Rental yields allow for forecast rental income growth when Crossrail opens This is a 20 floor tower, and the 16 th floor has not even been released yet.
Other Key Information
Address of the development – Raven Row, Whitechapel, London E1
Local Council – Tower Hamlets
Architect – Stockwool
Landscape Architect – Fabrik
Interior Design – Suna Interior Design
Developer – Mount Anvil & L&Q
Completion Date – Estimated Q4 2021
Tenure – 999 years leasehold
Building Insurance – 2 years fixtures & fittings plus 10 year NHBC
Service Charge – estimated £4.25psf
Total number of homes: 31 studios; 56 1-beds; 31 2-beds and 12 3-beds
Facilities: gym & spin room; cinema room; residents’ lounge & flexible workspace;landscape & rooftop gardens; 24-hour concierge
Estimated Return on Capital
The example below shows the estimated return on capital, for a buyer who deposits the full 20%. If the investor sells the unit on before the full 20% is due then returns could be higher if the capital growth is 19.8% or more. The return on capital is the profit plus the deposit, divided by the deposit This example excludes legal fees. The developer pays his own legal fees.
Call 0207 096 2068 to find out how to reserve your unit!