Construction of the much-anticipated phase two of Wapping Wharf is reaching its final stages with over 55% of the new homes now sold (subject to contract).
In total, over 90 of the 163 one, two and three-bedroom private sale apartments in this award-winning harbourside neighbourhood – known for its eclectic mix of independent restaurants, cafes and shops – have now been bought off-plan well ahead of completion.
Over a fifth of the sales so far have been through Help to Buy, the equity loan scheme, which allows people to buy a new home with just a 5% deposit, while the Government lends up to 20% of the value of the property.
Phase two of Wapping Wharf Living, the name given to the private sale homes, is now coming into its final stages of construction. The internal fit-out of the apartments is now well under way and the focus now turning to external works including the paving, installation of the balconies and the reinstatement of the original gaol wall.
Pauline Sangster, senior residential sales and marketing manager at Wapping Wharf Living, said: “We are seeing a whole range of buyers interested in Wapping Wharf, from young professionals and downsizers to those looking to upsize from smaller homes.
“With the Government recently announcing a stamp duty holiday for properties up to £500,000, we have certainly seen a spike in interest over the last couple of months from people keen to take advantage of this window.”
The stamp duty holiday is subject to Government restrictions and applies to purchases that complete prior to 31st March 2021.
Vicky Dudbridge, sales director at Savills, which is marketing the apartments alongside Atwell Martin, said: “Research from Rightmove shows that people’s home moving priorities have changed. ‘Must haves’ that have risen up the ‘tick list’ include a better homeworking space, green spaces nearby, internet connection and access to parking.
“Wapping Wharf Living is well placed to meet these needs as it’s offering apartments with multiple bedrooms, one of which could easily be used as a study, with many homes featuring balconies or terraces, not to mention the fact that the harbourside is right on their doorstep. Some of the homes come with parking too – a rarity in Bristol!”
Wapping Wharf was recently highlighted in the Sunday Times’ Best Places to Live supplement, which named Bristol harbourside as one of the best places to live in the UK, with Wapping Wharf named ‘best address’.
The Wapping Wharf Living show home, which is housed in shipping containers at Wapping Wharf’s popular hub, CARGO, is open strictly by appointment only, with the opportunity for virtual appointments if preferred. Known for its eclectic array of independent shops, restaurants and cafes, CARGO has become an integral part of the city’s food and drink scene over the last few years.
Wapping Wharf is right in the heart of the city. Located next to Bristol’s glistening harbour and M-Shed with the Arnolfini, Watershed and Bristol Old Vic all within walking distance, it is part of Bristol’s cultural and leisure hub. Many apartments have balconies overlooking the new street scenes or internal garden courtyards, with many of the top-floor apartments featuring terraces.
The aim at Wapping Wharf is to create a mixed community of people from different walks and stages of life, so across the whole development, homes are being offered on a range of tenures, including open market sale and rent, shared ownership, as well as affordable and social rent. In the current phase of construction, there are 256 homes in total: 163 for open market sale, 49 shared ownership and 44 for private rent.
Wapping Wharf Living is being developed by Umberslade and national urban regenerator, Muse Developments in a joint venture.
Prices for a one-bedroom apartment start from £257,500; a two-bedroom apartment from £362,500; and a three-bedroom apartment from £550,000.