Last Updated on January 4, 2021 by CanaryDevelopmentAdmin
8 Water Street
13-storeys — Wood Wharf
Vertus is the Canary Wharf groups rental arm specialising in build to rent (BTR) properties. These are exceptionally high-spec properties, interior designed to the same standards you would expect from the ultra-luxury new developments across the Canary Wharf area.
There are currently three properties planned, located across the Canary Wharf estate.
8 Water Street design and development
The building is a sleek 13-storey low-rise designed by Stanton Williams.
In contrast to the high rise developments that surround it, the 175,000sq/ft 8 Water Street has been designed to be figuratively and literally more grounded — bringing it closer with the water that surrounds it.
The 13 storeys here are symmetrical with the 13-storey podium of 10 Park Drive, and these two connected buildings serve to shield a “hidden” residents only garden the forms the backbone of the communal space of 8 Water Street.
Construction started in 2016 with an estimated completion date of 2019, slight delays in the Wood Wharf construction process held it up until its opening in mid-2020.
As a result — while originally intended to be the first of Vertus’s properties available — it was slightly eclipsed by the opening of 10 George street in early 2020.
What are the differences between Vertus’s buildings?
With three properties shortly about to be available Vertus are clearly trying to capture all aspects of the ultra-premium rental market — and as a result offer some significant differences between their offerings.
Here are 8 Water Street the theme deviates from the high-rise fast-living lifestyle offered at 10 George Street and Newfoundland, favouring a more tranquil and low-key luxury.
In house boxing style fitness centres and panoramic views across London have been replaced here with dockside views, communal gardens and man’s best friend!
Three key features of 8 Water Street
As well as competing with the groups own build to rent portfolio, 8 Water Street will also be competing against the other BTR offerings in the area — such as Greystar’s Sailmakers and The Collective Canary Wharf.
Here’s 3 key features to set 8 Water Street apart:
01. Accessible — Wood Wharf location
Probably the most accessible building on the whole of Wood Wharf — 8 Water Street is located immediately across from the linking bridge from Canary Wharf.
Public transport access is about as quick as you can get — a few hundred feet from the nearest Jubilee line station entrance, and around a 5-minute walk to Canary Wharf’s DLR station.
While Wood Wharf and 8 Water Street’s immediate surroundings are a fledgling area at the moment, its neighbours are gradually opening and the area will only continue to develop.
The building itself is going to house a café on the ground floor, and the water it currently overlooks to the north is shortly to be transformed into one of the best-looking features of the estate with the advent of floating boardwalks and restaurants opposite.
02. Vertus first pet friendly development
Of the three BTR buildings planned — 8 Water Street is the first and only to be pet-friendly.
“We expect to see a strong demand for these apartments as there are very few properties of this quality available on the rental market, which also have the option of keeping pets.”Alastair Mullens, Head of Vertus
When looking at Sailmakers — the only other pet-friendly BTR development in the local area — it was noted that while 45% of the population in 2017 owned a pet only 7% of landlords currently advertise homes as suitable for pets.
Later research backs this up and in 2020 HomeViews put the figure at approximately 41% of UK homes owning a pet. It is also though that with increasing time spent at home, COVID-19 is accelerating the demand for rental properties that are pet friendly.
03. Rare to find flats to rent with as much outdoor space
While well-equipped at nearly 3000 square feet for only 174 apartments — there isn’t quite the sheer volume of amenities as the larger build to rent developments provide.
However, 8 Water Street benefits from significantly more outdoor space:
- The buildings communal roof terrace is the largest outdoor space of the three planned Vertus group properties
- There are secluded shared gardens with 10 Park Drive next door
- The majority of apartments have decent-sized balconies
- The building has excellence connections to the boardwalk and Wood Wharfs growing collection of waterside walks
The roof terrace is particularly special — recently completed and designed by the Accouter Group. Here softer wood decking complements the natural stone theme, and a significant investment has been made into making the expansive space feel peaceful among the hustle and bustle of the city.
Large quantities of planting have served to make the place interesting for any four-legged friends — but also act to divide the space, meaning that the 3,000 square foot terrace actually has plenty of cosy corners to sit and read peacefully.
The roof terrace at Vertus also plays host to some of their communal events, and the little extra’s that you get by renting through a luxury commercial operator. Among the dining tables and seating areas are a free bar, and there is also a BBQ area that Vertus provide a private chef to entertain residents.
For those feeling flush — the three-bedroom apartments are particularly great for outside space with expansive outdoor terraces. Albeit this does come at a cost — The pricing structure for 8 Water street is inline with Vertus’s 10 George street until you reach these three-bedroom apartments where the price jumps nearly £500 a month from comparable prices at 10 George street to a slightly eye-watering £5200 a month.
At first glance you could be forgiven for thinking that 8 Water Street doesn’t make the same statement as the instagram-friendly 10 George Street, or the towering exoskeletal Newfoundland.
However, the beautiful neutral interiors’ courtesy of The Accouter Group — combined with the tranquil gardens and waterfront setting — let 8 Water Street make its statement.
Positioned at the pinnacle of the ultra-luxury rental market even for Canary Wharf — a three-bedroom flat requires minimum earnings of £160k a year — 8 Water Street doesn’t come cheap. But with a 5-star hotel style feel, its excellent location and close-knit community afforded by the smaller building, it will no doubt be popular.
The plentiful outside space, calm and tranquility of 8 Water Street could make the perfect antidote to a fast-paced London lifestyle.