Canary Wharf is a business district in Tower Hamlets, London. As Canary Wharf estate agents will tell you, the area is already an incredibly popular place to live due to its wide range of shops, restaurants and cafes, beautiful scenery and transport links. Alongside London City Airport, Canary Wharf also boasts the Canary Wharf Tube station, which makes commuting to work incredibly easy. However, transport in the area is soon to become even better as the planned new Crossrail station is set to be completed by 2018. This will inevitably make the area even more desirable to live in, as commuting in and out of the city centre and the rest of the country will become easier.
Canary Wharf estate agents know that now is the time to invest in property in Canary Wharf, as previous data shows significant increases in house prices where the Crossrail line runs. For example, house price growth along the 38-station route from Reading to Shenfield includes that in West Drayton, which has seen a 51pc rise in prices, Ealing Broadway which has seen a 50pc raise and West Ealing which has risen by 48pc. Even in areas where the rise has not been so sharp, there remains the pattern of growth, showing just how beneficial the railway line can be for an area.
The station itself will be one of the largest Crossrail stations and is being built on the North Dock of West India Quay. The station, currently in development, stands six storeys high, with four of these set aside for retail areas. There is also a landscaped park currently open and a planned restaurant and community facility on the sixth floor, partly covered by a timber lattice roof.
The station is being built for £500m, £150m of which is being funded by Canary Wharf Group plc. It is situated between Whitechapel and Custom House, providing an interchange with Canary Wharf tube station on the London Underground and Poplar DLR station on the Docklands Light Railway.
With the recent developments across London, much of the city is now becoming desirable for those wishing to live or invest in the area. If you would like more information, help or advice from Canary Wharf estate agents then talk to someone at Henry Wiltshire today.