Baltimore Wharf in London’s Docklands, was one of our greatest successes in 2007.
It is a prestigious, luxury development at Canary Wharf containing hotel style suites with 24-hour Concierge/room service, a swimming pool, cocktail lounge, gymnasium, spa and gourmet restaurant.
Irish developer Ballymore has a renowned reputation in Canary Wharf and has been the primary force in the construction of the most prestigious buildings in the area including the landmark Pan Peninsula building. This is a building, which has set the standard for luxury and prices approaching £1,000/ft2.
Ballymore implemented a limited release strategy, selling units on one floor at a time and each apartment released has been sold within a matter of hours. Early off-plan investors were able to take advantage of the limited supply and sell on their contracts well before completion; in one instance, an apartment has been sold 4 times since 2005.
This was a good sign for Baltimore Wharf, which is only 300 metres away and has similar specifications. Following several months in negotiation, Kuvera was able to offer units at Baltimore Wharf to our members before they came on the open market.
There was wide take-up and 24 hours after we sold our last unit Baltimore Wharf launched to the general public at £100 extra per square foot right across the board. It was a fantastic result for our members.