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Atlas – An opportunity to buy into the tallest building in the centre of London’s Tech City
SINGAPORE, 24 March 2015 – Central London properties have traditionally been in great demand by buyers for overseas property, given its reputation as a safe haven and plethora of prestigious educational institutions. In recent years, however, the area known as the 'City Fringe' has transformed into an established part of the London office and residential market, with Shoreditch, Clerkenwell and Aldgate identified as core locations.
'Tech City', a digital and tech cluster increasingly recognised as central to London's economy, has undergone significant redevelopment in recent years, with investment from companies such as Cisco, Facebook, Google, Intel, McKinsey & Co, Amazon, resulting in demand, rents and value rising strongly, comparable to the City core.
Hackney - which contains Shoreditch - has seen the strongest residential price rises of any London Borough over the past three years, with prices now 48.7 per cent above the same point in 2011. According to JLL Research, residential prices in these locations are expected to grow by 17.4 per cent over the next three years and over 29.4 per cent in the next five years.
Driven by increased demand, high spec office and residential schemes are being developed across the area, including The Atlas Building in Shoreditch, which is due to launch from 1st to 3rd May 2015. It will be the tallest in Tech City with fantastic views across the City and West End.
The Atlas Building is a landmark mixed-use development consisting of a striking 40-storey residential tower and a 10-storey office building, as well as a new public piazza and retail space. Designed by award-winning MAKE Architects, the 152-metre building located moments from Old Street roundabout will be the tallest in the Tech City cluster.
Due for completion at the end of 2018, the residential tower is a collection of 302 highly specified apartments, including studios, one, two and three bedroom apartments and penthouses. The building contains an extensive range of lifestyle amenities for residents, including a gym, spa and ground floor swimming pool, cinema room, 24 hour concierge and security and private residents lounge.
Directly fronting City Road, The Atlas Building is in a convenient and buzzing Zone 1 location and in prime position to access the diverse areas of Shoreditch, Islington, Farringdon and the City. The project is being developed by Rocket Investments, a private property development and investment company with a strong track record of delivering successful mixed-use schemes, with a particular focus around Old Street and City Road.
Tom Appleton, Founder and Chairman of Rocket Investments, said: "We are excited to be launching The Atlas Building, as it is a bold development that responds to the spirit of innovation and growth in Tech City. Having worked on a number of significant projects in the Old Street area, Rocket Investments has seen the transformation from City Fringe to a core London market at first hand. Tech City embodies the eastward drift of London's economy and, with the upward trajectory of demand and values expected to continue, The Atlas Building offers a unique chance to be part of one of London's most vibrant and opportunistic areas, whether from a corporate, investment or lifestyle perspective."
JLL Singapore has observed more Singaporean investors purchasing properties in London's City Fringes over the past few years. Said Doris Tan, Head of International Residential Property Services, JLL Singapore: "Investors from Singapore favours high rise towers as they are familiar with those back home. They also see these as good investment properties especially given that building costs and labour costs are soaring. JLL had sold several units in properties located in the city fringes, such as Principal Tower, Avant Garde and Canaletto, and they have all appreciated in value over the last two to three years."
For further information and to register interest in The Atlas Building see www.theatlasbuidling.com
Notes to editors:
1. Click here to download a copy of JLL's research report, "Understanding Digital London: Shoreditch, Clerkenwell, Aldgate"
2. More information on The Atlas Building can be found here
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