Planning and construction Future supply – rise of the tall clusters
Map 2 Prime residential clusters in
inner London 2012 Developments of 10 units or more
Will the record number of construction starts satisfy the demand for prime stock in the capital? A look at the nature of the development pipeline would suggest that developers think not. If there is demand for stock but you have none to sell, the obvious answer is to build. If the demand is for super-prime but the super prime areas are becoming exhausted, then you build on the fringes. If the demand is for prestige, then you build towers, and if you can, you build them next to the river. Map 2 and Table 4 clearly shows that to a large extent
this is exactly what is going on. Clusters of prestigious tower developments are forming on the prime fringes at Docklands, Surrey Quays, North City fringe, East City fringe, Blackfriars and Vauxhall. One could argue that the applications and permissions in the pipeline have merely accumulated over time and do not constitute a conscious drive by developers to build. However, consider that over half the applications and permissions in Table 4 were submitted or granted in 2012. This has had a dramatic effect on the overall inner London pipeline, one which may not be instantly apparent by looking at Table 2. The permission pipeline figures on Table 2 do not indicate when the permissions were granted, merely what remains in the pipeline. To find out the amount of activity in the planning pipeline we must look at the rate at which planning permissions were granted in any given year.
Table 4: Developer table – prime residential clusters in inner London 2012 Developments of 10 units or more
Development
DOCKLANDS Cuba
Angel House Arrowhead Skylines Asda Site
Helix-London City Pride
Baltimore Wharf
New Providence Wharf Lincoln Plaza
South Quay Plaza
ELEPHANT Eileen House One Elephant Tribeca Square 360 London
Postcode
E14 8LD E14 9FW E14 9SJ E14 9TS E14 3BT E14 5SP E14 8JH E14 9EA E14 9RL E14 9TN E14 9SR
SE1 6DE SE1 6SQ SE17 1LA SE11 4QU
Storeys Developer 52 Talya
47 Angel House Developments 55 Ballymore 45 ZBV Limited 21 Asda
35 McDonalds Property 75 Chalegrove
43 Galliard and Frogmore 44 Ballymore 31 Galliard
Possibly St James (Berkeley)
41 Oakmayne 37 Lend Lease
23 Delancey/ Oakmayne
44 Barratt, Jamie Ritblat’s Delancey, Redrow and Lend Lease among the bidders
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