Strong overseas interest generated for new rooftop development
Significant levels of interest from overseas investors and young professionals have been generated by two luxury penthouse apartments in south London, according to airspace development specialist Click Above.
It believes the strong interest in the homes, which have just been released for sale in the Vauxhall, Nine Elms & Battersea (VNEB) regeneration area, bucks the widely held belief that the prime residential market in London is in decline.
Click Above has delivered the two apartments atop an existing three-storey development of 16 apartments, known as Corben Mews, which form an exclusive gated community just off the Wandsworth Road.
Found on the fourth floor, the two penthouses ‘boast breathtaking views of the London skyline’ and ‘have been finished to a very high standard with versatile and adaptable features that include bi-folding floor-to-ceiling glass doors to maximise the view’.
The homes also include fully equipped luxury kitchens, with integrated branded appliances and contemporary fixtures and fittings, as well as designer bathrooms with underfloor heating.
The single-storey extension was added to the existing building, with minimal disruption to the existing residents, thanks to off-site, modern methods of construction that enabled most of the build to take place in Click Above’s own workshop. Once ready, the units were then lowered into place by cranes over a single weekend.
A range of upgrade works, including refurbishment of the communal stairwells, was completed as part of the project to make sure that the existing tenants benefitted from the enlargement of the development.
“An already densely-developed city such as London often struggles to meet demand for new housing, yet the solution is there in plain sight: airspace,” Aaron Emmett, managing director of Click Above, said.
“Whilst the UK has traditionally lagged behind many other international markets in its adoption of developing the airspace above existing buildings, what we’ve achieved here at Corben Mews and the interest which has been received from international investors, demonstrates the valuable – indeed vital – contribution this approach to housing can bring to stock levels.”
Click Above acquired the airspace above Corben Mews with planning permission already in place, but was still required to make a number of small adjustments to allow for modular construction that was used for the new penthouses.
“Developing in the airspace and utilising modern methods of off-site construction mean that special consideration needs to be paid to the logistics of any such project,” Emmett added. “Road closures, over-sailing during the crane lift, specialist structural surveys of the existing building and preparation of the roof to be developed on, are all vital steps and mean that this is a concept that requires dedicated specialists.”
“That said, when carried out properly it really can appear to be a straight-forward concept. From appraisal and valuation through to planning and construction, the Click Above team goes above and beyond to deliver a higher level of professionalism, making the whole experience feel smooth and effortless. Indeed, the existing tenants at Corben Mews have all been surprised at just how easily the extension was delivered.”
The Corben Mews penthouses are currently being marketed by Hamptons, with apartment 17 (84 sq/m) costing £750,000 and apartment 18 (82 sq/m) on the market for £730,000. Off-street, secure parking is available to purchase at an extra cost.
By Matthew Lane
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