IS THE LONDON DOCKLANDS AND CANARY WHARF SOULLESS?

An interesting article from The Times Online talking about the condition of the property market in the East London. According to the article some non-residents of the Docklands and Canary Wharf often describe the area as being ’soulless’.

I have lived on the Isle of Dogs since the age of 8, I grew up in the Docklands and it really annoys me when people describe the Docklands as ’soulless’, the Docklands is anything but soulless, there is plenty of life in the Docklands, not to mention the immense history of the area, luxury riverside apartments and Canary Wharf, which will eventually take over the City of London as the main business district of London.

Anyway this article talks about the property bubble bursting in East London, Rebecca O’Connor and Paula Hawkins of The Times Online reports that two years ago, developments including the Elektron Building, in Blackwall Way, and Ballymore’s awesome Ontario Tower, in New Providence Wharf, also in E14, set the pulses of buy-to-let landlords racing.

Now, some investors who borrowed heavily to buy flats in such developments are in trouble. Many have tried to sell and failed. There are fears that some who bought off-plan but have not yet completed may have to back out because they can no longer obtain a mortgage.

READ THE FULL ARTICLE

Read the full article via The Times Online

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