CBRE Borough Guide 2017: Tower Hamlets
Tower Hamlets is a diverse borough incorporating a variety of neighbourhoods ranging from the financial hub of Canary Wharf, the city fringe districts of Wapping and Aldgate, and the increasingly in-demand district of Poplar. Tower Hamlets is constantly evolving and is undergoing significant regeneration.
Whitechapel is one of the key regeneration areas with development being unlocked by the arrival of the Elizabeth line (Crossrail). A new masterplan anticipates £1 billion worth of investment to deliver 3,500 new homes and 5,000 new jobs. The traditional financial district of Canary Wharf is also diversifying with Canary Wharf Group adding residential to its offering. Work has now started on the mixed-use scheme that includes 3,600 homes, 350,000 sq m of commercial space, retail and leisure uses and new parks and squares. The aim is to attract creative and technology businesses to the area. Similarly, London Dock will be a game changer for Wapping. It will create a new destination with 7.5 acres of open space including bars, restaurants and boutique shopping. In addition, with approximately 1,800 homes being built, it will add around 30% to the local housing stock.
Good to know:
- Located in Tower Hamlets, Brick Lane’s restaurants, neighbouring street market and shops provide the largest range of Bengali cuisine, woodwork, carpets and clothes in Europe.
- Tower Hamlets has the second largest share of students living in the borough.
- It has the largest number of homes in the planning pipeline.
- Our forecasts suggest Tower Hamlets will have one of the highest rate of house price growth in London over the next five years