22 THE WHARF OCTOBER 25 2012 wharf.co.uk

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Guide: £1,499,995Pan Peninsula, E14

Guide: £495,995Pierhead Lock, E14

Guide: £170,000Amsterdam Road, E14

An extensive two-bed luxury duplex on the 42nd and 43rd floors. Residents’ cinema, valet parking and cocktail bar.email4property.co.uk

A two-bed, two-bath apartment with river views, a terrace and secure parking. This is a duplex property.email4property.co.uk

A top floor studio flat with 520sq ft of space and off street parking. Close to Crossharbour DLR for Wharf access. email4property.co.uk

For more properties on sale now in London, go to stirling ackroyd.com

Canary Wharf’s leading property guide

London is not renowned for its community mindedness. So it’s intriguing to hear property lawyer Mark Gawor

describe his corner of E1 as like a “little village”.

“Wapping Lane has a butcher, a baker and probably a candlestick maker although I haven’t found him yet,” he said.

“It’s a very lively friendly village community here, everybody says hello to everybody else, you get to know people and it’s a great place to live.”

And in Mark’s experience, as Wapping’s only specialist property solicitor since 1992, once most people move to the area they rarely want to leave.

“I’ve lived and worked here for the last 20 years and I wouldn’t want to be anywhere else,” he said.

“The communication links are fantastic. It’s a five-minute walk to St Katharine’s Dock and 15-minutes to Canary Wharf in the east. And now we have the Overground as well.”

Mark founded Gawor and Co Solicitors after acquiring a wealth of experience in commercial and residential property at Lincoln’s Inn firm Trowers and Hamlins, before moving to AW Kemp and Co in 1984.

He is very proud of Wapping’s regeneration from fictional birthplace of arch-bigot Alf Garnett to rustic inner-city nirvana and is optimistic about the town’s future. He explained why he decided to set up shop there in the ’90s.

“The country and London had just gone through a property crash and I looked at areas in London where I thought the next big rise would be and Wapping looked like a good bet

because of its location between the Old City and Canary Wharf, which was starting up in the mid-’80s with the construction of One Canada Square,” he said. “It looked like a good proposition.”

The bet paid off. The Wapping of the 21st century is practically unrecog-nisable from the run-down bleakness that provided the backdrop to a Beatles photo shoot in 1968. The area struggled after the docks declined, then shut and many buildings were left to fall derelict.

“It was a very run down and poor area for many years,” said Mark. “It went on until the ’60s. New Crane Wharf, the building, where my offices now are, shut down in the late ’60s.

“In fact New Crane Wharf was the first large scale redevelopment and everything else followed.

“I’ve watched all of the new devel-

Wapping’s future is bright says property solicitor Mark Gawor explains why nobody leaves once they buy in the areaDaniel SutherlandThe Wharf

Why should I buy in Wapping?W

“Prices have remained consistent in Wapping and it’s a good investment. As good as Canary Wharf”

Mark GaworGawor & Co

opments along the river all the way down to Canary Wharf and as solicitors we’ve been involved in the majority of them and the rebuilding and construction of refurbishments and redevelopments.”

Wapping undoubtedly appears more cosmopolitan. In the space of 20 years, its restaurant scene has expanded from one maritime-themed Chinese, The Riverside, to include Turkish, Indian and Italian cuisine.

And Mark is buoyant about high profile future developments, which he hopes will improve the area even further.

“Wapping is constantly changing,” he said. “The new development by Ballymore at 21 Wapping Lane is particularly exciting.

“The News International site has

Quarter has been excellent. It benefits from a high specification finish, excellent transport links and value for money homes, which is why it has been consistently popular with a range of buyers.

“We have had many purchasers at Morello Quarter who have bought because it is just moments away from Basildon train station and can take advantage of the direct services into London.”

The apartments, which include spacious bedrooms and luxurious bathrooms, are set among four buildings rising to 10 floors at their peak. Prices start at £129,000 a one-bedroom and £143,000 for a two-bed.Go to weston-homes.com.

The “Docklands Of essex” is how Weston homes’ new development in Basildon is being marketed.

Morello Quarter’s 425 luxury apartments are a big part of the £2billion regeneration scheme to boost the area.

Close links to the M25 and Southend Airport, as well as the C2C train line, offering links to Stratford and Limehouse, all benefit the town.

The scheme, currently in development, comprises one and two-bed flats and is aimed at young professionals, first-time buyers and investors.

Chairman and chief executive of Weston homes Bob Weston said: “The demand for homes at Morello

Basildon pulls in buyers

Tempting to investors

ESSEX

JUBILEE LINE

Properties are selling well at Morello Quarter in Basildon

The houses are in need of restoration and refurbishment

“Superbly sited on the edge of greenbelt to the north of London, Stanmore offers easy access in to town by Underground and easy access to the M1 and M25.

“The properties provide the gateway to the Manor house, one of Stanmore’s best kept secrets.

“We are expecting considerable interest, particularly from investors looking to create pretty, sought-after homes.”

The cottages were previously owned by the RAF and St John’s Church. As they’re at the end of the Jubilee line, interested Wharfers can count a Tube seat among their benefits. The cottages are available at a guide price of £475,000. Go to annington.co.uk.

A PAIR of beautiful cottages at the western end of the Jubilee line are up for sale representing a rare opportunity for investors.

The listed buildings are being sold together offering nearly 1,500sq ft of space with five bedrooms and parking.

Annington homes is selling the properties, situated a Tube ride from the Wharf on the Stanmore Manor estate. Featuring mullion windows, Tudor style chimneys and exposed timber framing, the Gate house Cottages date back to the ’30s, but are in need of some refurbishment and restoration.

Anscombe and Ringland’s Leon Benardout, the agent selling on behalf of Annington, said:

23THE WHARF OCTOBER 25 2012 wharf.co.uk

-

HOMEFRONTBy Dawn Sandoval

How letting a spare room could pay off

Q I have a spare bedroom in my apartment and am seriously considering

renting it out for some extra cash in. A friend mentioned there is a government initiative called The Rent A Room Scheme. Can you tell me more?

A Many homeowners today are choosing to become resident landlords –

someone who lets out part of a property that is their main or only home. This could be a single room or an entire floor.

If you go down this path, you’ll have certain rights and responsibilities. You’ll be liable for keeping the property safe and in good repair, however a tenant or lodger cannot challenge the agreed rent and you can give less notice to end a tenancy than if you rented out the property as a whole.

The Rent A Room Scheme, which is optional, lets you earn £4,250 tax-free per year by letting out furnished accommo-dation as a resident landlord.

If you’re not in it, you’ll pay tax on your rental income after deducting expenses like wear and tear, insurance and repairs.

If you join though, you’ll only pay tax on rental income

you received over £4,250. Rental income includes money you get for extra services you provide, like meals and laundry. The difference is, you won’t be able to claim any expenses.

The £4,250 allowance may also be halved if someone else in the property – like your partner – also receives income from letting.

Resident landlords can opt in to the scheme at any time. However, it may not be used for homes converted into separate flats even if you live in a property in the same building.

You’ll get the tax exemption automatically if you don’t normally receive a tax return and the yearly amount you get in rent is less than £4,250.

If you get more than £4,250, you should complete a tax return.

If you want to opt out, complete a tax return and declare the relevant lettings income and expenses on its property pages.

Dawn Sandoval MNAEA is an independent property consultant working in the Canary Wharf area – call 020 7093 1702. Every effort is made to ensure the accuracy of comments given. Individual cases must be studied by a solicitor. Email questions to newsdesk@wharf.co.uk.

Canary Wharf’s leading property guide

1/2Allowance is halved if you’re not the only landlord

THE creation of a high-speed rail service linking Canary Wharf to the City is set to have a knock-on effect in the property sector, by boosting the value of real estate by £5.5billion in the next 10 years.

Findings released by property consultant GVA have pinpointed the wider impact of the Crossrail project and flagged up its ability to stimulate investment in housing, retail and commercial property in areas surrounding its route by 2021.

The railway, due to begin operating in 2018, involves the construction of eight new stations in central London and Docklands, one of the largest being in Canary Wharf, with the service spanning 118km of track.

It is this transport regeneration, experts say, that will help to support the delivery of more than 57,000 new homes and 3.25million sqm of commercial space.

The report also signalled that Crossrail could prompt significant property investment in Canary Wharf,

now been sold to Berkeley Homes of the St James Group and they will build hundreds of flats there, which is all very exciting and will prove fantastic for Wapping.”

Mark thinks Wapping’s success is due to its amalgamation of the old and the new and, with so many people reluctant to sell up, 21 Wapping Lane

should bring a new generation of buyers into the community.

“Once you’ve discovered this area there’s no reason to move anywhere else,” he said.

“Prices have remained consistent and it’s a good investment – as good as Canary Wharf.” Go to gawor.com.

Crossrail to boost the market by £5.5billion

Is it worth doing these big projects?W

“Every pound of properly targeted infrastructure spend can generate up to 10 times the initial investment in broader economic terms.”

Liz Peace

Mark Gawor, right, with partners in Gawor and Co, Rebecca Bozier and Sameer Yousuf. Below the firm’s offices

with residential capital values around the North Dock site also expected to ride the wave of an estimated 20 per cent increase.

Mike Taylor, director at GVA, said areas outside of London, including Essex, would also reap the rewards offered up by the new system.

He said: “Crossrail is more than a new rail link, it will be the catalyst for regeneration and a key driver in maintaining London’s position as a leading global city.”

Liz Peace, chief executive of the British Property Federation, said: “As well as acting as a major catalyst for regeneration along its route, Crossrail demonstrates that investing in infra-structure makes sound economic sense.

“Every pound of properly targeted infrastructure spend can generate up to 10 times the initial investment and the new homes and office space will help in an area of high demand and constrained supply.”Beth Allcock

An artist’s impression of Canary Wharf’s Crossrail station

BEN BROOMFIELD