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New Canning Town apartments become fastest selling for agents

PUBLISHED: 14:37 26 March 2013 | UPDATED: 14:37 26 March 2013

The Vermilion building in Canning Town.

The Vermilion building in Canning Town.

Guildford Photographer

Nearly 95 per cent of the new apartments on the site of the old Rathbone Market have been snapped up in a year.

Only 15 flats remain out of the 271 built in the Vermilion building in Canning Town and it is the fastest selling scheme for selling agents Hampton International.

The 21-storey building, containing one-bedroom apartments from £245,000 to a three bedroom penthouse worth £695,000, has proven popular with first-time buyers in particular since properties went on the market in March last year.

Tom Hawkins, associate at Hampton International, said: “The uptake has been faster than anticipated.

“You’re never sure how buyers will take to a new development, particularly one at the heart of such a vast regeneration scheme, but the response at Vermilion has been hugely positive and the sales rate has far exceeded our expectations.

“The most encouraging thing has been the number of first time buyers keen to buy into the scheme, a large proportion of our sales have been to this demographic.”

The redevelopment of the site is the first phase of a £180million regeneration scheme which is part of a Newham Council’s Canning Town and Custom House masterplan that will see £3.7billion invested over the next 10 years.


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