With rental prices in London reaching their peak* in recent months thanks to an increase in demand and decrease in available homes, renting a home in the capital is viewed as a challenge for many hopeful tenants – prices of rental homes in Greater London are now a huge 70% higher than the UK average.
Helping to combat the demand for high quality rental homes at accessible prices in the capital, L&Q have launched a new phase of contemporary one-, two- and three-bedroom apartments at Barking Riverside – with prices starting from just £1200 pcm, around 43% less than the capital’s current average.
Lukman Ahmed, PRS and Commercial Director at L&Q, comments, “We know the demand for rental homes is high, and prices have been increasing at a rapid rate – particularly in Barking, which has seen one of the highest average price increases of all London boroughs in recent months.
“We saw huge demand for the first two launches of rental homes at Barking Riverside, and expect just as much excitement for the latest phase – the location, community, specification and value for money make this a highly desirable development for those looking for a stable tenancy in the capital.”
Barking Riverside is a joint venture between L&Q and the Mayor of London and L&Q’s newest PRS development at Barking Riverside further demonstrates its commitment to being long-term stewards of the area, bringing forward a thriving new community and the necessary infrastructure. L&Q’s newest development adds to the organisation’s growing collection of build to rent homes across the capital, adding a positive contribution to London’s rental supply and helping to alleviate shortages in areas with high demand.
Homes at Barking Riverside bring modern, flexible living spaces to an up-and-coming destination. All L&Q’s homes feature spacious open-plan kitchen/dining areas, with contemporary kitchens which make for the ultimate entertaining zone. Sizable bedrooms benefit from large windows, which fill the rooms with natural light. Principal bedrooms have ensuites and all bathrooms are fitted with modern white sanitaryware and chrome fixtures.
A must-have for modern living, every home has a private balcony or terrace, and the development is pet-friendly too. Removing the hassle of purchasing furniture, renters can opt for bespoke furniture packages, available at additional monthly cost. Parking spaces are also available on select apartments.
New residents benefit from a wide range of amenities at Barking Riverside. A short walk from L&Q’s new private rental homes is The Wilds, an ecology, community and events space which includes its own café, GROUNDED, as well as co-working spaces, perfect for young professionals seeking an alternative to working from home. Perfect for families, the development is also home to the Oystercatcher Playpark and a network of walking and cycling routes which make exploring the 2km of river frontage even easier. Schools on site include primary schools plus Riverside Secondary School, which recently received an Outstanding Ofsted rating.
Well connected for commuters, from the Barking Riverside station, the new Overground route offers journey times of just 22 minutes into Central London. Further connections via the Hammersmith and City line, District line, and the C2C services all run from nearby Barking Station, which is just a 7-minute journey from Barking Riverside. By river, the Uber Boat by Thames Clippers connects Barking Riverside to Woolwich in just 9 minutes, from where the DLR is directly accessible.
Plans are underway for a new Wellbeing Hub, which will be built by the London Borough of Barking and Dagenham. Appealing to eco-conscious renters, Barking Riverside is home to an innovative sustainable and effective waste collection system by Swedish company Envac, promoting a clean and pleasant living environment.
Prices for L&Q’s rental apartments start from £1,200pcm for a one-bedroom apartment.
