WAPPING. RIVERSIDE MANSIONS! HELP!

[AdvocatusDiaboli]

Hi there,

Considering buying a place in Riverside Mansions if one comes up.

Could you guys out there with any experience of the area or building get back to me please?

(1) What the building like? Does it feel like a council block?
(2) Is it safe?
(3) What are the transport links like?
(4) Are the buses any good?
(5) Is it a decent rental investment?

Any and all information would be gratefully accepted! I am a first time buyer and badly NEED to get this right!!

Best regards to all...

[MTY4000]

Can answer a few of your questions:

(3) What are the transport links like? Good. Buses to City (100) & Canary Wharf (D3) both from the high street. East London Line from Wapping, or DLR from Shadwell. City & Canary Wharf both within walking distance. Outside of rush hours also very easy to get out of London by the A12 or A13 (or A2 / A20 for Kent).

(4) Are the buses any good? Yes, I prefer them to Tube options. D3 can be a bit eratic - seems fine in the morning, less so in the evening and at weekends. 100's seem to be plentiful.

Do not know the specific block you mention so can not comment on the other questions.

[AdvocatusDiaboli]

Thanks very much for that!

This block is all I can really afford in Wapping...

[jamesrose]

(1) What the building like? Does it feel like a council block?

I have lived there for about a year. Doesn't feel to me like a council block although my flat has been
well renovated inside.

(2) Is it safe?

Again in the time i have been there, I have had no trouble - There are a few nice cars in the secured car park and i haven't seen anything happen to them

(3) What are the transport links like?

Good Bus links to Canary Warf or the City. Bus stop is 1 min walk from block. Wapping Tube station gets you on the jubilee line in under 10 mins. Shadwell DLR station (7 mins walk from block) gets you to bank in 15 mins


(4) Are the buses any good?

See above...

(5) Is it a decent rental investment?

These flats don't hang around for long when they are put up for rent - so I guess thats a yes.

Rental Income would be somewhere is the region of £220-260 a week.

Hope This Helps !

[AdvocatusDiaboli]

Thanks for that, very helpful!

[stumartin]

AdvocatusDiaboli said:

(1) What the building like? Does it feel like a council block? (2) Is it safe? (3) What are the transport links like? (4) Are the buses any good? (5) Is it a decent rental investment?

I've, ahem, been inside a number of flats in Riverside Mansions and I'd say that, whilst it could be a good, 'cheap' way of getting into Wapping, be very careful about the process - the condition of the flats can vary wildly from excellent to virtually condemnable. I'd make sure you have a good survey done.

Transport links depend on where you're going and by which means of transport. The East London line is presently useless unless you want to get to Canada Water/Surrey Quays, and frankly who does? There are good bus links from the main road "The Highway" so I'm told, and I guess you could walk up to Tower Hill tube in 15mins.. By car, the car park is secure and it's no easier or more congested to drive from there than anywhere else in centralish London.

Equally, if you want a quiet, safe neighbourhood with old ladies that bake cakes on a Sunday - get out of London

If it's a good flat and you decorate it properly, it'll rent in a week or two, even privately. You won't make huge margins, but it will rent and you should make money.

Hope that helps. Good luck

[TSNY]

I bought in Riverside Mansions about 4/5 years ago. The east london line is not useless at all- it is a really quick way into the City- only 2 stops north to Shoreditch Station on Brick Lane (great if you work around Bishopsgate). And going south it is a quick link onto the jubilee line (on a good day- you can make it to Bond Street in 20/25 mins)

Plus there is the east london line extension to think about. Transport is very good already though- tube/bus/boat/dlr/walking distance to city and canary wharf- has it all really.

The majority of flats are renovated/modern, but some have not been altered by residents who have lived there for 30/40 years (as with any block of flats.) However, the communal areas/gardens and the actual structure of the building are v. well maintained.

Not at all like a council block (these days mostly full of accountants/lawyers from the city)- but it's still a really nice place to live!

[jamesrose]

TSNY, do you live there at the moment ?

[stuartc73]

I Bought an apartment in 2003, Top floor with view on the Dock.

Ripped the whole apartment down and completely refurbished it to high standard, never let it for less than 260 pw.
properties in lesser condition go for close 200/220 pw...

If you are buying, try to get a dock view. Top floor and mid floor are different in size, but top floor has nicer view and more independent.

I have been out of the UK for some time so not sure what they are selling for these days...

[mikenixon]

Bought my top floor flat in Riverside in 1995. Like the top floor as you havn't got anyone above you. Mostly young couples / professionals so doesn't have a council flat feel. Work has also just completed on a new tiled roof for the whole building which has really improved the structure / look. I have a secured parking space accessed by electric gates and never had any problems with security. Also has communal gym, cycle sheds, on-site caretaker and gardener. Also considering selling soon due to change in circumstance (now working in cheshire).