When it comes to investing in condominiums in Singapore, one must also carefully consider the impact of the government’s property cooling measures. Through the years, the Singaporean government has implemented various measures to control speculative buying and maintain a steady real estate market. These measures include the Additional Buyer’s Stamp Duty (ABSD), which requires higher taxes for foreign buyers and those purchasing multiple properties. While these measures may affect the immediate profitability of condo investments, they also contribute to the long-term stability of the market, creating a more secure investment environment. As such, it is important to keep an eye on new condo launches to stay updated on the changing landscape of Singapore’s real estate market.
St William, a division of London-listed real estate corporation Berkeley Group, has launched a new residential project called Regent’s View in London. Located in Zone 2 of the city, it is a unique adaptive reuse scheme that has transformed a decommissioned Victorian-era gasholder site into a brand-new mixed-use development.
The project, which consists of 555 units, has already received global acclaim after being awarded “Best Future Residential Project” at the 2024 World Architecture Festival in Singapore. The development is being marketed to key Asian markets for the first time.
St William was established in 2014 as a joint venture between Berkeley Group and London’s National Grid, with the purpose of redeveloping decommissioned industrial sites into residential and community spaces. In 2022, Berkeley Group acquired National Grid’s stake in St William, giving it ownership of 24 brownfield sites across London for its long-term landbank. Currently, St William is developing or in the process of developing about six of these sites.
Regent’s View, which spans 4.5 acres in East London, is located along the banks of Regent’s Canal in the borough of Tower Hamlets. The site, formerly known as the Bethnal Green Gasholders, has been a landmark of the area since the 1850s. The largest gasholder frame on the site is 146 feet tall and has a 200-foot diameter.
While most of the gasholder frames were decommissioned in 2012, St William and its architect partner, RSHP, have decided to incorporate them into the design of the new residential project. The frames, which are icons of the cityscape, will be an integral architectural element of Regent’s View.
The project features five contemporary residential buildings ranging from six to 13 stories, surrounding a landscaped park. Two of the residential towers are framed by restored gasholder structures. Residents will have access to 555 private and affordable homes, as well as 45,000 square feet of ground-floor commercial and community spaces, including a refreshed 100-meter public-access canal frontage. This marks the first time in over 150 years that public access will be restored to this stretch of Regent’s Canal, with new F&B offerings activating the area.
Preservation was a key consideration in the development of Regent’s View, with over 8,000 local residents signing a petition for the site’s preservation when it was being considered for redevelopment by the local council and St William. Despite the controversy, the Tower Hamlets council voted in favor of the project, and it took St William nearly five years to conceptualize and incorporate the gasholder frames into the design of the new blocks.
St William worked closely with the local community to find ways to preserve the gasholder frames, achieve their affordable housing targets, and rejuvenate the canal front through placemaking activities. The result is a design that celebrates the historical industrial heritage of the site and preserves the gasholder frames as an important part of the cityscape.
The ground floors of the five buildings are set aside for non-residential use, with the two largest gasholder structures featuring public-facing commercial amenities such as cafes, bars, and restaurants. The ground floors of the other three buildings will contain resident-exclusive spaces like the concierge and facilities.
In addition to Regent’s View, St William is also developing another industrial brownfield site featuring heritage gasholder frames in the borough of Newham. The site, spanning 23 acres and containing seven Victorian-era gasholder frames, will be transformed into a 2,000-unit mixed-use project, with development expected to begin next year.
After launching the initial sales of The Wright Building, a six-story block featuring one- to three-bedroom units, in 2021, St William launched the sale of The Westwood Building in September. This six-story block features one- and three-bedroom units, with prices ranging from GBP585,000 to GBP1.68 million.
The strong interest from international buyers, particularly from Asian markets, can be attributed to Regent’s View’s proximity to key educational institutions and local amenities, as well as its connectivity to major transport hubs in central London. The project’s third sales phase, which will include larger three-bedroom units, is expected to attract even stronger buying interest due to its prime location and unique design.