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HONG KONG, 25 March 2015 – As a result of rising office rents and residential values, increasing demand and a growing prime development pipeline, Shoreditch should now be classified as a core London market, according to research from JLL.
The area once known as ‘City Fringe’ has transformed to become an established part of the London commercial and residential market, with Shoreditch, Clerkenwell and Aldgate identified as core locations.
Hackney – which contains Shoreditch – has seen the strongest residential price rises of any London Borough over the past three years, with prices now 48.7% above the same point in 2011. Furthermore, JLL Research predicts that values in City Fringe’ locations, including Shoreditch, will rise by 17.4% over the next three years and 29.4% over the next five years.
Driven by increased demand, high spec office and residential schemes are being developed across the area, including The Atlas Building in Shoreditch, which is due to launch in Hong Kong in April.
The Atlas Building is a landmark mixed-use development consisting of a striking 40-storey residential tower and a 10-storey office building, as well as a new public piazza and retail space. Designed by award-winning MAKE Architects, the 152-metre building located moments from Old Street roundabout will be the tallest in the Tech City cluster. Due for completion at the end of 2018, the residential tower is a collection of 302 highly specified apartments, including studios, one, two and three bedroom apartments and penthouses. The building contains an extensive range of lifestyle amenities for residents, including a gym, spa and ground floor swimming pool, cinema room, 24 hour concierge and security and private residents lounge.
Directly fronting City Road, The Atlas Building is in a convenient and buzzing Zone 1 location and in prime position to access the diverse areas of Shoreditch, Islington, Farringdon and the City. The project is being developed by Rocket Investments, a private property development and investment company with a strong track record of delivering successful mixed-use schemes, with a particular focus around Old Street and City Road
Tom Appleton, Founder and Chairman of Rocket Investments, said: “We are excited to be launching The Atlas Building, as it is a bold development that responds to the spirit of innovation and growth in Tech City. Having worked on a number of significant projects in the Old Street area, Rocket Investments has seen the transformation from City Fringe to a core London market at first hand. Tech City embodies the eastward drift of London’s economy and, with the upward trajectory of demand and values expected to continue, The Atlas Building offers a unique chance to be part of one of London’s most vibrant and opportunistic areas, whether from a corporate, investment or lifestyle perspective.”
For further information and to register interest in The Atlas Building see
www.theatlasbuidling.com