£100m-worth of flats sold off-plan in two months at new 50-storey riverside skyscraper

City workers still expected at their desks every day, very fortunate first time buyers, and international buyers who still consider central London real estate a prestige buy have, together, splashed £100m on homes at a newly launched riverside skyscraper.

Developer Native Land has hit the sales milestone less than two months after properties at Opus building, at its 5.5 acre Bankside Yards development beside the Tate Modern, went on sale.

Homes at the 50-storey, 558ft tall tower are priced from £895,000 for a studio.

The most expensive home currently listed, by Knight Frank and JLL, is a three bedroom priced at £2.99m.

(Native Land)

Nicholas Gray, executive director, Native Land said that the majority of homes had sold to British buyers, although representatives from the USA, South East Asia, China, and the Middle East will also call the building home when it is completed in 2027.

“The buyer demographic has been broad, ranging from downsizers and professionals working in the City to families buying for the next generation,” he said.

As well as 249 homes, the development will include shops, bars, restaurants and leisure spaces, and residents at Opus will have a whole raft of trendy extras.

Private amenities will include podcast and art studios, co-working space, studios, a padel court and bouldering wall, as well as a gym, Pilates studio, and a health centre.

(Native Land)

“Alongside the unrivalled location, the amenities have also been a significant draw,” said Alex Carr, head of central London residential development at estate agent JLL, one of the firms selling homes at Opus.

“Over the past decade, we’ve seen the quality and breadth of services offered at residential developments expand considerably. Native Land has responded by curating an exceptional health and wellness offering at Opus.”

It has not been revealed how many individual units have been sold in the past few weeks, but their collective value is impressive at a time when house prices across prime central London continue to fall.

Average prices fell by 2.2 per cent in the year to May according to research by Knight Frank.

It blames the dismantling of the Non Dom tax regime for deterring wealthy international buyers from picking up real estate in the British capital in what the firm describes as a “wealth exodus”.

The total number of deals struck is also down by seven per cent year-on-year, while, according to house price analysts LonRes, central London property is being sold at an average discount from initial asking price of almost nine per cent as vendors chase the market down.