Inside the £6k a month Canary Wharf flat where you pay £72,000 a year to never own

A blogger couple who posted an online tour of a luxury Canary Wharf flat has left people in shock over the amount of rent it costs to live in per month.

Summer Newman and Matt Mellor’s tour of a two bedroom apartment in the financial district has received hundreds of divided comments because the rent amounts to a pricey £6,000 a month.

The couple are twenty-year-old-somethings who run a property developing business together, you may recognise their glamorous Tik Tok tours of multi-million pound properties, which estate agents and property developing companies pay them to do.

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Matt boasts that the Newfoundland skyscraper is “the tallest Build-to-Rent scheme in London” – however, one concerned commenter points out that a year’s rent would add up to a staggering £72,000.

One person wrote: “£72,000 a year for the first apartment and you’ll never own it! That’s insane to me. I think this is great for a short term let e.g. 3mths for business but long term it’s a waste of money.

“As a born and bred Londoner, the real estate prices in London are now beyond ridiculous!”

While another said: “With £6,000 a month I would stay in a hotel, have my room cleaned every day and still have half of that money left to spend…outrageous prices”

Canary Wharf, also known as London's financial district

Canary Wharf, also known as London’s financial district

The couple repeat how “cool” it is that residents of the building have access to an “awesome gym” and coworking space – and that the entire building is for rent only.

But more viewers stressed that £6,000 per month in rent is an extortionate price to pay.

“£72,000 a year not including council tax, energy bills and other costs. Hard to imagine an individual shelling out that amount from their own pocket on a rented property,” said one.

Inside the first of two apartments presented by Summer and Matt, there is one en-suite bedroom, another bedroom and a study which could be adapted into a third bedroom. There’s also a bathroom with a walk-in shower and a bath, and a WC is in another part of the flat.

But the real wow-factor is the floor to ceiling windows in the open-plan living room, which again, “is a really cool view” of Canary Wharf and the Docklands.

Ironically, Canary Wharf is one of the most expensive places to live in London but exists within one of the most deprived boroughs in London – Tower Hamlets.

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In 2020, Tower Hamlets had the highest rate of poverty in the capital at 39 per cent, followed by neighbouring boroughs Newham and Hackney at 37 and 36 per cent.

The couple go on to showcase another apartment on the 22nd floor, which is again, sleek in design with its floor-to-ceiling windows and marble-top feature walls.

After showing the amenities, the couple end the video with more sponsored advertisements for their other Canary Wharf ventures.

Despite an uproar in the comments, some people seemed to love the lavish tour of the building.

“Amazing apartments love the floor to ceiling windows and decor, one of my favourite apartments you’ve shown xx,” said one.

Another said: “Those views are insanely good.”

What do you think of the £6,000 cost of rent per month? Let us know in the comments section here.

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