Say hello to a new Dalston icon. The 14-storey Kinetica displaces a rundown and under-rated art-deco building that would be still with us, probably as flats, were it not for the former Blairite John Prescott’s VAT-relief incentive for new buildings.
Thanks to the work of immigrants for the developer, Telford Homes, Kinetica, designed by WaughThistleton, a North London firm, has risen on schedule. Almost 80 per cent of its 41 flats have been sold to buyers who want properties near the City and the Olympic Gamesat Stratford, 5km east of Dalston. Prices for the last ten flats start at £260,000; remember, today’s market is a buyer’s.
New York’s Flatiron, designed by Daniel H. Burnham, erected in 1902 and still a tourist attraction, is an obvious inspiration. But the feature that will make Kinetica a landmark is its four stylish windturbines. They will generate electricity for the flats; hence the name, from kinetos, derived from a Greek root pertaining to movement/energy.
Telford says that views from the building include Canary Wharf and the Olympics Park: an opportunity for buy-to-letters hoping to make a rental killing during the few weeks of 2012 when rich people will pay a fortune to watch curiously buff bodies race around a track and lift heavy things.