people these days want a water view more than anything else. This wasn't true 30-40 years ago; the bank of the Thames was just wilderness from Greenwich to the Tower. Now every town in the world that has old warehouses by a harbour or a river is seeing them done up and sold for a fortune.
I don't know why exactly, but there is something relaxing about being able to look at water.
And as snags says, this one's quite a bargain.