select
|

London's world-class status as a global brand assures longevity of its real estate

Prime located, central London residential property continues to retain its shine not only from an international perspective but also in regard to South African investors, says Dr Andrew Golding, CE of the Pam Golding Property group.


“Against a backdrop of the Eurozone crisis, the London market remains resilient and appealing, and continues to perform well with sound growth both in terms of capital values and rental yields.  For decades cosmopolitan London has held strong appeal for international buyers not only as a globally acclaimed, sought after destination but also as a safe haven, particularly among high net worth investors worldwide. Demand outstrips the supply of housing stock generally, further boosted by the fact that since the year 2000 an additional 400 000 jobs have been created in London across a broad range of sectors. This is coupled with the fact that London offers broad benefits as a desirable place to live and work,” says Dr Golding.


According to Savills UK research department, in 2011/2012 overseas buyers accounted for one third of buyers in all prime London property and 58 percent in central London. Overseas buyers are even more important to the development market, where approximately 65 percent of purchasers in prime London and 70 percent in prime central London are from overseas.  The report goes on to say that two thirds of overseas buyers across prime London are purchasing their main residence, and in central London the figure is just under half. In recent years prime central London has seen the strongest recovery, with prices averaging 22 percent above their third quarter 2007 levels.


Savills also report that a record number of London homes worth £5 million plus changed hands in 2012 as demand for the capital’s residential real estate remains strong despite increased taxation announced in the UK’s spring Budget.


Comments Jane Clough, London sales manager for Pam Golding Properties International & Projects Divison: “Traditionally, London has proven a popular location for South African buyers, many of whom have family overseas or require a London residence for part-time business or personal use.


“Currently we are marketing a number of sound investment opportunities which are conveniently positioned, and which comprise lock-up-and-go apartments in accessible price ranges for South African purchasers. Embassy Gardens, on the South Bank of the River Thames in London, SW8 is the centrepiece of an eagerly anticipated development in the heart of the city’s most significant riverside regeneration area, known as Nine Elms.


“Over the past 30 years the South Bank of the River Thames has made an extraordinary transition from industrial heartland to an internationally recognised cultural destination. Today its attractions include the London Eye, National Film Theatre and Royal Festival Hall. This vibrant node extends through Albert Embankment and Vauxhall to Battersea, connecting the old Bankside Power Station (now the Tate Modern), with a new town centre at Battersea Power Station. Vauxhall has already established itself as a fresh, distinctive nightlife destination with an increasingly popular blend of cafes, bars, galleries and nightclubs. As it continues to benefit from a wave of new investment and new public space its vitality and appeal will continue to grow,” adds Clough.


The Embassy Gardens residential development comprises suites, one, two and three bedroom apartments plus penthouses as well as comprehensive leisure facilities including a cinema, pool, business centre, games room, residents’ bar, gym and spa. With landscaped gardens and 24 hour concierge, secure valet parking is also available. A retail component will include cafes, restaurants and Waitrose. Residential units are priced from £655 000. Embassy Gardens is being developed in stages, with approximately 2 000 residential units being brought to market over several years.


In the Regent Quarter in London, N1, just four minutes’ walk from Kings Cross St Pancras underground station, one and two bedroom apartments offers a tranquil oasis with its intricate pattern of alleyways, mews and courtyards set within a thriving district. There are a total of 35 apartments, with prices ranging from £445 000 – some with outside space, and parking is available. The units will be completed in March 2013. In addition to the residences Regent Quarter incorporates offices, a hotel, restaurants and cafes.


Says Clough: “King’s Cross St Pancras underground station serves six different Underground lines, taking you to more than 150 London stations without changing line. With the City and West End only three stops away, nowhere else offers a better place to be based within central London. Kings Cross is undergoing a £2 billion regeneration which in addition to the transformation of the railway station will create a major new cultural hub in London.”


  Comment on this Article

  Please login to post comments

Post to my facebook wall
  
2000
Characters remaining


    Latest Property News
    • 24 Nov 2017
      Demand for secure estate living in Hout Bay has risen sharply in recent years, precipitating a spike in development with estate homes now accounting for 20.24% of the property landscape with the launch of an exclusive new gated development on 26 November adding 20 more units to the existing 1250 estate homes.
    • 24 Nov 2017
      There are some things that money can’t buy – spectacular views from Mouille Point to the V&A Waterfront and a trendy and lively neighbourhood that encapsulates the very best of the Cape Town lifestyle.
    • 24 Nov 2017
      Tshwane’s four-bedroom Mayoral mansion, nestled among ambassadorial residences in the upmarket suburb of Muckleneuk, fetched R5.1 million after spirited bidding at High Street Auctions’ final sale of the year.
    • 23 Nov 2017
      Reserve Bank Governor, Lesetja Kganyago, said that the Monetary Policy Committee had once again decided to let the interest rates remain unchanged with the repo rate at 6.75%, and the prime lending rate at 10.25%.
    • 23 Nov 2017
      As the holiday season approaches, most of us are counting the days until that year-end bonus hits our account. There’s nothing quite like a little bank balance booster to get us in the holiday spirit.
    • 23 Nov 2017
      The Adelphi Centre (now entitled “ARTEM") in Sea Point, Cape Town, is being extensively renovated, and once complete will offer an ultra-luxurious galleria style shopping centre unlike any other seen on the Atlantic Seaboard or in Cape Town.
    • 23 Nov 2017
      If you are looking to sell your home in today’s real estate market, there are certain things that you need to include both inside and outside your house. Today’s generation of home buyers is looking toward a more eco-friendly, energy and water conscious home, and if your house stands out then you are more likely to be able to sell it.
    • 22 Nov 2017
      Most people know of the Community Schemes Ombud Service (CSOS) and that levies must to paid to fund its operations. In this article the experts at Paddocks will address some of the issues that are causing confusion.
        
    X
    Subscribe to the MyProperty Newsletter

    Name  
    Last Name  
    Email Address  
    Email Frequency
    select
    X
    Share this Page

       
    For Sale Property
    Rental Property
    More Options
    About
    Connect with us
    FEEDBACK