Dubai -based real estate property advisory and consultancy Sherwoods International Properties will be showcasing four exciting international residential projects at this month’s Cityscape exhibition.
Sherwoods International Properties will be offering two prime central London properties: the 129-unit Westminster-located The Courthouse, and Providence Tower, situated in the financial heartland of Canary Wharf; plus a duo of Swiss residential investments, close to the tourist attractions and commercial centre of Geneva.
According to real estate research and consultancy firm, Jones Lang LaSalle, Arab investors accounted for 15% of all central London residential sales in 2012, led by GCC investors.
“Traditionally luxury properties in Mayfair and Knightsbridge were favoured, but with average prices now well above AED9 million, many GCC investors are now putting return-on-investment ahead of trophy assets. They are actively looking for properties, some in regeneration areas, that offer great value, such as Canary Wharf, where average property prices start around AED3 million,” added Iseeb Rehman, CEO, Sherwoods.
Market performance over the last 30 years has seen London city centre prices rise by an average of 8.9% per annum, as noted by Jones Lang LaSalle, which combined with a conservative estimate of 4% per annum income return, offers total returns in excess of 12% per annum, thus ensuring that the UK capital remains a prime investment destination.
“Both London and Switzerland, which is also a preferred investment location for Arab investors, offer a transparent and well-regulated real estate investment market with relatively little red tape involved, especially at HNWI investor level,” said Rehman.
Situated just a stone’s throw from Westminster Palace, The Courthouse offers prospective investors a rare opportunity to purchase real estate in London’s most privileged postcode. The luxury new build project, which is due to be completed in second quarter 2014, will be home to 129 studios, one to three-bedroom apartments and five penthouses with a select number of units commanding unrivalled views of Big Ben and the Houses of Parliament. Onsite facilities will include a fitness suite, private courtyard garden and porter service.
Investors looking for a contemporary pied-à-terre and the fast-paced lifestyle of East London’s vibrant financial district of Canary Wharf, will be able to preview the 36 high spec apartments located in the 43-storey Skidmore, Owings & Merrill-designed Providence Tower project. Tipped as one of the most exciting investment opportunities in Europe, the building will be ready for occupancy in Q4 2015, and will have 24-hour concierge service, a fully managed health club with lap and Jacuzzi pools, running track, a holistic spa, business centre and 43rd floor Sky Lounge.
“London residential property has also become even more attractive in the last 12 months following the clarification of the tax position of overseas owners, with HNWI investors from the Middle East also able to make use of investor visas that come with residency upon purchases of a minimum of £1 million worth of gilts or shares and bonds in UK companies,” said Iseeb.
The two Swiss investment projects are located in the countryside close to the busting city of Geneva. Le Sequoia residence is a community of 15 two and three-storey apartment buildings plus two detached houses. The project is being built to the highest levels of environmental and sustainability standards, with plenty of landscaped green spaces and underground parking to minimise the impact on the surrounding nature. Buyers looking for the ultimate in upscale exclusivity will also have the opportunity to get information on Les Villas d’Hermance, a gated villa development with just 20 properties available for sale.