Bt39m start to UK investments
SINCE UK citizens voted last June to leave the European Union, the pound sterling has fallen by almost 20 per cent against the baht, making it cheaper for Thais to purchase properties in Britain.
As a result, more Thais are now looking for an opportunity to invest in UK real estate and in the London condominium market in particular, said Maarten Prins, head of international residential property services at JLL Thailand.
Berkeley Homes, one of Britain’s best-known developers, in association with JLL is hosting a property exhibition in Bangkok today and tomorrow introducing West End Gate. Set in one of London’s most prestigious areas, West End Gate is an exclusive condominium development with prices starting from 905,000 pounds (Bt38.8 million) for a one-bedroom apartment.
The development was designed for Berkeley Homes by architects Squire & Partners.
The first limited release of apartments, set in the dramatic Westmark Tower, are a collection of stylish Manhattan suites and one-, two- and three-bedroom units, the majority of which feature balconies.
At 30 storeys, the tower is the tallest of the buildings at West End Gate and provides sweeping views across London. Set adjacent to the red-brick mansion blocks that complete the development, the architecture is a beautiful blend of tradition and modernity, JLL says.
Buyers who purchase a unit at West End Gate and put it up for rent can expect investment yields ranging between 3 and 4 per cent per annum, the firm claims. However, most buyers are likely to put a greater focus on a potential capital gain in the long term, as residential prices in London are likely to continue to rise on strong demand for and a structural under-supply of new homes. “This huge gap between demand and supply is likely to persist for at least another five years,” Prins said.
Simon Howard, sales director for Berkeley Homes Central London, said: “West End Gate perfectly captures the essence of London living, combining the best of old and new in its design and location.
“These new apartments are ideally placed to enjoy everything London has to offer, from the excitement and bustle of the West End’s nightlife to the waterside cafes of Little Venice and the rich culture of stylish Mayfair. West End Gate offers an exciting opportunity for homebuyers and investors alike.”
