London bargains attract overseas investors

London property bargains are once again attracting overseas investors, with Barratt reporting bulk purchases at three current developments in the capital.

Investors from Singapore have recently snapped up a batch of nine apartments at the new Dalston Square development in Hackney, east London, while Hong Kong buyers are purchasing at Maple Quays, a new Barratt project in Rotherhithe, south-east London.

In Kennington, SE11, a number of Malaysian investors have purchased a batch of apartments at Kennington Park Square – a new Barratt development within strolling distance of Parliament - and recently, a South African investment company bought a total of seven homes at Parkside, a sell-out development in Wandsworth, south-west London.

“Despite the recession, this fresh international investor activity proves that London has lost none of its appeal as one of the world’s most attractive capitals,” said Barratt London managing director Alastair Baird.

“With a shortage of quality new homes and prices at a historically low level, these canny investors are judging that now is the time to buy on the London market. For the first time in several years, they are buying here in London, right now.”

He added: “While no one can predict what the market is going to do, it is always illuminating to follow the choices and movements made by the overseas investor community.”

Dalston Square in Hackney, E8, is not only one of London’s key strategic regeneration schemes; it offers some of the best value new homes in the capital, with one-bedroom apartments starting at under £250,000.

With one-bedroom apartments extending up to a massive 832 sq ft – that’s actually larger than many modern three-bedroom/two-bathroom houses – Dalston Square offers space standards that are now rare in the capital.

Kennington Park Square is in London SE11, close to the fringes of central London’s Zone 1 on land bounded by Black Prince Road and Kennington Road. The striking new development offers one-bedroom apartments for sale at prices starting under £265,000.

Maple Quays in Rotherhithe, SE16, is one of the best-selling new developments in London, with a first phase already sold ahead of the building programme. Now Barratt has bought forward the second phase of 186 new apartments – Montreal House - to keep pace with demand. Prices start from £250,000 for one bedroom apartments.

Another investment opportunity which is already attracting interest is St Andrews, a major new development of apartments on the edge of the Olympics zone in Bow, E3, where prices will start at under £200,000. The development will be launched in June 2009.
All Barratt apartments come equipped with fully-fitted bathrooms and open-plan living/dining spaces complete with fully-fitted, integrated kitchens.

For details of all three developments, see barratthomes.co.uk.