Thursday, March 29, 2012

London property boom benefiting other sectors

The popularity of London as a property investment destination for overseas buyers has seen benefits in other industries. With more than half of London’s most expensive residential property sales being attributed to overseas buyers last year, the shipping of fine art and antiques has become a serious growth business for Anglo Pacific.

Anglo Pacific, a specialist packing and transportation company, is one such company that has seen serious growth on the back of foreign property buying interest in London. The company is the number one choice for many antique dealers, museums, interior designers and even royalty.

Long-term Anglo Pacific client, Andy Parmiter, Director of London-based interior concept management company Viventi Solutions, explained: “Currently, not one of our clients is a U.K. national. We are dealing with ultra-high-net-worth individuals from Russia, South America, Azerbaijan, Pakistan, China, Singapore, and so on who see the value of choosing the U.K. for long-term investment. They want to hand over responsibility for designing and furnishing their overseas assets, and for Viventi Solutions that often means a good deal of international shipping.  As most of these investors’ exquisite paintings and antique furniture are literally priceless, we turn to Anglo Pacific’s specialist fine art shipping division for a safe pair of hands.”

As the debt crisis continues to unfold in the Eurozone, London’s accessibility, status as a finance centre, fair legal and political system and pound sterling are all seen as plus points for investors. The Olympic effect has also helped focus the spotlight on London.
Such is the influx of foreigners that estate agent Colliers believes that prices will rise in core central and high-end residential districts by between five and 10 percent during 2012, bucking the overall U.K. trend.  According to Jones Lang LaSalle, nationals from the Middle East are now taking nine percent of market share for residential property purchases in London, and are fast catching Asia-Pacific’s 15 percent.

Terry Horsnell, Anglo Pacific’s Fine Art consultant, said: “Having been in the business for 30 years, Anglo Pacific has mastered the vagaries of the various draconian customs and import laws around the world and can really add value to clients such as Viventi Solutions.  For example, we recently gathered together on their behalf items bought at auction in Amsterdam, Milan, Limassol and New York, and had them specially wrapped and cased for storage in London prior to delivery to the client’s residence. Viventi Solutions know that we’ll handle the customs and, most importantly, the pieces will not get damaged. This is invaluable when dealing with this calibre of client.”

View the original article here

Source From Property Guru

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