Friday, July 20, 2012

Canary Wharf lures Singaporeans

The Canary Wharf area of London (pictured) has been attracting Singaporean property buyers and investors in every increasing numbers.

This weekend the latest development from the area – Lincoln Plaza – is being exhibited at the Conrad Centennial Hotel. Yet even before the event marketing had started, Singapore agent Jones Lang LaSalle (JLL) was reporting a significant number of transactions.

Developer Galliard Homes is no stranger to the region. Daniel Dias, Business Development Director for the company, speaking exclusively to PropertyGuru at yesterday’s VIP cocktail and seminar event, said: “We have many hundreds of customers from Singapore and Hong Kong,” adding that between 15 and 20 percent of Galliard Homes’ customers come from the Far East.

Galliard Homes, as well as developing the project, is also an agent and offers buyers a management solution with guarantees and a flat fee. “We’re still looking after properties we developed 20 years ago,” said Dias.

Jon Neale, Director of Residential Research for JLL's London office was also in Singapore for this weekend’s exhibition. Singapore has seen growing numbers of property exhibitions for UK developments, with more projects from outer areas of the capital trying to tempt local buyers. But Neale says that’s not a trend he thinks will continue.

“Actually I think the opposite is happening,” he told PropertyGuru. “The market is a lot more discerning and there is still a firm focus on the broader central area.”

Lincoln Plaza is located in the east of London and a 10-minute walk to Canary Wharf. It offers a selection of one-, two-, and three-bedroom apartments, as well as a private cinema and snooker suite as part of the development. Its proximity to transport links, including the forthcoming Crossrail development, is also a key selling point. Prices start at £249,995 (S$492,716).

The property is being exhibited from today till Sunday July 22 between 11am and 7pm at Conrad Centennial Hotel, Grand Salon Level 2.

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