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Qatar’s property market maturing well AFP’s project under highly accelerated construction plan Realty Capital announces completion of 5th podium of i-Rise |
Westminster Bridge Park Plaza recieves overwhelming response
- July 5, 2006, 9:11 am
Leading international property services company, Sherwoods Independent Property Consultants sold £5.1 million worth of apartments at a four day roadshow held in Abu Dhabi and Dubai from the 21-24 June.
Sherwoods expect to achieve in excess of £8 million worth of sales overall due to the extensive interest from the roadshow. Sherwoods formed a partnership with the prestigious British developer, Galliard Homes to launch Westminster Bridge Park Plaza, London’s largest Aparthotel, the first of its kind to be released to the Middle East market.
Hamilton Butcher, International Sales Manager of Sherwoods comments, ‘We are very excited to have formed this partnership with Galliard Homes and that we are their exclusive agents in the Middle East. Our roadshow attracted many investors, resulting in the first phase being completely sold out. 85% of the apartments have been sold and we are now releasing a second phase due to demand.
Westminster Bridge Park Plaza is located in London, the host city of the 2012 Olympic Games which offers an added attraction due to the positive impact Olympic Games have on house prices. Each of the previous four host cities have seen house prices rise by more than the national average over the five years running up to the games. In addition, the Aparthotel is also located within the most exciting regeneration area in central London, Waterloo.’
Westminster Bridge Park Plaza will be managed by the world class hotel brand Park Plaza Hotels & Resorts, who will let and maintain the properties. It will be a luxurious five star specification Apart-hotel situated directly opposite London’s largest tube and rail transport hub. The hotel will consist of 900 studios, one bedroom and two bedroom Aparthotel suites, all being available with a 999 year lease.
All properties will have access to an array of five star hotel facilities such as a 24 hour concierge service, one of London’s largest conference rooms, business lounges, executive meeting rooms, a ballroom, 2 restaurants, swimming pool, a health club and more.
Galliard Homes offers two excellent investment packages: a guaranteed rental return of 6% for a period of five years after completion in 2010, or a ‘Pied á Terre’ package entitling the investor to use the apartment for up to 30 days per year with a 5% guaranteed rental return for a period of five years after completion. Any funds that have been deposited on the properties are protected in an escrow account until completion and will also earn 6% interest per annum. Forecasted net income after the five years rental guarantee is in excess of a 6% yield.
Prices for the Aparthotel suites start from £252,000.
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