Unprecedented activity is being reported across London with buyers taking advantage of Rishi Sunak’s stamp duty holiday.
The main target market is well located residential stock in the £500,000 to £700,000 range.
As it becomes obvious that we are at the beginning of a market surge, driven from the bottom, upwards, the wealthier investors are starting to flock in. Developers are quickly closing on land deals with the expectation of much higher prices next year.
The listed Hong Kong property company CC Land announced a £182 million investment into a joint venture redeveloping a site opposite Kensington Gardens.
CC Land’s Chairman, Cheung Chung Kiu’s family office also announced the record purchase of 2-8a Rutland Gate, a 45-bedroom house, purchased for private use at £210M.
The house was owned by a Saudi Prince and according to Bloomberg, Cheung has not yet decided whether he retains it for personal use or redevelops it at a Projected value of £500 million to £700 million.
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