Singapore’s recent property cooling measures may be drawing potential real estate investors overseas, and where’s better than London, often considered a safe haven outside of Asia.
From the historic Battersea Power Station, will soon rise an all-new mixed-use development comprising of 3,400 homes, offices, hotels, shops, restaurants and a cinema. The fact that it was a landmark in pop culture, having been featured on Pink Floyd’s 1977 Album Animals’ cover and its cameo role in The Beatle’s 1965 movie Help, may be a draw for the creative types of businesses and professionals the 15.8 ha place hopes to target.
Developerd by a Malaysia consortium of SP Setia, Sime Darby and its national provident fund, the Employees Provident Fund, prices for residential units there will range from £338,000 for a studio apartment and £894, 000 for a three-bedder. In Phase one, 800 units will already be offered, with studios, one-, two- and three-bedroom thrown in the mix.
Just as with real estate investment in most parts of the world, proximity places a big part. The Battersea Power Station is close to the upmarket Chelsea and new tube stations are planned just nearby. Compared to its neighbouring Chelsea where property prices are three times higher, this may be an opportune time for those who have investment money to spare or simply good timing.
Mr Tincknell, chief executive of Battersea Power Station Development Company is expecting to welcome residents into its midst as early as 2015 and future rapid development within the following 2 to 4 years. It may soon be a bustling enclave where you wished you had gotten a piece of the action earlier on.