Monday, January 21, 2013

Triple digit Singapore sales for Battersea Power Station


Jan 21, 2013 - PropertyGuru.com.sg

EXCLUSIVE: More than one hundred units at London development Battersea Power Station (pictured) were snapped up by Singaporean property buyers and investors in just one day, in what the developer and agency said were record levels of interest for a London property development in the city-state.

Saturday sales at the exhibition reached “triple digits” according to Andrew Jones, Sales and Development Consultant for the developers, and more sales were expected at the second of the two-day event yesterday. Last week it was revealed that more than 600 of the 800 units in the first phase of the iconic London development had been sold to buyers from the UK and Southeast Asia.

Heavy rain throughout Saturday failed to dampen interest in the much-anticipated development. Speaking exclusively to PropertyGuru before the second day of sales, Rob Tincknell, Chief Executive Officer of Battersea Power Station Development Company, said he wasn’t totally surprised with the exceptionally high levels of interest.

“It’s what I expected based on the high levels of interest we saw in terms of pre-registered interest.”

Tincknell added that buyers’ confidence was swayed by the consortium backing the project – Malaysian developers SP Setia and Sime Darby along with the Malaysian Employees Provident Fund.

Doris Tan, Head of Residential International Project Sales at Jones Lang LaSalle (JLL) in Singapore, told PropertyGuru: “We’ve seen unprecedented levels of interest in Battersea Power Station from property buyers and investors this weekend. It’s been the most successful Singapore sales of any London project I’ve seen.”

The Battersea Power Station road show now heads to Hong Kong for a similar property exhibition next weekend. Although close to 90 percent of units that have been released in the Circus West first phase have now been sold, Tincknell admitted that some units had been kept back for buyers there.

The Battersea Power Station's Jones added that the next phase of units is currently planned for release in September this year.


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