According to the latest reports, the London property market, fuelled by international investment, is surging, with asking prices in the British capital reaching near record levels. It's a trend that looks set to continue, because although Britain's economy is stagnant and unemployment levels are at their highest in 16 years, there simply isn't the supply of upscale properties in central London where demand is greatest. This isn't necessarily the case in the rest of the British housing market, but overseas investors, looking for political and economic stability in the wake of the Eurozone crisis, have put London in addition to New York at the top of their wish lists. One recent report predicted a 140 per cent property value growth in the short to medium term.
One central London development that has sparked enormous interest is Embassy Gardens, a riverside complex from Ballymore, one of the leading urban regeneration specialists in Europe, who are also behind the acclaimed Pan Peninsula in Docklands. Hongkongers make up a significant percentage of Ballymore's clientele, and the London-based developers, in harness with Jones Lang LaSalle, will host the world premier sales launch of Embassy Gardens here at the Landmark Mandarin Hong Kong from 20-22 April.
Where is it?
With an enviable central location on the banks of the River Thames and close to London’s cultural Southbank, Embassy Gardens takes in spectacular views of Westminster to the east, Chelsea and Pimlico to the north and is just steps away from London’s most expensive residential communities.
The development is part of Nine Elms in the borough of Wandsworth and is the largest regeneration project in central London. To add to the prestige, the US Embassy will be moving from its current site in Mayfair to the Nine Elms site by 2016. The area has had enthusiastic support from the Mayor of London, Boris Johnson, who describes Nine Elms as “a catalyst for economic growth and regeneration on that side of the river."
Transport links are good. The Zone 1 Victoria Line on the Underground can be accessed at Vauxhall along with a bus station and is a six minute walk away. Two new proposed Northern Line tube stations are planned for the area and will link residents to The City and Leicester Square in 20 minutes. Waterloo station can be accessed via Vauxhall station which then connects with most major lines. London’s main international airports are all within one hour of the site.
