Real Estate Press Releases Friday March 9, 2018 15:46
Bangkok--9 Mar--Passion2Success

Malaysian conglomerate, AlloyMtd Group, will launch residential sales of the South Tower at One Crown Place, a major new mixed-use scheme in the heart of London. Thai buyers will be the first in Asia to take advantage of its exclusive new unit release. During the 10th – 11th March, there will be an exclusive sales exhibition at Anantara Siam hotel in Bangkok. Registration and more information can be obtained through CBRE.

Located in London's historic Sun Street conservation area, the development is set to deliver a total of 246 private apartments, a boutique hotel, 130,007 sq m (140,000 sq ft) of premium office space, retail units totalling 650 sq m (7,000 sq ft) and a historic Georgian terrace that will be fully restored as part of the scheme. An enticing selection of units will be available at launch, with prices starting from THB 39,500,000 (GBP888,000) for a one-bedroom apartment. The first residents will move in to One Crown Place upon completion at the end of 2020. At present the demolition and foundations of the project have been finished on time, with the full basement depth having been excavated. The entire development is on schedule to be completed at the end of 2020.

Following the recent Bangkok press event of One Crown Place, Mr. Henry Robinson, Development Director for One Crown Place, said: "The press event three weeks ago was extremely well attended and exceeded our highest expectations. This proved to us that the quality of this development is perfectly aligned with what Thai purchasers appreciate. Apartments in this release start from just THB 38.7M through to THB 377M for a Sophie Ashby designed penthouse. However, the development, as anticipated, has proved to be extremely popular with both owner occupiers, whether they are buying for their own use or for the benefit of their children who are studying in the UK, and it has been equally popular with investors due to the strength of the predicted capital growth of 16.7% as well as the rental yields which are predicted to exceed 5%. We anticipate a very successful and well-attended exhibition this weekend."

When examining all the factors that contribute to market growth in High End Residential apartments in central London, a very positive picture is formed. CBRE Residential research has estimated that between 2017 and 2021 there will be a rise of up to 16.7% in capital growth. This is a considerably higher return than other assets, such as gold, oil or the stock market, are predicted to deliver. London residential investment has continued to outperform all other asset classes over the medium to long term and has proved to be a very resilient and tangible investment vehicle. The main reasons Thai and other investors from around the world prefer to invest in London real estate are that it is a safe haven with a transparent legal system, having a time zone well-positioned for international communications and commerce, the supply of units not meeting demand, London's rich cultural history and the internationally used language of English. Recently, the number of Asian investors has also increased markedly due to changes in the exchange rate of the pound.

UK law makes it easy for foreign investors to invest in properties. Holding a leasehold ownership with a length of 999 years is very appealing and has resulted in the UK property market not only attracting people looking for a residence. It also attracts buyers from around the world focused on investment. Thai investors therefore see an opportunity to profit from buying properties in London, especially those who send their children to study in England. Making up the seventh highest percentage of overseas students in the country, Thai students usually spend at least four or five years studying in the UK, which is an incentive to purchasing rather than renting. After their graduation, it is possible to make a profit from the sustainable long-term capital growth in the London real estate market.

Mr Tee Kim Siew, Chief Executive Officer of AlloyMtd Group, said: "We can confidently say there is no better place to benefit from such high calibre local occupiers which are also some of the city's top employers, such as UBS, Linklaters, Bloomberg, RBS, Deutsche Bank, Cisco, and ING, to name a few. This will ensure that the building enjoys exceptionally high rents and low rental voids, not only at present but in the future. London's financial district has a surprisingly low population with only 8,000 residences, but with the transformation of this area's restaurant and culture we are seeing that the bankers and lawyers are opting to stay within the city of London rather than in more traditional areas such as Kensington and Chelsea. Consequently, One Crown Place is set to become a vibrant destination seven days a week. Ideally placed for local transport links, with the new Crossrail route (Elizabeth Line) opening this year, it is 33 minutes from Heathrow Airport and a mere 7-minute trip to the high-end shopping of Bond Street. Broadgate Circle, Old Street's Silicon Roundabout, Spitalfields Market and Shoreditch's creative hubs are all within walking distance, as are leading universities in the city. Thais will be among the very first to have the opportunity to purchase these superb units in this dynamic and sought-after location."

Designed by award-winning international architectural practice Kohn Pedersen Fox Associates (KPF), One Crown Place includes two striking terracotta clad towers, the tallest of which is 33 storeys high, and a beautiful restoration of the last remaining Georgian terrace in the area, which will house a clubhouse for the residents and a 5-star boutique hotel. One Crown Place will provide residents with world-class amenities within the security of a 24-hr concierge, promoting both a shared sense of community and privacy. Amenities include a state-of-the-art gymnasium, a private dining room, residential lounge, cinema, treatment room, studio and a sharing terrace. Each apartment provides residents with a series of light-filled spaces that are warm yet glamorous. Interiors are designed in collaboration with world-famous firms B&B Italia and Arclinea, who will be producing the kitchens and wardrobes for all the units within One Crown Place, which will undoubtedly set new standards in the already exceptional high quality in the residential development world. The communal spaces and apartments at One Crown Place have been designed by renowned interior firm Bowler James Brindley while the development's nine penthouses and the private residential amenity facilities have been designed by Sophie Ashby's Studio Ashby.

One Crown Place is a development by AlloyMtd Group, with CBRE acting as development manager and sales broker for the residential and commercial units.
About AlloyMtd Group

AlloyMtd Group is a multinational infrastructure-based company headquartered in Kuala Lumpur, Malaysia. It is active in 15 countries with investment portfolios in properties and real estate, civil engineering and construction, manufacturing of precast related products, infrastructure concessions (ranging from tolled highways, ports to IPP) and operations and maintenance. AlloyMtd Group is an experienced player in the property development sector on the Malaysian and overseas fronts. Its portfolio includes overseas property development in Blue Horizon Resort, Airlie Beach; Whitsundays, Quensland; Six Murphy Street in South Yarra Melbourne; and Tanduk 5 Residency, a boutique development in Bangsar, Malaysia, Calabarzon Regional Government Centre (CRGC) in Laguna, Philippines. Development in the pipeline includes Damansara Heights Residences and Rockley in Toorak Road, South Yarra, Melbourne.

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About CBRE Group, Inc.

CBRE Group, Inc. (NYSE:CBRE), a Fortune 500 and S&P 500 company headquartered in Los Angeles, is the world's largest commercial real estate services and investment firm (based on 2017 revenue). The Company has more than 80,000 employees (excluding affiliates), and serves real estate investors and occupiers through more than 450 offices (excluding affiliates) worldwide. CBRE offers a broad range of integrated services, including facilities, transaction and project management; property management; investment management; appraisal and valuation; property leasing; strategic consulting; property sales; and development services.

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About KPF

Kohn Pedersen Fox Associates is an international architecture practice with offices in London, New York, Hong Kong, Shanghai, Seoul, and Abu Dhabi. Since its foundation in 1976, KPF's extensive portfolio has included urban masterplans, public infrastructure, airports, offices, and civic buildings in more than 40 countries. Earning the firm recognition as one of the most respected architectural design practices in the world, KPF has received numerous prestigious awards on the basis of their design excellence, innovation, and intricate schemes.

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About Bowler James Brindley

Bowler James Brindley was established in 2014 by Lucy Southall, Stephen Crawley and Ian Bayliss. Having all held positions at the highest levels in the interior design industry, they believed it was time to join forces. Their client list includes leading hotel operators, elite residential developers and bespoke bar and restaurant owners. BJB are currently designing residential and hospitality projects in London, Barcelona and Belgrade. They are London based and the company draws on and reflects this dynamic, compelling city – displaying an attitude of eccentricity, understatement, quirkiness and inclusion.

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About Studio Ashby

Founded in 2014, Sophie Ashby founded her Notting Hill-based interior design and creative direction practice at the age of 25. Studio Ashby's diverse roster of projects include a townhouse in Chelsea for a young Italian family, a luxury boutique hotel in South Africa, a penthouse in Battersea, a rambling country house in Somerset for the actress Gabriella Wilde and her young family, a Nigerian influenced restaurant in Mayfair and a development in Mayfair with Native Land. Studio Ashby were shortlisted for the International Interior Designer of the Year 2015 and have been nominated in 2016.

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