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Buyers look beyond London
Overseas property buyers and investors have been looking beyond London as they try to look for better returns that the United Kingdom capital is currently offering.
One project that has sold well in Singapore, Hong Kong and China, as well as at home in the U.K., is Grand Central (pictured) in Cambridge by leading house builder Weston Homes. The development of 143 new homes in situated right the heart of Cambridges technology and science district.
At least 11 Singapore investors have purchased units at the property, according to data supplied to PropertyGuruGroup, with another 18 buyers coming from Hong Kong and 2 from mainland China.
With a mix of one- and two-bedroom apartments and duplexes and two- and three-bedroom houses, Grand Central is set to be Cambridges most desirable address due to its luxurious finishes, high specification and fantastic location.
Bob Weston, Chief Executive Officer of Weston Homes, said: Cambridge is a highly desirable University town which has attracted purchasers from around the world for many years.
The history, lifestyle opportunities and steady market has led to it becoming a hub for science and technology, attracting high level experts in the field and further enhancing its appeal for investment.
We have already received a high level of interest from those looking to purchase a home at Grand Central.
The scheme is in an ideal location for professionals, students and commuters into London, and is situated right next to the Cambridge Leisure Park which provides an array of leisure facilities and restaurants.
Cambridge, about an hour to the north of London by car, is home to one of the worlds finest Universities and, in recent years, has transformed into a scientific and technological hub. It is now home to Microsoft, Research UK, Cancer Research UK and MRC. In addition, pharmaceutical giant, AstraZeneca will be moving its 330 million headquarters to the area in 2016.
Cambridge, and the surrounding area, is home to more than 1,500 technology-based companies employing 57,000 people, and is the fastest-growing sector in Cambridge with giants such as Amazon, Spotify and Apple also expanding in the city.
Grand Central is set in 2.92 acres of grounds across 14 blocks, with a build programme of two years.
The first phase of homes will be completed in early 2016. Apartments will range in size from 548 sq ft to 858 sq ft. Houses will range from 680 sq ft to 983 sq ft.
Prices start from 340,000 for a one-bedroom apartment, 400,000 for a two-bedroom apartment, 425,000 for a two-bedroom house and 540,000 for a three-bedroom house.
Andrew Batt, International Group Editor ofPropertyGuru Group, wrote this story. To contact him about this or other stories emailandrew@propertyguru.com.sg
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