London’s Dukelease looks at Middle Eastern investors
Dukelease, one of the most respected property development companies in UK with a focus on Prime Central London is currently looking at Middle Eastern investors for its latest Hop House project.
Hop House is a collection of luxury apartments and duplexes spread over six floors, with a penthouse occupying the entire fourth and fifth floor. This former 1980s office building has been completely transformed into a stunning range of one, two and three-bedroom luxury apartments. Only a few apartments remain for sale, the price range starting from AED9.34 million.
London has been a potential market for Middle Eastern investment due to its safe, open-minded multi-ethnic surrounding offering a good choice of lifestyle options thereby making an attractive choice of location to purchase a home. With a desire to diversify portfolios outside the Middle East and focus on mature overseas markets, Middle Eastern buyers chose London out of every other city in the world.
Investors looking to capitalize now on this growth should consider Dukelease’s Hop House development, 29 luxury apartments, in the heart of Covent Garden moments from the world famous Piazza.
Richard Leslie, CEO, Dukelease comments, “Covent Garden is experiencing huge growth at the moment and more than ever offers international appeal. Hop House is the latest addition to our portfolio of prime central London properties and offers a great return on investment for both rental and capital growth purposes. We have had a lot of interest from Middle East investors wanting to buy property in London, as their own base in the capital or to rent out to the local market. The majority of apartments at Hop House have been sold off plan to a mix of investors and homebuyers seeking an ideal central London base. London attracts people from around the world, due to its transparent legal system, stable political economic environment, liquidity and universal language.”
In London, Covent Garden is booming. Retail rents for shops and commercial space has hit an all time high, as upmarket brands clamour for space. The recent overhaul of Henrietta Street has seen new retailers drawn to the area pushing up rental prices with the arrival of Italian cosmetics brand Kiko, British menswear designer Nigel Cabourn and Japenese denim store The Real McCoy’s. As a result the residential property market is also thriving.
According to reports, Middle Eastern investors buying in London has increased from 7.5 per cent in 2012 to 17 per cent in 2013, with London recording the highest ever yearly total seen in Europe for a single city in 2013 to cement its position as the region’s number one investment destination.
Conveniently located for some of London’s finest shops, restaurants, bars and theatres, Hop House is situated between the Piazza and St. Martins’ Lane and close to Covent Garden Opera House. The surrounding area, like the development’s location, retains a village-like charm, yet is still very much in the thick of things. The building, which is situated within Covent Garden Conservation Area, has been extensively converted and skilfully combined, with a re-modelled exterior and high specification interiors.
“Hop House has been named to reflect the hops that were once cultivated here. The entire development has been designed around a spa theme, from the grand entrance and lobby, to the beautifully appointed apartment interiors, offering relaxed, contemporary living amid some of London’s most historic and popular streets,” added Richard.
Offering the very best in Central London living, Hop House is located in the heart of Covent Garden WC2, a destination for food lovers and fashionistas alike, and just moments away from Leicester Square Underground station. Soho, Piccadilly and Mayfair are a short walk away, while the rest of London is easily accessible via taxis or on the London Underground.