Property developer Eastern & Oriental has recently unveiled its maiden overseas project -- Princes House in Central London.
Located in the prestigious Borough of Westminster, the project comprises 20 residential units and 34 serviced apartments within a 1920s neo-classical building, which is being renovated and refurbished by E&O. It is expected to be completed by 2016.
The serviced apartments are slated for en-bloc sale to institutional investors, while the residential units are priced at £1,800 psf, or about RM9,844 psf. Units include compact studio apartments (428 sq ft), one- to three bedders and a single penthouse (2,714 sq ft).
“E&O’s first venture overseas is an exclusive niche offering and we are confident the combination of product, location and pricing anchored on E&O's established brand capital will garner positive response at an opportunistic time to invest in London,” said Group Managing Director Dato’ Terry Tham Ka Hon.
The prime freehold building along Kingsway road is also near Covent Garden, the Royal Opera House and many of West End’s renowned theatres.
“We anticipate that these serviced apartments and residential units at Princes House will find a ready rental and sale market given its proximity to the University of London, London School of Economics and Inns of Court where student accommodation is always highly in demand,” he added.
Meanwhile, E&O reported a profit after tax of RM65.3 million for the nine-month period ending December 31, 2013. Its adjusted revenue also stood at RM344.0 million after incorporating proceeds from jointly-controlled projects, such The Mews serviced apartments in Kuala Lumpur, where it has teamed up with Japan’s Mitsui Fudosan Residential Co Ltd.
via:http://www.propertyguru.com.my/property-news/2014/2/11936/e-o-spreads-its-wings-to-london
Located in the prestigious Borough of Westminster, the project comprises 20 residential units and 34 serviced apartments within a 1920s neo-classical building, which is being renovated and refurbished by E&O. It is expected to be completed by 2016.
The serviced apartments are slated for en-bloc sale to institutional investors, while the residential units are priced at £1,800 psf, or about RM9,844 psf. Units include compact studio apartments (428 sq ft), one- to three bedders and a single penthouse (2,714 sq ft).
“E&O’s first venture overseas is an exclusive niche offering and we are confident the combination of product, location and pricing anchored on E&O's established brand capital will garner positive response at an opportunistic time to invest in London,” said Group Managing Director Dato’ Terry Tham Ka Hon.
The prime freehold building along Kingsway road is also near Covent Garden, the Royal Opera House and many of West End’s renowned theatres.
“We anticipate that these serviced apartments and residential units at Princes House will find a ready rental and sale market given its proximity to the University of London, London School of Economics and Inns of Court where student accommodation is always highly in demand,” he added.
Meanwhile, E&O reported a profit after tax of RM65.3 million for the nine-month period ending December 31, 2013. Its adjusted revenue also stood at RM344.0 million after incorporating proceeds from jointly-controlled projects, such The Mews serviced apartments in Kuala Lumpur, where it has teamed up with Japan’s Mitsui Fudosan Residential Co Ltd.
via:http://www.propertyguru.com.my/property-news/2014/2/11936/e-o-spreads-its-wings-to-london
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