Wednesday, 14 September 2016

DESPITE BREXIT, UK WELCOMES TALLEST RESIDENTIAL TOWER

Sometimes in life, no matter how much hate, slander, backstabbing and gossip you get from people, you will be amazed to find even another large number of GENUINE people who are still willing to stand by you and love you even more, irrespective of how much mud have been smeared on your person/image by those haters especially when you must have done some kind of ‘good’ in the past.

I remember a few years back when some banks were blacklisted and news about them folding up or ‘going under’ all over the airwaves, a lot of marketers from the competing banks started ‘demarketing’ these blacklisted banks in a bid to get their clients into the supposed ‘still-standing’ banks at the time but some of these clients refused as they remained loyal to their banks that many of them said “helped to kick-start my business with small loans”. Now, that is what I call loyalty!

And so, even though it’s not exactly the same or vivid picture as painted above, Greenland Group, a Chinese firm, inspite of the Brexit which took place in UK a few months back, is set to build the tallest residential tower in western Europe in the UK. About a week ago, this China’s biggest private property company unveiled plans for the 771-foot tall, 67-story Spire London in the Docklands neighborhood in the east of the city, which will have 861 apartments, of which 765 are for private sale. They include suites, one, two and three-bedroom apartments, and three-bedroom duplex penthouses. What a huge project!

Talk about ‘belief’ in a good economy to invest. Just when you thought many would leave with their business investments, others are juggling for space to invest.

According to a report by Kathryn Hopkins in Mansion Global, “The recent wave of Chinese investment into London property showed no sign of slowing down despite the Brexit decision as Greenland Group announced plans to build the tallest residential tower in the U.K. and Western Europe”.

The report says the £800 million skyscraper will not only have views of the River Thames, Canary Wharf, the City of London and far beyond by residents but will in addition also provide a concierge, retailing, a residents’ gardens and other five-star lifestyle amenities, including a 35th floor Spa and Club Bar just like found in hotels.

The building construction which is already underway, as understood, is expected to be completed by the year 2020 with apartments priced from around £595,000 to £3 million and CBRE and JLL with two global real estate agents as sales agents.

“The move comes despite concerns that demand for upmarket London homes is slowing after the country voted to leave the European Union earlier this year. A double whammy of higher sales tax has also been weighing on demand”.   

“This tower will be Western Europe’s tallest residential building and underlines London’s enduring status as a world-class city and destination,” said Yuliang Zhang, chairman and president of Greenland Group. “This is Greenland Group’s most important project in Europe, and will deliver exceptional new homes for Londoners.”
However, there are speculations that this move with the skyscraper “could reignite controversies, too”. Nevertheless, the report says it is also expected that just like several other buildings in the capital, “there will be separate door for affordable housing tenants, dubbed ‘poor doors’, who will occupy 96 apartments”.

And so, UK still got investors in its terrains.

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