Despite the ongoing uncertainty surrounding the Brexit issue, London has remained the top destination for Asian capital, said CBRE in a report on March 7 2019. Investors from Hong Kong, Singapore, and Korea accounted for 85% of investment activities in the metropolis in 2018.
According to CBRE, about 18% of total Asian outbound capital was poured into London real estate investments last year, compared to 9% into Hong Kong and Shanghai respectively, and 4% into Frankfurt.
London therefore retained its position as the top city for global real estate investment in 2018, followed by New York and Paris, said JLL in its report in January 2019.
Alternative to prime London
One of the main attractions for both locals and international visitors to London is Kew Gardens. Located in West London, Kew Gardens, formally Royal Botanic Gardens at Kew is a designated Unesco World Heritage site and contains a series of gardens covering more than 120 hectares, including, the Kew Palace and Queen Charlotte’s Cottage, - the hereditary properties of Queen Elizabeth II.
Kew Gardens is situated in the Kew area in the London Borough of Richmond Upon Thames, coveted by affluent families owing to its rich history, top schools as well as proximity to parks and gardens. Last year, overall prices in Kew averaged £924,168, up 14% from the previous year, and on a par with average house prices in 2015, according to Rightmove price data.
Just across the River Thames from Kew, is the Kew Bridge area. House prices there averaged £479,187 last year, according to Rightmove transaction data. This is almost half of the average house prices at Kew.
Yet, the Kew Bridge area enjoys the proximity to Kew with all its attractions: Kew Gardens, Kew Village with its Sunday farmers’ market, Watermans Art Centre as well as F&B restaurants such as The Stable, which serves handmade pizzas, and The Glasshouse, a Michelin-star restaurant.
Up-and-coming neighbourhood
Due to the desirability of its location in an up-and-coming neighbourhood undergoing decentralisation, the Kew Bridge area has seen prices increase an average of 48% from 2008 to 2017, according to JLL.
“West London’s growing success as an alternative to purchasing in the prime London market benefits the buyer who sees the value and opportunity of long-term capital gain,” says Ken Dowling, associate director of JLL London.
According to JLL UK in its January 2019 residential report, “West London is forecast to outperform both Greater London and Central London in terms of both sales price and rental growth over the next five years”.
For investors, it is an opportunity to gain a foothold in the up-and-coming area. A new project – and one of the largest in the Kew Bridge area – is Verdo–Kew Bridge, with 910 residential units by EcoWorld London which is part of EcoWorld International.
Besides the residential units, which are a mix of one-, two- and three-bedroom apartments, Verdo-Kew Bridge is a mixed-use scheme that includes a stadium with a 17,200 capacity for the Brentford Football Club and London Irish Rugby Club. The project is located at the heart of the Brentford regeneration zone by the Outer London Fund and near the new marina at Watermans Park.
Greenery, top schools
Verdo-Kew Bridge is just next to the Kew Bridge railway station, which connects passengers to Waterloo station in Central London in only 30 minutes. It is also just a 16-minute drive to Heathrow Airport with easy access to the major M4 and M25 highways.
There are also several renowned universities nearby: The University of West London’s Brentford campus is an eight-minute drive away; the University of Roehampton is a 20-minute drive from Verdo-Kew Bridge; and Imperial College is 40 minutes via train.
For families with children of primary and secondary school ages, schools in the area include Queens Church of England and Groves Park primary schools as well as the Gunnersbury Boys’ School and Green School for Girls. Private schools in the vicinity include Kew House School, St Benedicts School and The Harrodian School.
Verdo-Kew Bridge is located within the London borough of Hounslow, where more than 200 multinational corporations (MNCs) have established their headquarters, particularly along the Golden Mile, making it a hub of substantial investment. They include British pharmaceutical giant GlaxoSmithKline; American grocery food manufacturing and processing company Kraft Foods; and Japanese videogame company Sega. The Brentford town in Hounslow also has a vibrant start-up scene with many flexible work spaces.
Also located nearby is Chiswick Park, where many MNCs have their headquarters too, for instance Japanese consumer products giant Sony, Singapore’s national carrier Singapore Airlines and famous US coffee chain Starbucks.
London is said to be home to more unicorn tech companies than any other European city, according to a research report conducted by GP Bullhound. Unicorns located in London are said to include ASOS, Markit Group, Zoopla and Revolut.
According to CBRE Research, residential rents in the Hounslow borough are predicted to increase by 20% - “one of the highest rates in London” - from 2018 to 2022.
Showcase of Ivy House
EcoWorld London will be releasing the first residential block at Verdo-Kew Bridge in April. Named Ivy House, it is a 12-storey block with 92 apartments. A preview in Singapore will be held at EcoWorld Singapore Gallery on the weekend of April 13-14, followed by an exhibition at Mandarin Orchard on the weekend of April 27-28.
Buyers of units at Verdo-Kew Bridge need only pay a 5% deposit to purchase, with another 5% payment 12 months later. The balance is due only upon completion, which is estimated to be between 4Q2021 and 1Q2022.
EcoWorld International is a public-listed Malaysian company with a core business involving property development in the United Kingdom and Australia. Verdo-Kew Bridge is EcoWorld International latest development in the UK. Its first three residential projects – namely Embassy Gardens in Nine Elms, Wardian London next to Canary Wharf and London City Island in Leamouth Peninsular are being developed in a joint venture with Ireland-based property developer Ballymore Group.
Under EcoWorld London, its projects include Aberfeldy Village which is located at Zone 2 of the Greater London area, a stone’s throw away from Canary Wharf, and The Claves at Millbrook Park which will be previewed after Verdo.
Preview (13 & 14 April):
Asia Square Tower 1 #15-07B, S018960
Exhibition (27 & 28 April):
Mandarin Orchard Level 6, Orchard Wing, Orchard Meeting Suite 605
To RSVP: Call 6235 2525/ 9325 2255 or visit www.verdolondon.com