The first stage of promoting the sales of properties in the new development has been exclusively aimed at the local London market. Catalyst by Design (our in-house developers) commissioned thorough market research focused on the two mile area around North Kensington ranging from Hampstead to Shepherd’s Bush.
We have also promoted the development to selected markets and groups of potential buyers across London. We believe that we have spent more resource and time on local marketing than other projects of a similar type. Our sales are going well, with 30 reservations and exchanges to date for Block 1 including mews houses. 23 properties are left to be sold.
In central London, over half of the new properties built last year were purchased by foreign investors – mainly ones from the Far East. While we will continue to market the properties locally, it is important for us to market our new properties abroad where there are many active buyers. We will be marketing Block 3 (the second Block to be built) overseas this Spring.
As you probably know, the aim of the regeneration of Wornington Green is to use the money from sales of the private properties we build to help fund the project overall. Building brand new high quality homes for our existing tenants, is made possible by the private sales.