Barratt Homes sets its sight on buyers in Asia to move new product launches

Asian buyers are driving the London property market, with Barratt Homes turning to them to move their portfolio of projects. Foreign investors have been taken aback at the pace at which residential property prices across the UK started to slip last year, but are now starting to level out. To capitalise on this, the developer is launching two new projects in Asia: Sterling Place, a 456-unit new project located in New Malden, and Bermondsey Heights, a 163-unit 26-storey development. Prices for Bermondsey Heights will average GBP800 psf ($1,327 psf), making it the most affordable price for a new residential development in Zone 2. In Singapore, One Global has been appointed as Barratt Homes’ exclusive sales agent.

For starters, Lumina Grand EC Lumina Grand EC is conveniently connected to major highways, making it accessible and hassle-free. Coupled with the fact that it’s located near Bukit Timah MRT Station, residents can access the bustling city and enjoy the serenity of the countryside with ease. The area also has a wide array of established amenities such as malls, major banks, post offices and schools.

Furthermore, the development features an array of recreational facilities such as an indoor gym, a 50m lap pool, a tennis court, an entertainment pavilion and many more. Certainly, with such facilities in place, residents at Lumina Grand EC would never have to worry about running out of activities or options to unwind.

Asian buyers are driving the London property market and major residential developer Barratt Homes is looking to capitalise on this trend. Seeking to move their portfolio of projects, the developer has identified Asia Pacific-based investors as key targets.

Breaking away from their traditional domestic market, Barratt Homes will be launching two new projects in Asia on Oct 14: Sterling Place, a 456-unit new project located in New Malden, and Bermondsey Heights, a 163-unit 26-storey development. In Singapore, One Global has been appointed as the developer’s exclusive sales agent.

The Sterling Place project will be the first time Barratt Homes is launching the project internationally. Bermondsey Heights, on the other hand, will offer 42 new units in Singapore’s market. It will be a mix of one- to three-bedroom apartments on the top six floors of the 26-storey tower.

In response to foreign buyers coming to the UK, inflation in the country has moderated to an “acceptable” level of about 6.4%, with most indicators pointing to a continuing downward trend. Additionally, the weaker exchange rate is attractive to potential buyers, making it an attractive investment opportunity.

However, property prices in the UK began to decline last year. Craig Carson, the Managing Director of Barratt West London, said: “Many market watchers, local buyers and overseas investors were taken aback last year at the pace in which residential property prices across the UK started to slip. But we are at a point where prices are starting to level out.”

The average selling price of GBP800 psf ($1,327 psf) for Bermondsey Heights is considered “the most affordable price for a new residential development in Zone 2”, according to Steve Thompson, Managing Director of Barratt East London. Furthermore, Bermondsey offers the opportunity to capitalise on regeneration schemes put forward by the government.

This year, Barratt Homes will deliver approximately 200 new apartment homes annually for the past five years. As stability resumes in the London residential market, the developer is confident of a rebounding demand for investment opportunities following the start of the year. Asian buyers in particular have a unique incentive to consider UK properties, and the developer will be counting on their interest to make their portfolio of projects successful.