Property consultancy Knight Frank Middle East has launched a new phase of sales for the waterside property development Chelsea Creek in London with a series of private sales events across the Middle East.
Located in West London, Chelsea Creek is part of the regeneration project spearheaded by St George, and since 2000, St George has delivered over 8,730 new homes; over 2,400 of which are affordable; over 77,000 sqm of commercial floor space and 7,700 sqm of community space, as well as 30 acres of open space. The Chelsea Creek development has been optimised to deliver 2, 376 homes. Showcasing the prime real estate development, Knight Frank Middle East is offering waterside residences to property clients as well as disclosing findings from the Knight Frank Wealth Report.
“The Knight Frank Wealth Report, highlights a distinct performance comparison between areas such as Chelsea Creek and the rest of the city. The last 15 years has seen intense regeneration come to fruition and the market appetite remains robust,” said Tom Hawkins, head of international property market Middle East, Knight Frank. “With the limitations of expansion within central London, areas open to regeneration remain exceptionally rare and this site represents a key marker in the London property market. The area around Chelsea Creek was part of a unique opportunity to open up this area of the Thames, and kick start the regeneration of south Fulham by delivering a new mixed-use riverside community.”
The report also outlined how the education sector is continuing to drive the central London property market. Recent data published by the UK’s Independent Schools Council, which accounts for around 80% of the total number of pupils in independent schools, announced that over the last 10 years, global demand for places has been rising strongly. Markets such as China, Russia and parts of Africa have been driving much of that increase but there has also been a significant upswing in the numbers from the Middle East with that figure recently rising by almost 91% across the same period.
The Chelsea Creek development offers designed studio, 1, 2 and 3 bedroom apartments, complete with resident’s gym and concierge service with financial investment consultancy available for UAE residents and expats.
“While the market continues to go through a period of transition, the opportunities to invest do still remain for the savvy investor. Through the recent Wealth report from Knight Frank, we’ve been able to track the drivers that are continuing to make London an attractive prospect for UAE residents,” added Watkins. “Currency changes, local regulation initiatives, quality of life and critically – access to the UK’s best universities have all led to an increased demand for residential property within the London market. Despite the broader property trends in the UK, and London in particular, access to the UK’s education sector remains an increasingly attractive driver for HNW investment interest.”