In Clerkenwell, Hurford Salvi Carr is acting for Marldon on a boutique scheme of 13 units in a mixed use scheme with 12,000 sq ft of offices at 67 Turnmill Street, EC1, beside Farringdon station. The first five units were launched on 21st May 2010 with four reservations, the balance of eight units will be launched in the summer of 2010.
Prices for the first phase ranged from £430,000 to £720,000 sq ft at an average price of £870 psf. This development is set to reach a record high for Clerkenwell, off the back of a proven high end specification and a lack of competition in the City Fringe new homes in clerkenwell market.
One of the features of the new homes market in the first half of 2010 was the re-emergence of off-plan sales to investor purchasers in a variety of locations in the Far East, including Hong Kong, Singapore and Malaysia. United House and Londonewcastle are responsible for the fitting out of a block of 56 private apartments at the recently completed, colourfully clad, Central St Giles scheme on St Giles High Street, WC2. Forming part of Legal & General’s and Mitsubishi’s mixed-use office, retail and residential scheme and designed by Renzo Piano, the private residential achieved prices of £1,400 psf in sales of 51 of the 56 apartments to Hong Kong, Singapore and Kuala
Lumpar investors in March 2010.
For the final marketing phase of One EC1, 1 Lamb’s Passage, EC1, in March 2010 Hurford Salvi Carr sold 25 of the remaining 31 units at an exhibition in Hong Kong, with a pre-let in place to a serviced apartment operator and finance from an Australian bank.
The firm has also forward-sold in Hong Kong 16 of the 39 apartments at the Saunders Apartments, developed by Telford Homes, to Hong Kong Chinese buyers. The block forms part of a mixed-tenure regeneration of the British Estate in the heart of the East End, off Bow Road, E3. Completion is set for mid-2011. At Chandler’s Quay, Cable Street, E1, also by Telford Homes, we had sold 50% of the 18 unit scheme in the Far East by the end of June 2010.