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Singaporean property firm announces £130 million London development

A Singaporean property firm will invest more than £130 million into a new residential property complex in Wandsworth, it has been announced.

Frasers Property has been granted planning permission to build 172 mixed-tenure flats fronting onto the Thames and River Wandle.

The developer said it remains committed to London “despite Brexit and recent political uncertainty”.

The apartment complex is the latest in a series of developments reenergising the former Shell oil terminal.

Simon Lear, chief executive of Frasers Property (UK), said: “Over 80 per cent of Riverside Quarter is now successfully built and sold providing a community of homes, shops and leisure facilities fronting onto the River Thames.

“This landmark building has been highly anticipated as it completes the project and provides a new collection of desirable Thameside homes. We anticipate launching the building in early 2018.”

Simon Lear, the boss of Frasers’ UK arm, added: “Despite Brexit and the recent political uncertainty, we remain committed. We believe that London remains the premier location in Europe for prime residential real estate investment.”

A recent study, published by the London School of Economics (LSE), showed that foreign investors made up 13.2 per cent of all property transactions in London between 2014 and 2016. The majority of purchases were made by people or companies from just four countries all in south-east Asia: Hong Kong, Singapore, Malaysia, and China.

One of the core areas of ELS is the work we do in supporting property developers. Our strong network helps developers and investors connect, and we provide legal assistance and advice on site acquisition, joint ventures, finance options, dispute resolution and tax options to save money in the transaction. For more information, contact us here.

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ELS Legal is an international law firm based in London with more than 50 partner offices across the world. As part of the Cathay Associates global legal network, we are the first choice law firm for a number of British businesses and overseas clients.

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