Roll up for a new flat
13 December, 2019
• AS for “property developers who only build luxury accommodation,” (Let’s look at the Conservatives’ record, November 29), it was heartening to read about the success of Galliard Homes this week.
With work due to start soon, one press report stated that Galliard had already agreed £50million off-plan sales for the luxury flats it is building over Tottenham Court Road Crossrail.
Apparently there are to be 92 in all and prices start at £900,000. Galliard was optimistic, too, and its annual report said it was also to offer “18 elite apartments” in the heart of Fitzrovia, available from £1.9million to £3.1million.
The capital’s largest privately-owned residential developer also stated: “Our commitment is always to sell to UK based buyers first where possible… we recognise that there is a UK housing shortage and that we have a responsibility towards UK residents.
“We must however also be aware of the commercial reality that London is a world city and that overseas markets help to ensure the viability of developments that would otherwise not be built.”
To which end, it noted it had commissioned “a Mandarin version of our website which is expected to be completed by the end of 2018 and will be accessible in mainland China…” adding that any five-year forecast showed a return on capital in prime London property doubling in value every eight years.