Sounds like they are aiming for the buy to let market rather than owner occupiers. This is a bit of a shame since there are plenty of potential first time buyers who would be interested in living in such a property, if the prices were in line with the market (which they still do not seem to be). Instead we will have more rental properties for people to pay off the mortgages of investors living in Hong Kong.
BH are marketing 'City Walk' in Malaysia too. From
The Star Online:
"As far as one of Britain?s biggest developers is concerned, this is a golden opportunity for Malaysian investors to pick up the best bargains. "Now is the time to take advantage of the currency savings as well as the buyers? market before an upturn takes place,? said Berkeley Group managing director Piers Clanford. He said his company was seeing more investments from overseas, including from Malaysia, as Britons were finding it difficult to get onto the property ladder. Clanford admitted it was still a far way off from the boom days but things were starting to move now following the worst of the market. He urged Malaysians to make the most of their ringgit savings as the pound would strengthen in due course.
Berkeley Homes will, in fact, return to Kuala Lumpur to showcase its City Walk project on June 20 and 21 following encouraging response to another scheme in March. Priced from ?175,000 (RM927,500), the development in Forest Hill, south-east London, will be exhibited at the Hilton Hotel in Kuala Lumpur Sentral between 10am and 6pm. "
They must have been I guess.
I just read the brochure, I cannot believe the drivel the agents are trying to get away with. I like FH as much as the next resident, but Covent Garden it ain't! Vnopolis, on the doorstep? Not quite.... I'm off to get a cappucino at one our many al fresco bars....
Despite my reservations I congratulate Berkeley Homes if they have sold off all the flats, especially if they got anything close to the asking price. Is this the beginning of a property boom in Forest Hill? Probably not.
Just been told that the last flat in 'City Walk' sold over the weekend.
When I used to sell Australian University degree courses in Malaysia, Singapore and Indonesia in the 1990's we used to have many of the parents of the potential students looking to purchase properties for them to live in while they were studying in Oz. I'm sure that's one small part of the Hong Kong and Malaysian market that Berkeley have hitched their property wagon onto.
If I owned a property in London and wanted to sell it now, then this is one opportunity. I'd be grabbing onto Berkeley's coattails and doing a bit of research to see how to do it.
It's a great opportunity as an overseas investor. Particularly overseas investors with a canny eye for a bargain. Buy the asset in GBP while GBP is weak. With the inevitable outlook that GBP will appreciate as it, um, inevitably has. Then as GBP appreciates, reap the rental income stream in strong GBP. That's a business plan if I ever heard one. And you heard it here first on SE23.com!
I see they have finally started to address the dangerous eye-sore wall opposite the new flats (that are no longer central.)
All the buddleia has been pulled out and the loose bricks removed.
They are laying new red bricks, which is not perfect I guess, as they will never blend in, but that is better than the holes just being cemented over or filled with no-nonsense polystyrene filler.
So this is progress indeed.
Hopefully this work is just preparation for a full length engraving - I propose a scene from one of the historical forest hill up'ard vs down'ards mob football games that, admittedly, have yet to be played, between the ancient wards of se23.
It's not looking too bad at all, is it?
Can't help thinking that some trees along this wide pavement would've been really nice here, though. Or even some spaces for later planting
Wide pavements without trees always look a bit bare to me.
Think it looks a lot better!
Does this mean the grand unveiling of 'Forest Hill Central' a.k.a City Walk (is that it's new name? I forget...) is almost imminent? I've lost the plot a bit on when things are supposed to be happening.
And whats the latest on the subway improvement? That would make a real difference too.
Just spotted this story on the Property Week website:
http://www.propertyweek.com/story.asp?storycode=3145685
'Berkeley Group has sold all 52 flats in its City Walk scheme in Forest Hill, south-east London, to investors in Hong Kong, Malaysia and Singapore.'
Perhaps Lewisham's planning department will take note while considering the Tyson Road development...
One of my friends nipped over to Florida when the dollar was weak and bought a house.
For some strange reason I received a letter from Broomleigh ( whoever they are ) offering flats in this complex part rent/part buy. You can pay as little as GBP 48k.
They advise full market values are GBP 205k/ GBP 250 resp a bit less than the 249/349 they used to refer to.
Guess some of the Asian buyers do not want to live here.
Broomleigh are a housing association - originally mainly active in Bromley (geddit?), but now obviously expanding their activities. Bromley no longer has "council houses" as such - they are all run by Broomleigh.
It is, I believe, part of planning requirements that a certain proportion of any development over a cetain size be "affordable" housing - and these are, presumably, those affordable units.
I see the wraps are starting to come off!
I am one of the lucky ones that have been allocated a 1 bed apartment by Broomleigh in FHC. I have been living in FH now for 2 years and love it here I currently live on Dartmouth Road and have been watching them build the devolpment. When they came on with the part buy part rent it was my oppertunaty to buy in an area that I love. They have told me that Broomleigh take control from the developer ( Berkley Homes ) in January. We are due to move in from the 22nd January so hopefuly the devolopment will be nearly compleated by then.
I am really pleased to be able to stay in such a great area that with out this oppertunaty I could not afford to do.
Thats fantastic
Happy move, and congrats on the new home
Already lives in FH, Dartmouth Rd
But welcome to my part of the "hood" lol
If I lived in FHC I would be in Finches all the time buying more board gear lol
Thanks for all your kind words I love living here. And am looking forward to putting down some real routes in what is a fantastic part of London.
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