Why London is still a safe haven for international buyers

4 June 2021

The Times

Launching a development is nail-bitingly stressful at the best of times and in the midst of a pandemic even more so. Nonetheless James van den Heule is optimistic. Despite price tags of up to £60 million for the flats in his latest project, he has — ahead of the launch next week — already had interest from buyers in Europe, the US, the Middle East, China and Hong Kong.

“The pre-sales have been amazing. We have been communicating over Teams and Zoom with online presentations and models,” says Van den Heule, the founder of Fenton Whelan, a luxury developer. “We have sold about a third [of the 57 homes at the Park Modern development in Bayswater] with some international buyers happy to buy without seeing the site while others want to wait until travel restrictions are eased.

“I get the feeling that a lot of people have put Brexit and election uncertainty behind them. There are those who have been waiting for five to six years on the sidelines, I think there is a fair bit of pent-up demand.”

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