UK’s Weston Homes sees Asia as new growth region
WESTON Homes plc, a UK property developer specialising in the development of high quality residential developments, is targeting Asia including Malaysia as a new growth region to develop properties, says its chief.
Weston Homes operates throughout the South-East of England and London.
Its chairman and chief executive officer Bob Weston said the company plans to develop properties outside the UK.
“Asia, including Malaysia, is an important market to us. We would be delighted to discuss any potential joint venture arrangements with Malaysian developers,” he told Business Times in an interview.
Weston Homes was recently in Kuala Lumpur to promote its RM825 million Bridges Wharf project.
The project is one of London’s most prestigious River Thames residential development.
It offers a collection of 265 one- and two-bedroom units, with built-ups ranging from 450 sq ft to 2,100 sq ft, including one penthouse built within three glass-fronted, 12-storey apartment towers.
Within one of the apartment towers is a five-star 70 room French boutique hotel called the Von Essen Hotel.
Bridges Wharf features 8,000 sq ft of commercial space and more than 14,500 sq ft of retail space for restaurants and boutique shops.
“We are making our debut into the Malaysian investor market as the (British) pound remains weak. There is also more Malaysian interest shown in the UK and this would be an opportune time for them to own properties in London before prices move (up). We are offering great value for money now,” Weston said.
Weston Homes has sold close to 200 apartment units since Bridges Wharf started two years ago. It hopes to sell the remaining lots to Malaysian home buyers.
The company’s joint marketing agent for Malaysia is VPC Alliance (KL) Sdn Bhd.
VPC managing director James Wong said it recorded moderate success during the sales exhibition on Bridges Wharf in Kuala Lumpur in October.
“Some deposits were made, but they are strong leads for follow-ups. Many prospective buyers are going to London to view the development before committing,” Wong said.
By Business Times (by Sharen Kaur)
Popularity: 1% [?]