London’s Paddington Gardens eyes Middle Eastern property buyers

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Abdul Basit

Dubai – Paddington Gardens project in London ticks all the boxes property investors look for especially Middle Eastern real estate buyers.
Paddington Gardens is a major UK development led by Meritas Real Estate and Ahli United Bank. Its completion is expected in Q4 2018 and prices start from £825,000.
This prominent collection of four distinct buildings is set around an acre of gardens and will create a vibrant new community boasting a mix of new residential homes, offices, restaurants, retail space, primary school and a 340 room hotel.
“Middle Eastern investors looking for long-term investment properties often look for high quality, new build accommodation with good transportation and access to commercial centres such as the City and Canary Wharf. Owner occupiers with families often look for larger units, whilst smaller apartments dominate the investment market,” Adam Soussi, Associate Director at CBRE Residential, told The UAE News.

Speaking to this scribe James Puddle, Associate Partner, Strutt & Parker, explained: “Paddington Gardens is a development which has it all – cutting edge architecture in an unbeatable zone 1 location, surrounded by an acre of green landscaped gardens. We expect to see a lot of interest from investors and those looking for a bolthole in the heart of one of London’s most exciting residential and commercial regeneration districts, an area which has been historically undervalued in comparison to neighbouring Marylebone and Notting Hill.”

Responding a question about the importance of London market for Middle East investors, Adam Soussi replied: “London remains a place of investment for the Middle East for a multitude of reasons, primarily it’s economic and political stability, transparent legal system and strong financial and business centres. This, coupled with the city’s rich and diverse heritage, world class education offering and culturally accepting society makes London property an attractive investment opportunity for buyers in the Middle East.”

The project
Designed by Assael Architects and created by Powell Dobson, the scheme totals nearly 3.7 acres with four striking towers rising 17, 19, 21 and 19 storeys. The buildings will overlook extensively landscaped gardens, with the majority providing panoramic dual aspects of the London skyline.
Paddington Gardens will offer 335 spacious residences comprising 271 private apartments and 64 affordable homes. The first phase, Drummond House, boasts 95 homes and is nestled on the south-east corner of the development.
Green spaces have been meticulously incorporated into the design and an acre of gardens is at the heart of the scheme. Paddington Gardens is the only development of its kind in Paddington Basin to offer such greenery and will provide the largest public green space in the area, combining a haven for wildlife, children’s play and recreational use.
Paddington Gardens will also offer the largest green space closest to Hyde Park. The development will be surrounded by a wide pedestrian boulevard including seating and topiary shrub plants which will connect Paddington Gardens to Regents Canal. A synergy between the green park and the towers will also be created with balconies and roof gardens designed to enable residents to grow their own plants and enjoy additional outside space.
Paddington Gardens boasts excellent transport links. Nearby Paddington Station offers quick underground links within London, while residents will also be able to take advantage of rail networks to the rest of the UK and Heathrow Airport via the Heathrow Express. The Elizabeth Line, scheduled to operate at Paddington Station in 2018, will connect west and east London like never before. Journey times to Bond Street will reduce from 15 minutes to just 3 minutes.
According to CBRE research, prices around Crossrail’s host stations continue to increase by 31 per cent over the wider market. For European destinations, the Eurostar to Paris takes under two hours from St Pancras International – just 17 minutes away.
There are also a number of excellent universities close to the development including the University of Westminster which is 6 minutes away, UCL located 8 minutes away and Central St Martins, part of the University of the Arts London which is 10 minutes away.
Luke Mills, Executive Director at CBRE, comments: “Paddington Gardens is one of the very final chapters of the Paddington Basin story, arguably one of London’s most successful regeneration projects. Paddington Gardens benefits from exceptional connectivity and is within walking distance to some of London’s most renowned destinations, including Hyde Park, Oxford Street and Marylebone.”
Residents’ amenities include use of a Virgin Active gym next to the development, private basement car parking for up to 203 cars with charging points for electric cars and 452 bicycle spaces. 24-hour concierge and security will also be provided.