Merseyside rejoice, our destiny's Shangaied,
http://m.gmgrd.co.uk/res/239.$plit/C...A06%3A58%3A613 Peel's development director James Whittaker
Far Eastern investors are snapping up apartments at MediaCityUK in Salford Quays, having invested £4.5m so far.
Following sales visits to Hong Kong in March and the Malaysian capital Kuala Lumpur in May, Peel Media Living has sold 36 apartments in two residential blocks.
Peel has now committed to trips to Singapore in October and Hong Kong again in November.
Peel's development director James Whittaker said: “It became apparent at last year’s Shanghai Expo that there’s a real demand for UK investment opportunities within the Chinese market.
“The hotels there are booked each weekend by London-based developers selling schemes off-plan, so there was overwhelming evidence that marketing to this cash-rich corner of the world would pay off.
“We also had the benefit of a completed development and the twin attractions of the BBC and Manchester United to a market that loves British brands.
“But it was still a big risk for us. We invested £75,000 in marketing and needed to sell between eight and 10 units to break even.
“We used King Sturge’s office in Hong Kong to co-ordinate, and took the development models out with us, set up shop in a room in a hotel and waited to see what would happen.
“We sold 24 units to 24 different individuals. We achieved £3m worth of sales in three days.
“We went on to Kuala Lumpur where there is a massive Manchester United following and, while we did not do as well as Hong Kong, as the market there is more cautious and conservative, we still sold 12 units in two days.
“Since our return all 36 have completed.”
Peel has offered 12-month rental guarantees or furniture packs and say investors can expect a six per cent annual return on their capital.
Mr Whittaker added: “Chinese investors are very savvy, they want the best return for the least risk and were attracted not just by the fact that prices here are a third of the London equivalent but that they get instant returns.”
Manchester Evening News, July 21
Chas
:confused::confused::confused:
PEELed an apple, only to find it was an onion. Ah well, that's progress!
With all due respect, Ged and wsteve 55, I was merely pointing to Peel's lack of transparency in "The Master Plan". 300+ pages that appear to answer Merseyside issues. I think the "real" documents might give a clearer view of Peel's agenda.
http://www.yoliverpool.com/forum/ima...quote_icon.png Originally Posted by Ged http://www.yoliverpool.com/forum/ima...post-right.png
Part of the shortage of land comprises the bird sanctuary at Seaforth that Peel has asked if they can relocate.
Thanks Ged, it's like drawing teeth.:034:
Regards,
Chas:PDT11
PEELing, Steve, but some put it down to the weather. Ask not for whom the bell tolls..................
Quote:
Originally Posted by
Ged
Why if it's just relocating and it wouldn't be there in the first place but for them, it's on their land.
---------- Post added at 03:16 PM ---------- Previous post was at 03:12 PM ----------
That's right Steve and why stringent planning laws, rules and regulations have to be adhered to. Chas,
do you have a relative working at Cammell Laird or the airport which due to Peel's takeovers have cemented jobs that WOULD - not could have been lost. How do you feel about that. All without costing you an extra penny on your tax.
Too many pot herbs in the scouse for my liking.
Chas:angry: