Iconic Central London skyscraper to launch in Shanghai
PRINCIPAL Tower’s developer says it is set to be one of the most sought-after developments among property investors across Asia in recent years. Sales road shows will take place in Hong Kong, Singapore, Beijing and Shanghai.
The Shanghai exhibition will be held from Friday to Sunday at Jing’an Shangri-La, (Lotus Room, 1218 Yan’an Road M., Jing’an Kerry Center).
“We are confident that Principal Tower will appeal to sophisticated Asian investors who appreciate the exclusivity of the central London property market. Surrounding the development are world-class transportation links, including three underground stations within blocks that connect with the Liverpool Street Railway Station. There is also a major pipeline of new retail, residential and top-grade commercial offerings as part of the wider comprehensive redevelopment scheme. This will translate into strong yields and a solid rental market, underpinning growth in property prices. We are also partnering with world-renowned Foster + Partners, the architect and interior designer of the building, to ensure that our product is unparalleled in design, quality, layout and finishing,” said Christopher Murray, managing director of W1 Developments who is in Asia ahead of the road show.
Designed by architect Foster + Partners, Principal Place is London’s next iconic city complex featuring a mix of residential and top-grade office space, retail facilities and a half-acre public piazza.
“Asia has the fastest-growing number of sophisticated investors looking to buy property beyond their home markets. They currently represent 60 percent of London’s overseas buyers. The housing prices in the city, where Principal Tower is located, outperformed growth in other traditional residential areas at 15.3 percent. Principal Tower presents a great opportunity for Asian investors to tap into a high-quality property, great investment with great potential for capital appreciation,” said Tim Wright, lead director of Residential Development & Investment, JLL, London.
Principal Tower will be Foster + Partners’ first fully designed residential tower. Reaching a height of 175 meters, the tower will provide expansive views as it will be one of the tallest residential buildings in London. It and The Gherkin (30 St. Mary Axe), both designed by Foster + Partners, will forever be regarded as iconic buildings that bookend the London city center.
The tower is part of a larger mixed development, Principal Place, which also consists of 55,740 square meters of office space and 1,858 square meters of retail offerings. The development is jointly developed by Concord Pacific, Canada’s largest developer of multi-phased, master-planned residential communities; Brookfield Office Properties, a developer and manager of premier office properties in the United States, Canada, Australia and the United Kingdom; and W1 Developments, one of the leading property developers in central London.
For sales enquiries, please contact Michelle Liu at JLL Shanghai at (021) 6133-5365 or 1381-7925-372.