KUALA LUMPUR: Embassy Works, comprising 39 luxury New York-styled loft apartments in Nine Elms, London reported a 25% take-up rate by Malaysians.
Danny S K Yeo, deputy managing director of CH Williams Tahar & Wong, described the sales figures as “encouraging” and expects the remainder of the units to be picked up by Hong Kong and Singaporean investors.
He told The Edge Financial Daily in a telephone interview that some 45% of the units have been taken up to date.
The development has a gross development value of £33 million (RM174.78 million). The global launch was initiated last weekend at JW Marriott Bukit Bintang.
Developed by Bmor Ltd, Embassy Works consists of studios, and one- and two-bed apartments with built-ups ranging from 441 sq ft to 751 sq ft. Prices range from £542,000 to £830,000.
The apartments come with landscaped pocket gardens and concierge services.
The development is in Zone One, a short walk from the Vauxhall Underground and London Overground stations, and with the Nine Elms station located just five minutes away.
Nearby developments include Battersea Power Station, which is less than a 10-minute walk away. Embassy Works is expected to be completed between October 2015 and January 2016.
This article first appeared in The Edge Financial Daily, on November 14, 2014.