KUALA LUMPUR: The completed Bézier Apartments located in the City of London, UK is open for sale to Malaysians this weekend Oct 30 and 31, following its official launch last weekend (Oct 23 - 24).
The development, minutes away from the Old Street Zone 1 tube station, is developed by Tudorvale Properties Group. Its previous projects include St Williams Yard in Kings Cross and The Regency in Woodford.
The sale of units is handled by local agency VPC Realtor Sdn Bhd, which is led by James Wong.
“It is the only completed apartment development within the City of London,” Wong said. “It is located near the stock exchange, banks and financial institutions as well as universities.” It is also close to the creative industries in Shoreditch where old warehouses have been transformed into artistic enclaves as well as fashionable boutiques.
The Bézier comprises two towers: Tower 1 has 16 stories, while Tower 2 has 14 stories. Together, there are a total of 149 units that comprises studio, 1-bedroom and 2-bedroom apartments.
The studio apartments are 360 sq ft, while the 1-bedroom units range from 500 sq to 700 sq ft and the 2-bedroom units range from 800 sq ft to 1,000 sq ft.
The selling prices for the studio units start from £349,000 (RM1.7 million), the 1-bedroom from £425,000 and the 2-bedroom from £715,000.
For investors, Wong is confident that rental yields of 5% to 5.5% are achievable due to its strategic location within the City of London. Also, he adds, the current cost of borrowing is 3.5%.
According to an article in the guardian.co.uk on Oct 28, 2010, house prices in England and Wales increased by 5.2% over the past year, with London experiencing the highest annual price rise of 8.8%.