UAE-headquartered Hardington Residential has signed an exclusive contract with Barratt London, part of the UK’s largest housebuilder Barratt Group, to market the company’s latest London developments to MENA investors, as differing demands from countries in the region are seeing an uptick in sales for properties in prime central locations and ‘Cinderella’ boroughs of London.
The new partnership, the first of its kind for Barratt London in the region, will capitalise on Hardington Residential’s combined 75 years of real estate expertise, 25 of which are in the MENA region. With over ten projects in various locations across London and at differing stages of completion, Hardington Residential will be responsible for selling one of the largest London portfolios of properties to investors from the region.
Stuart Leslie, International Sales and Marketing Director at Barratt London, said: “Hardington Residential’s acute understanding of the makeup of Middle East real estate investors’ characteristics regarding the London property market was a significant factor in selecting the company as our regional partner.
“With an extensive portfolio of residential developments in strategic locations across the Capital, which are underpinned by substantial capital appreciation and annual yields, we’re confident the team at Hardington Residential will provide an invaluable link to key investors from the Middle East region.”
As a leading international real estate consultancy, Hardington Residential provide professional advisory, brokerage and asset management insights in multiple regions. As part of the company’s offering, they provide investors with various services, including strategic consulting, market intelligence, feasibility studies, sales and marketing expertise, property valuation, residency and citizenship by investment planning and property-related legal advice.
The team, which is led by Managing Director Ian Plumley, has a wealth of knowledge and understanding of the buying patterns of real estate investors from the Middle East region and, according to Plumley, London, now more than ever, is proving to be a popular location for Arab real estate investors as well as European and UK ex-pats.
Research conducted last year by Barratt London, in conjunction with Rightmove, the UK’s largest online real estate portal and website, revealed a growing demand from Middle Eastern investors for more affordable, high-quality homes in London’s outer zones.
These areas, often called ‘Cinderella’ locations, are characterised by ongoing regeneration efforts and are yet to experience the levels of growth seen in prime London locations. As such, investors can purchase property at lower prices initially while still having the potential for significant capital gains in the future.
“The key motives for GCC buyers are firstly from an investment perspective, followed by personal use, especially those from the UAE, Qatar, Saudi Arabia and Kuwait. We are seeing a growing appetite from the latter two, plus Egyptian buyers, looking for investment-geared products in outer London areas as they look to generate more robust yields and higher ROIs,” said Plumley.
“Locations south of the river, such as Battersea, Wandsworth and Bermondsey, and locations north of Hyde Park, including Wembley, Hendon, and Harrow, are proving popular for both those looking for long-term investment opportunities into off-plan regenerations schemes and from a personal usage perspective,” he added.
The team from Hardington will be in the UK from 15 -16 August as part of a Barratt London roadshow, where they will be showcasing a range of the company’s latest developments to specially invited guests from the Middle East to cater to investor demand over the summer, the event will take place at the Jumeirah Carlton Towers.
