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One Global Group launches London project Peninsula Gardens

/ EdgeProp Singapore |

September 21, 2022 10:43 AM SGT

Artist's impression of an apartment at Peninsula Gardens (Picture: One Global Group)

SINGAPORE (EDGEPROP) - Peninsula Gardens, a project in London by Knight Dragon has been launched for sale to buyers in Singapore by marketing agent One Global Group.

Peninsula Gardens is an apartment complex in Greenwich Peninsula, a GBP8.4 billion ($13.5 billion) regeneration project along the River Thames being helmed by Knight Dragon. Located in the Royal Borough of Greenwich in London's Zone 2 area, Greenwich Peninsula is London’s largest single regeneration project.

Peninsula Gardens features studio, one, two, and three-bedroom apartments spread across four blocks. Prices for the apartments start from GBP360,000.

All four blocks at Peninsula Gardens have their own co-working and lounge space. Residents will also have access to Aperture, a village hall with amenities including a gym, a concierge and a multi-faith room.

The development is close to the Jubilee underground line, enabling residents to reach Canary Wharf in just two minutes, London Bridge in eight minutes, Waterloo in 11 minutes, and Bond Street in 18 minutes. Meanwhile, London City Airport is less than 20 minutes away by car and less than 30 minutes by public transport.

The launch of Peninsula Gardens comes amid an increase in demand for London properties. “It’s really the perfect storm for both buyers and sellers,” says James Puddle, founder and CEO of One Global Group. “We’re seeing more developments coming to market, which is providing more inventory. However, we’re also seeing an increase in demand from buyers."

The group observes that foreign buyer interest in London property has remain unchanged despite an increase in interest rates. "If you go back to just before the financial crisis, the official Bank of England’s Bank Rate was in the high five% range. Today it is below 2%. Although there has been much talk about rate increases, they are nowhere near as high as they have been since the start of the millennium and the economy is much stronger today than it was in 2007,” Puddle explains.

Meanwhile, the weaker Pound Sterling has also boosted interest in London properties among overseas investors. The Singapore Dollar has appreciated over 13% against the Pound Sterling over the last 12 months, while the Hong Kong dollar has appreciated nearly 16%.

Adam Souissi, One Global Group's head, project development and consultancy, highlights that Greenwich, where Peninsula Gardens is located, has a bright outlook. “Greenwich is one of London’s best kept secrets. Its Zone 2 location, history, and the regeneration of Greenwich Peninsula make it a great place to live and invest,” he remarks.

One Global Group points out that the growth in Greenwich property prices has outperformed London as a whole. In the last ten years, prices in Greenwich rose 86%, compared to London's 77%. Souissi expects average house price growth over the next five years in Greenwich to exceed other London boroughs by 13.8%. "We are also seeing that Greenwich rents are circa 5% more affordable compared to Greater London and this has led to high demand and minimal void periods, if any at all,” he adds.

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