The Times is reporting
that the company behind the redevelopment of London’s Centre Point tower into luxury flats
is restarting the sales process.
Sales of the high end properties, ranging from £1.8m in price upwards, were halted last October after only around half of them had been sold. However, the report says that developers Almacantar have now reappointed sales agents to sell them.
CEO Mike Hussey said last
year that although buyers were still interested in the flats a slowdown in the
market had led to unrealistic offers being made for them: “Offers are now
reflecting uncertainty on potential changes to stamp duty, taxation of overseas
investors and other fiscal policy proposals. We see no point in chasing a market
that is increasingly detached from reality.”
The Centre Point
redevelopment has involved the transformation of the iconic Grade II listed
1960s office building in WC1 into 82 apartments.
Restarting of the sales process could indicate that the developers believe the high end London market has turned a corner – although it will be interesting to see how well the flats sell and what prices are achieved.