Trophy property in central London is up for grabs

The former Port of London Authority headquarters is being restored and converted into a 100-room Four Seasons Hotel, 41 serviced residences and an exclusive club.
The former Port of London Authority headquarters is being restored and converted into a 100-room Four Seasons Hotel, 41 serviced residences and an exclusive club.

Dubai - After launching an initial sales process at the end of 2014, the owner of the Grade II* listed building - Chinese firm Reignwood Group - will launch the next phase of sales on April 8 when the show apartment will open for viewings.



By Deepthi Nair

Published: Sun 27 Mar 2016, 11:00 PM

Last updated: Mon 28 Mar 2016, 9:10 AM

It doesn't get more exclusive than this piece of real estate. Which explains why ultra high net worth investors (UHNWIs) from the Middle East and the GCC in particular are expressing interest in Ten Trinity Square, the former Port of London Authority headquarters which is being restored and converted into a 100-room Four Seasons Hotel, 41 luxurious serviced residences and an exclusive Club.
After launching an initial sales process at the end of 2014, the owner of the Grade II* listed building - Chinese firm Reignwood Group - will launch the next phase of sales on April 8 when the show apartment will open for viewings.
"We had healthy sales in the first phase. Interest has been incredibly strong from the Middle East, specifically from the GCC," says Kalina Boyadjiew, vice-president of sales and marketing at the Reignwood Group.
The 41 residences will range in size from one to five bedrooms, with prices starting from £5 million. The Residences will offer views of the Tower of London, Tower Bridge, River Thames and the skyline of London.
The Four Seasons Hotel will have a soft opening in December this year. The residential units will be completed in the second quarter of 2017.
"We are having a staggered sales process because of the phasing of the scheme itself. There are only 41 units. So, we are not looking at mass marketing campaigns. It's by word of mouth. It's quite typical in the UK market to not flood the market and instead adopt a phased approach," informs Boyadjiew.
The apartments will come with developer specifications. The show apartment will, however, be delivered and sold as a turnkey product.
So, who is buying into this project? "It's forward-thinking investors who see the value add in buying into such a historic building. UHNWIs mostly buy serviced residences because of the comfort the brand gives and the ability to just lock up and leave," she adds.
"Predominantly, Four Seasons has a massive appeal in the Middle East. Second home purchasers and savvy investors are also looking at the next hotspots in London," Boyadjiew explains.
To facilitate private access, the developer will create three separate entrances for residents in addition to access via the hotel entrance. Each of the individual residential access points will be manned and secured. What's more, there will only be two or three apartments on each floor.
The Club, scheduled to open early next year, will be located on the second floor of Ten Trinity Square and be a platform for business and cultural exchanges. It includes the UN Room that hosted the reception of the inaugural meeting of the United Nations General Assembly which has now been converted into a ballroom. It can be used by residents to host private events.
The Club will also include a Chateau Latour Wine Room, Chateau Latour Dining Room, art gallery, cigar room, games room, library and meeting rooms.
Meanwhile, the hotel will have a gourmet French restaurant, gourmet Asian restaurant and an all-day dining restaurant. There will be a spa on the lower ground floor which will include two pools, sauna, hammam, treatment rooms, gyms and private exercise studios. Residents will have separate lifts to access the spa.
deepthi@khaleejtimes.com  


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