Ballymore Group is delighted to unveil impressive results for its Embassy Gardens development – a landmark riverside neighbourhood in the heart of the Nine Elms on the South Bank regeneration area launched last year.
Widely lauded by top agents as the best performing residential development of 2012, an impressive 90% of properties released to date have been sold.
Demonstrating a strong demand from the home market, 60% of sales have been to UK-based buyers. In addition, Embassy Gardens was also well received in Asia and other global markets.
Interestingly, the demographics of buyers are highly varied: ranging from UK families looking to upsize from nearby Eaton Square and those buying property for their children studying in the UK as overseas students, to European buyers looking to benefit from London’s buoyant property market. All of which demonstrates the attraction of being part of the newest, most exciting area of central London. With 2,000 homes - from studio apartments to three-bedroom penthouses - Embassy Gardens is set to be a vibrant, lively neighbourhood with a real sense of community.
A kilometre-long Linear Park - starting in Vauxhall and moving through Embassy Gardens on the way to Battersea Power Station - and 130,000 sq ft of retail, including Waitrose and two new bar and restaurant concepts from The Inception Group, form the centrepiece of Embassy Gardens.
Embassy Gardens is one of Nine Elms on the South Bank’s most important developments. Masterplanned by globally-renowned architect, Sir Terry Farrell, Nine Elms offers an exceptional opportunity: it is probably the last time that a 200-hectare area of central London will be developed from a ‘totally blank canvas’.
With 16,000 new homes planned and iconic developments such as the US Embassy (which lies at the core of Embassy Gardens itself), Nine Elms has the highest forecast property value growth in London (140% by 2016. Source: Knight Frank Hotspots).
Ballymore has been responsible for some of the most ground-breaking developments in London and with Embassy Gardens they have continued to set new standards. The Embassy Gardens marketing suite itself is a triumph: heralded as the best in the industry. Reflecting the vision of the neighbourhood, its architecturally-striking exterior is complemented by a carefully-deigned interior that captures the distinctive design and aesthetic of Embassy Gardens.
Commenting on recent sales success, John Mulryan, UK Managing Director of Ballymore Group said: “I am delighted with last year’s sales figures. As expected, both the UK and international market have recognised Embassy Gardens as a one-off landmark development: a new and exciting community in central London with strong investment potential.”
Embassy Gardens is within the Nine Elms regeneration area, the largest regeneration project in Central London. This is a key element in the Mayor’s London Plan with 16,000 new homes planned and an employment capacity exceeding 25,000.
The Nine Elms project has had enthusiastic support from the Mayor of London, Boris Johnson, who describes it as “a catalyst for economic growth and regeneration on that side of the river “
The decision that the US Embassy took in choosing Ballymore’s Nine Elms site provides prestige and gravitas to the whole Nine Elms area and is set to give rise to a new geo political international quarter: The third city.