Battersea Power Station flat developers impose UK-only sales
 Move follows influx of foreign investors looking to UK property as a safe haven for their cash Flats in a new scheme in Battersea Power Station will only be marketed in London, the developer has announced, amid growing concerns that overseas investors are snapping up much of the capital's prime property. Homes in the second phase of the Battersea development are inside the power station and likely to attract a rush of interest from buyers who want to secure a piece of one of London's most famous landmarks, and could carry price tags of up to £30m. The properties will go on sale on 1 May and buyers can register their interest online. However, the company behind the renovation said the 254 apartments, ranging from studios to five-bedroom penthouses, would be marketed only in the UK. "This is a once-in-a-lifetime opportunity to own one of a relatively small number of fantastic homes being created in the iconic Power Station itself," said Rob Tincknell, chief executive officer of Battersea Power Station Development Company. "There has been a lot of comment recently about London's housing problems, and we believe the only way to try and solve this is to build great homes and create a community that people actually want to live in. "We are proud to be launching these new homes in London only, and this decision is part of a wider strategy to create a product well-suited for owner-occupiers and people who will help us create a real and lasting community here in Battersea." London's rapidly increasing house prices have been blamed on foreign investors looking to the UK as a safe haven for their cash, and in some cases leaving properties empty while would-be buyers struggle to afford to buy. Developers have been keen to tap into investors' interest, marketing homes at property shows in the likes of Singapore and Hong Kong before they are offered to UK buyers. The siutuation has caused increasing political unease, and on Monday the Labour leader Ed Miliband vowed that if his party came to power it would prevent developers advertising properties overseas first. It is understood that overseas purchasers who register their interest online in the power station properties will have to attend a sales appointment in London in order to buy. theguardian.com © 2014 Guardian News and Media Limited or its affiliated companies. All rights reserved. | Use of this content is subject to our Terms & Conditions | More Feeds |
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