New Garden Quarter is 50% sold!
In January 2018, the Telford Homes successfully launched the second phase of New Garden Quarter in Stratford, marketing first in the UK and then internationally.
The Board was delighted to secure over 100 reservations across three weeks which exceeded initial expectations. Dampened UK based investor demand due to recent tax changes restricted domestic sales to a quarter of these reservations although this was still better than anticipated.
The remainder were sold in Hong Kong and China with the latter contributing over 50 sales and continuing to represent a growing market for the Group. This demand is driven by good rental yields and individual investors continue to target rental demand in London much like build to rent investors. The homes are expected to be complete in mid-2019.
Source: Telford Homes Plc update on trading ahead of its final results for the year ended 31 March 2018.