MTD Group has closed its marketing suite for One Crown Place at the end of September to focus to completing the scheme to schedule.
One Crown Place will re-launch to market in mid-2020.
Purchasers have continued to commit to the scheme over the past 6 months, with take-up in residential sales hitting 60% and recent sales averaging £9m a month.
MTD Group Chief Financial Officer, Tee Kim Siew commented: “We are proud to see our vision for this landmark scheme come to life over the past year. One Crown Place offers the highest standards in residential with leading British design and quality craftsmanship and will create a new lifestyle destination on the edge of the iconic City of London. We are confident One Crown Place’s enviable location and exceptional design will be further realised when it returns to the domestic and international market, with new sales assets, next year.”
Henry Robinson, Senior Director, Central London Development at CBRE, added: “Together with MTD Group we have made the strategic decision to pause residential sales until we are able to host purchasers inside One Crown Place for the first time. We are thrilled by the progress of the scheme to date and the fact we have exceeded our sales targets is testament to the continued demand from international and domestic buyers for prime London property. Looking ahead to next year, we foresee an uptake in overall market growth and a spotlight on Hackney as house prices are expected to increase 7% over the next five years. We are confident One Crown Place will make its mark as a vibrant, premium destination for residents in the City."
Currently under construction, One Crown Place’s northernmost building will ‘top-out’ in Autumn 2019, followed by the southernmost building in early 2020. The scheme is due to complete in Q1 2021.