IJM Land sees 70pc take-up rate
IJM Land Bhd expects the take-up rate for its London-based Royal Mint Gardens project to hit 70 per cent in the first month of its launch.
Chief executive officer Datuk Soam Heng Choon said the project, the initial phase of a 1.09-hectare mixed development venture with a Gross Development Value (GDV) of £200 million, would be launched by next Friday in Malaysia.
"We have pre-sale bookings of 40 per cent at present by London buyers," he told a media briefing today.
Soam said the physical works on the project is expected to begin early next year with the completion date targeted for the fourth quarter of 2017.
The Royal Mint Garden is located on Royal Mint Street in Central London, and close to the London Tower Bridge.It is also adjacent to the city's financial district.
"The development consists of 254 units of residential apartments
comprising studios, one-bedroom, two-bedroom and three-bedroom apartments over the three apartment blocks, with a built-up area ranging from 387 square feet to 1,431 square feet.
"There are also plans for a retail piazza, residents' leisure and wellness amenities, landscaped garden, courtyards and community spaces," Soam said.
He added that the company plans to launch the second phase of the project next year.
Soam said the selling price for the Royal Mint Gardens units range from £465,000 to £1,850,000.
He said with the Royal Mint Gardens as its maiden project, there is a possibility that the company will continue to expand in the area.-- Bernama