British developers are gearing up to offer residential projects in Hong Kong following a recent pick up in sales volume, according to Colliers Jardine. A company executive said British property players had had doubts about selling their developments in Southeast Asia because of the regional financial turmoil. 'It was so quiet between March and July that no developer dared come here,' she said. However, their confidence in the SAR had been restored with Hong Kong's economy faring better than that of its Southeast Asian neighbours. With an improved overall market sentiment, there were investors looking for properties worth GBP2 million to GBP3 million (about $24 million to $38 million). Colliers Jardine will soon be releasing two upmarket residential developments in London and Surrey for pre-sale to attract Hong Kong investors and end-users. They include London House, located at the junction of Aldersgate Street and London Wall, within walking distance of the City of London. The developer will offer a rental guarantee for two years at the rate of 9 per cent a year to attract investors. Rental guarantees are aimed at removing fears among buyers about getting tenants. London House comprises 81 apartments with one to three bedrooms and priced from GBP150,000 upwards. Unit sizes range from 421 square feet to 1,137 sq ft. The project is expected to be completed by the summer of 2000. Another project soon to be offered for pre- sale is St James Park in Surrey. Apartments in this development will sell for upwards of GBP260,000.
