South-West London is good opportunity, says MiNC's Mahmood

Dubai, 24 August 2004:  London boroughs that are undergoing local government-led regeneration programmes are prime investment opportunities, says Haroon Mahmood of Dubai-based London property wealth consultants MiNC Property Enterprises.

Mahmood said: "Areas in London that have attracted major investment from their local councils provide an excellent opportunity. Prices are low, yet they are clearly areas that will increase in value as the government ploughs money into the transport system, landscaping and environment."

He highlighted Streatham as one such area. "South-West London is a perfect example of where real profits can be made, particularly in the buy-to-let sector.

"Take Streatham as an example: the council has invested a total of 15 million (Dhs100 million) in the economic and heritage regeneration of the area.

"This includes almost 1 million (Dhs6.5 million) in developing the main roads alone, as well as public areas of the town centre, and a 'facelift' to the landscaping. In addition, there are a number of council-driven community programmes to improve quality of life.

"All these add up to an area that is increasing in desirability - and growing in population - year in, year out."

Mahmood is so confident of the appeal of Streatham that MiNC is offering a two-year rent guarantee on apartments in its new development there.

The company will guarantee rental returns of 6 per cent of the purchase price per year on The Picture House, its Art Deco style development. In addition, the company will pay the legal charges for the purchase of any new apartments in the property.

Quite apart from the fiscal sense of aligning property purchases with regeneration zones in London, Mahmood also points out that lower-priced areas represent the best potential return on investment.

He explained: "The lower price points on the London markets are the price points to invest in at present.

"High-price areas, such as those where apartments are more than 750,000 and houses are selling for more than 1million, are likely to continue to struggle. I see the market that comes in below the 1 per cent stamp duty levels, so below 250,000, is a thriving sector.

"In terms of locations in London, the areas to watch are: North-West London, particularly Hillingdon and Harrow; the East End and "City" areas; as well as the re-generation areas around South-West London."

The UK housing market has continued to defy experts, who predicted that it would slow down in 2004. However, figures released in June revealed that the market is still soaring, with prices up more than 20 per cent in the last 12 months.

MiNC has premiered 14 UK developments to UAE buyers in the last 18 months, and the company is trading at a level of more than 100million per annum.

MiNC has a wide portfolio of London property and the company's services include residential investment, investment portfolio development, independent mortgage/remortgage assistance, lettings and furnishing/interior design.

-Ends-

EDITOR'S NOTES:
Headquartered in the London Dockland area, MiNC Property Enterprises has more than 23 years experience in the London property market. A key factor of MiNC's success as property wealth management consultants is the provision of a portfolio of London residential investment property that provides an intelligent investment opportunity, with a focus on delivering high capital growth. 

This mirrors the company's own high-growth strategy, which saw their initial capital in the Dockland area increase more than 20-fold in a 5-year period. Meanwhile, MiNC's tendency to have a joint-venture stake in new developments means cost savings are immediately passed on to potential investors. Additionally, MiNC's turnkey service gives access to ready mortgage facilities often affording the buyer a low capital outlay. 

In Dubai, MiNC runs a permanent exhibition centre showcasing London properties on level 25, Emirates Towers' office complex. 

MiNC can be contacted at
tel: +971 4 3300334,
email info@mincproperty.ae or by visiting the
website www.mincproperty.com

For further information:
Kirstie Hepburn / Fiona Swaffield
Strategic Solutions for
MiNC Property Enterprises 
Tel:  +971 4 3915390 
Fax: +971 4 3672527
Email: media@strategicsolutionsonline.com

© Press Release 2004