NEWS

'Landmark apartments in City's financial core'
The Irish Times
14.02.08

An Irish syndicate wanted to buy all 200 apartments in a new scheme in London's East End that promises views of St Paul’s and the Gherkin, writes Property Editor Orna Mulcahy.

Apartments in a £120 million (162 million) scheme in the City of London will be pitched at Irish buyers when they go on sale from plans next week at prices starting from €436,000.

About 45 of the units will be studios – multi-function spaces with concealed kitchens, good-sized bathrooms and beds that descend from the wall. These are aimed at business people who have to be in London for a few days a week and want a comfortable bolthole rather than a full-time home.

'The lack of residential property in this area alone will ensure high London rental yields, says Lyons, who after good years and bad years in London is optimistic about the city. "London property is a tremendous investment. It is nearly like having gold bars".