Singapore slings cash into Wandsworth property

A Singaporean property firm on Monday shrugged off jitters in London’s luxury housing market, and vowed to continue investing in a Wandsworth flats project.

Frasers Property has been regenerating a former Shell oil site for a number of years, creating 475 new homes.

It said that this year it will start building another 172 apartments after winning planning permission for the final £130 million phase of the Riverside Quarter project.

Of the 172 homes in the new crescent-like building 93 (54% of total) will be for shared ownership, managed by Optivo, and providing affordable housing for Londoners with the entry level allowing for households with an annual income of not more than £46,000. The remainder will be private sale apartments and penthouses.

Simon Lear, the boss of Frasers’ UK arm, said: “Despite Brexit and the recent political uncertainty, we remain committed. We believe that London remains the premier location in Europe for prime residential real estate investment.”