The transformation of London’s landmarks comes as a new wave of Middle Eastern buyers are looking to invest in London’s real estate, following a favourable shift in currency rates. Middle Eastern investors accounted for 24% of all overseas commercial real estate investment in Q4 2016, a figure that is looking to stay strong as the dollar-sterling exchange rate offers significant savings on prime properties post-Brexit.
Almacantar selects challenging and ambitious projects and develops them into landmark buildings that offer long-term value. Founded in 2010, Almacantar consists of a team with a strong track record and deep knowledge of the London market.
The company has acquired over 1.5 million sq. ft. of prime assets in the heart of London including; Centre Point, Marble Arch Place, CAA House, One and Two Southbank Place and 125 Shaftesbury Avenue. These properties will provide occupiers with the best this city has to offer – from stunning park and cityscape views, access to bustling arts, culture and entertainment as well as connections to business hubs across Europe.
Mike Hussey, CEO Almacantar says, “London has long been a favourite property investment market for Middle Eastern buyers, and now even more so with the favourable exchange rates and increased interest from Sovereign Wealth Funds in prime real estate. By taking on complex development sites in the best locations and putting design at the centre of everything we do, we are creating a collection of timeless property assets that compelling investment opportunities. Our properties are incomparable in terms of design, quality and location. We are driven by our love of London and strive to create world-class assets for a world-class city.”
Almacantar embraces emerging creative talent from the worlds of architecture, art and design to bring its properties to life and ensuring that its schemes have a transformational impact on the surrounding area. The result is a “halo effect” from its investment in new high-quality public space, restaurants, shops and public art.
This summer Almacantar will complete its first development, Centre Point. This ambitious redevelopment of the iconic Grade II listed building situated on London’s famous Oxford Street perfectly showcases Almacantar’s skills. Its recognition of the pioneering architecture that has defined the city and its tenacity to deliver a vision for the area will create a project that few could achieve. As well as becoming the “go to” place in London, Centre Point will introduce 82 stunning residential apartments, featuring design influenced by the pattern and rhythm of the tower’s façade, and raise the standard for luxury living in London.
With the completion of Centre Point and a strong pipeline of new projects, Almacantar is now providing the gateway for others to own and occupy their landmark buildings in London.