New GIHLondon Development in Richmond Launched

8 Red Lion Street is GIHLondon's latest London property offer. The former Richmond Police Station will be developed into 19 private residential units.

Online PR News – 20-October-2015 – Hong Kong – 8 Red Lion Street was the former Richmond Police Station and has been reconstructed into 19 private residential units which are now open for enquiries and reservations. It was acquired by Snowfinch LLP, a development joint venture vehicle between the Sunley Group and Beaubridge, is currently undergoing conversion as detailed within a planning consent granted in the Summer of 2014.

Works are currently ongoing to provide nineteen apartments for private residential use, eight apartments designated under the planning consent for affordable use, and retail space of approximately 5,000 sq. ft.

Construction works are programmed for completion in the summer of 2016.

The unique private units, constructed to the highest quality and specifications, will provide one and two bedroom accommodation, situated in Richmond town centre, within walking distance of the well-established cafes, restaurants, boutiques and designer stores. Richmond is also well served by its own tube and train station, offering direct access into central London, and has excellent surrounding road networks.

Why invest in a property in Richmond?

Price per square foot: £800 to £1,300

Price growth in 2014: 5%

The flow of investments in south-west London started pouring in since the financial crisis in prime central London between March 2009 and the end of 2012. Many local and foreign investors sought safety in Richmond because of its solid reputation as a safe haven for investments and the choice of more affluent residents. After the financial crisis, the UK economic recovery reinforced the state of the property market increasing activity among buyers.

Knight Frank analysis indicated an increase of 8% in property price between 2013 and 2014 leading the borough’s value to over £1 million, the highest percentage in England and Wales alongside Kensington & Chelsea. The next two highest boroughs were Westminster and Hammersmith & Fulham (6%).

See details of Red Lion Street here: