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Fri September 21 2018

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Chinese buyers boost London builder

18 Apr Telford Homes, which specialises in building apartment blocks in London, is set to report record profits on the back of Chinese investors buying its flats.

Flats in Telford Homes' build-to-rent New Garden Quarter in Stratford, east London, are selling like hot cakes in China
Flats in Telford Homes' build-to-rent New Garden Quarter in Stratford, east London, are selling like hot cakes in China

When Telford Homes publishes its results for the year ended 31st March 2018 at the end of May, it will show a 30% lift in pre-tax profits.

The company launched the second phase of its New Garden Quarter development in Stratford in January, marketing first in the UK and then internationally. It booked 100 reservations within three weeks, but only a quarter were from UK buyers. Three-quarters were sold to investors in China and Hong Kong – ‘a growing market for the group’ said Telford Homes.

Telford Homes has 2,900 homes currently under construction and a development pipeline of more than 4,000 units.

Chief executive Jon Di-Stefano said: "Build-to-rent is the most exciting part of our business in the near term and I believe our increased focus on this sector will drive the next phase of our growth and bring even greater success."

MPU

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