British developer boosted by China

Country Garden will develop an industrial site in East London, visible on the right of this photograph by the River Lea. Photo credit – Rupert Reid

British developer boosted by China

British developer Telford Homes has credited sales to Chinese investors with helping it to achieve record profits.

The firm recently revealed a 3o percent rise in profits, boosted largely by strong sales in London.

According to the company, as many as three quarters of sales in recent developments have been to buyers based in China.

Telford Homes is not the only company to feature in the news recently in connection to growing ties between the property markets of the UK and China.

Earlier in April, we reported that China’s biggest property developer, Country Garden, has been revealed as the investor preparing to plough £80 million into constructing 785 new homes on a site in East London.

The location for the development is Alisa Wharf on the River Lea in Tower Hamlets, pictured above.

Presently it’s a barren waste of used car parts, opposite giant warehouses belonging to Amazon and Sainsbury’s on one side of the river, with the approach road to the Blackwall Tunnel on the other side.

However, it will be transformed by Country Garden’s investment, and has excellent access to local transport links.