World Property UK is a specialist in prime Central London off-plan residential sales, and is part of the World Property Group of Companies. The group, established in 1978, is recognised both locally and internationally as London’s leading independent real estate group, with numerous accolades from the International Property Awards.
In addition, World Property UK also offers international residential off-plan property in a variety of locations across the globe, including the French Riviera, the Costa del Sol, Dubai, Cape Town, Durban and Florida. As part of a strategic alliance with five of the world’s largest property developers, we are able to gain access to a number of prestigious off-plan developments all over the globe.
In London, our off-plan properties are located in high growth areas. Our established relationship with a number of reputable developers, plus the high levels of investment provided by our investor clients, ensure that World Property UK received information about forthcoming new off-plan property launches before their public release. We are also able to accept offers on such properties before they are made available to the general public.
While the purchase of off-plan properties may not appeal to some, it can have significant benefits. When purchasing an off-plan property at an early stage in its construction, investors have the opportunity to select the very best units within the development with the finest views, and will also have the chance to select the finest finishings of their choice.
Generally, off-plan property is purchased with a deposit of between 10% and 20%, to be paid between one and four years before the completion of construction. As a result, investors in off-plan property purchased through World Property UK are able to benefit from property price growth with financial leverage: 10% of property price growth is reserved for 10% of its price, ensuring that investors enjoy 100% returns on their invested capital.
Through World Property UK, an off-plan property may be bought as a medium to long term investment, or may be sold before the construction of the property has been completed. Should an investor decide to keep a property once the construction has finished, he or she will simply be required to pay a balance with either a mortgage or existing funding, and rent the property out to tenants.
Should an investor decide to re-sell his or her off-plan property before construction is completed, the transaction would benefit from a saving of between 1% to 4% on stamp duty. Stamp duty charges would be based on the property’s current value, as opposed to the higher value that it would command once fully constructed and completed.
What’s more, the purchase of an off-plan property will see an investor benefiting from a full structural guarantee issued by the National House Building Council, ensuring complete peace of mind as to the property’s structural integrity.
Off-plan properties are incredibly easy to purchase, with the investor effectively purchasing a contract. There is no need to obtain a mortgage, no need to manage the property and no requirement to let it out.
Once completed, a newly built property is far easier to maintain, to manage or to rent out to tenants. Alternatively, if you are looking to sell a new build property, it is easier for buyers to obtain a mortgage on favourable terms.
World Property UK is a member of the World Property Group of companies, offering property development in addition to commercial and residential sales. The group headquarters is located on Canary Wharf’s 30th floor at 40 Bank Street, London, E14 5NR.