29th Sep 2023|Life at Centrick|News|Sales|Lettings|New Homes|

Centrick Completes Dozens Of Sales To Overseas Investors

Residential property and property investment expert Centrick Invest has today announced it has completed the sale of dozens of apartments to overseas investors at developments in the West and East Midlands.

Centrick Invest has been working with developers to find buyers for more than 55 apartments at four residential developments in Birmingham, Nottingham, Stafford and Sutton Coldfield.

The Birmingham-based team which launched their investment offering earlier this year has agreed more than 55 residential investment sales since April, with the majority sold to overseas investors in the Middle East and Far East, according to new homes and investments director Andy Butts.

Andy said: “We have very successfully engaged the overseas distribution arm of Centrick Invest to deliver the very best outcomes for our UK clients. Working alongside several developers, we have been able to offer overseas investors some very attractive opportunities and it is great to see so many sales being agreed.”

At Image House, Foregate Street, Stafford, Centrick Invest has agreed sales on 75% of the development since release in mid Q2 and expect that the entire development will be fully sold out by the end of Q3.

“We had been managing this development for a client over the past two years and, after sitting down with them to review their investment, they decided it was the right time to exit. Given the appetite for emerging UK investment locations, we agreed to engage our overseas distribution arm of Centrick Invest with huge success,” said Andy.

“At the Old Art School in Sutton Coldfield our client approached us after trying to sell 12 luxury apartments with a local estate agent with limited success. Again, having reviewed their options we felt the offshore sales strategy was the right one to have maximum impact. Aimed towards overseas investors in the expat community in the Middle and Far East, we’ve seen some great early success, agreeing sales on 50% of the development in the first four weeks.”

Meanwhile, Centrick Invest has also seen significant success at Glassworks in Nottingham’s city centre. The permitted development conversion of an historic glassworks site was launched off plan in a number of territories. Nottingham has continued to grow in popularity with both domestic and international investors and over 90% of the development has been reserved by off-shore buyers in just four months. Centrick Invest expects the remaining units will be reserved in advance of PC which is expected in early November this year.

Andy said: “We’ve been consulting partners with our client on this new home conversion for over two years now and have been with them every step of the way. Like a lot of projects, the build start date slipped due to Covid but once the contractor was able to mobilise and start on site late last year, it was clear that we needed to reassess the developer’s exit strategy.

“After due diligence and weighing up the value options, the client opted to take this development to market through our offshore distribution channel and has seen exceptional results. As well as fully guided investment sales we’ll also be helping all of the investors purchasing these apartments with initial set-up of their assets, from providing furniture packages, finding suitable tenants as well as looking after the overall building and estate management.”

Centrick Invest was launched in late 2022. It is a new service designed to ensure that property owners – ranging from accidental landlords to major investors – are squeezing every pound, dirham, euro or dollar of value out of their portfolios.

Centrick Invest helps by demystifying the jargon-fuelled property landscape, even for many that have existing property investments, and explores the reality of how properties are performing now and into the future.

Centrick has grown consistently since its inception by successfully prioritising innovation, expertise, and building trusted relationships with its clients to deliver high quality service and results. First opening its doors in 2005, the agency now has over 20,000 properties across the UK on its books and manages over £3 billion in client assets.

About Centrick

Centrick’s vision is simple, “to make customers’ lives better everyday, the Centrick way” and for almost 20 years Centrick has nurtured, driven and grown its team by delivering industry leading service. Centrick prides itself on being a company of knowledgeable industry experts with a trusted, joined-up approach to all aspects of residential property. Innovation is at the heart of everything it does, helping it to adapt to the ever-changing market. This is all underpinned with a strong ethical code of trust and family values, where the team works as one to deliver exceptional service.

National residential property experts, Centrick is forward-thinking and agile; always looking for new ways to work flexibly to meet the needs of its clients, using its strength and depth, across the property sector. By investing in talent, leading the way on industry practices, developing its technology and systems, it delivers an outstanding service to clients. Providing services across the UK, with offices in Birmingham, Solihull, Nottingham, Fareham and London, Centrick’s services include:

  • Residential sales
  • Residential lettings
  • New homes
  • Build to Rent – BTR, Student & SFH
  • Valuation
  • Professional Services
  • Asset Management
  • Insolvency
  • Estate Management

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