- 1 Minute Read
- 20th March 2012
London land attracts bets of £80 million from The Berkeley Group
The Berkeley Group has recently made extravagant bets of 80 million pounds’ worth of land in London.
Tony Pidgley, owner of the group, has a reputation for finding the top market land, and has been successful in purchasing sites which include the former Royal Mail sorting depot in Twickenham which is due to be transformed into 129 homes.
Pidgley’s Berkeley Group says, “the attraction of London as a world city is underpinning sales to international buyers and the current constrained supply of quality new homes in the best locations in the South-East places a premium on Berkeley’s product.”
Interest in London from overseas appears to be just as strong as ever, says the company, which has also shown interest in Battersea Power Station as well as building 242 homes on the Albert Embankment.
The Berkeley Group are of the opinion that they will generate profits of over £2.5 billion, and they have recently announced plans to return £1.7 billion to shareholders over a ten year period.
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