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News Release

Singapore

Quality West London Development Makes its Worldwide Debut in Singapore

Napier at West 3 Targets Growing Overseas Buying Interest in London Properties


SINGAPORE, 8 May 2009 – Berkeley Homes (Urban Renaissance) Ltd, UK’s leading and highly reputable developer will launch ‘Napier at West 3’, its latest residential development in West London in Singapore. The Singapore launch, which is the first for the development ahead of London and other parts of the world, aims to leverage on the growing interest from overseas buyers in London properties. Jones Lang LaSalle is the exclusive marketing agent and will be holding an exhibition of the development on 16th and 17th May from 10am to 5pm, at the Grand Hyatt (10 Scotts Road) in the Sir Henry Keppel III room.

Located in Acton Vale in the heart of West London, Napier at West 3 is an upmarket development offering excellent value and returns. Prices start from £199,950 (approximately SGD 446,000 ) and Berkeley Homes is offering an attractive package of guarantees that includes a 6% return for up to four years, 6% annual return on exchange deposit and 6% rental guarantee for one year , with completion of the development due in 2012.

Jacqueline Wong, Head of Residential at Jones Lang LaSalle says, “London remains at the centre of the world’s business community and is UK’s top employer. With a huge and growing pool of professionals working in London, the demand for quality rental property is high and Napier at West 3 offers an attractive proposition for investors, given its key West London location. We are confident that visitors to our Singapore showcase will be impressed by Berkeley Homes’ latest offering.”

With evidence suggesting an imminent recovery in the UK housing market, industry experts are of the view that now is the best time to buy a property in London.  The National Association of Estate Agents has reported that property sales are increasing, as is the number of house hunters registering interest . With housing market optimism gathering momentum, prices could rise as a result of a more positive outlook.

Furthermore, buying properties in London now has never been more attractive as the currency exchange rate of the Singapore Dollar grows in strength against the British Pound.  Spurred on by the weak Pound, Berkeley Homes’ website has seen significant increase in visitors from the international community. In the first quarter of 2009, 29% of traffic to the Berkeley Homes website came from outside of the UK, an increase of 10% on the same period in 2008. At some of the developer’s London sites, up to 40% of buyers are from overseas. There is strong interest from the Far East, where buyers are choosing London as the primary education destination for their children. Berkeley Homes’ Napier at West 3 offers parents with children of school age, stylish and secure properties close to some of the capital city’s best educational institutions such as the University College of London and Thames Valley University.

The first phase of this exciting new development comprises a mixture of Suites, Manhattan Suites, and one, two and three-bedroom apartments and penthouses, ranging from approximately 320 sq ft to 982 sq ft. They are ideal for families, professionals and investors alike. In addition to an exclusive living environment, residents at Napier at West 3 will benefit from the amenities of the existing Berkeley Homes’ West 3 London Apartments scheme, which is located adjacent to the development on Bromyard Avenue. These include 24-hour concierge, an estate management office, a fully-networked business suite with a function/boardroom, gated entrances, secure parking, fully managed communal areas and a car club.

Napier at West 3 is well connected to central London, the West End and Heathrow Airport, with a plethora of public transport options and road links on the scheme’s doorstep. Residents will also have access to world class shopping, entertainment and educational facilities, all within a close radius.

Paul Vallone, Managing Director at Berkeley Homes notes, “Napier at West 3 offers supreme specification, valuable on-site amenities, a well-connected location and a secure environment. What’s more, it bears the Berkeley Homes name – a brand that sets the standard in quality house building. We are pleased to offer Singapore purchasers the premier release of Napier at West 3 as we know they will appreciate the product we have.”

About Berkeley Homes
Berkeley Homes is a dynamic and innovative company with a passionate commitment to providing high quality homes in excellent locations in London and the South East of England. It is a leading urban regenerator, working in tandem with high-profile partners to deliver revived communities, and improved private and social housing.

Founded in 1976, Berkeley Homes is the largest division of the Berkeley Group Holdings Plc, a FTSE 250 company. The Group’s annual turnover is in excess of £1billion.

The Berkeley Group’s 2008 year end results showed that the company continues to have solid financial foundations, enabling it to go into the future with confidence and to capitalise on its strengths. The Group has outstanding balance sheet strength, gearing below 1% and forward sales of £1.2 billion. Other highlights of the financial year ended April 2008 include pre-tax profits of £194.3 million, showing an increase of £6.2 million from 2007. The land bank is also is excellent shape, with holdings of 31,365 plots valued at £2.7 billion.