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News Release

Singapore

Award–winning City North development set to transform Finsbury Park in London

Jones Lang LaSalle appointed as joint marketing agent for this landmark development




SINGAPORE, 4 September 2013 – Jones Lang LaSalle, as joint marketing agent, is pleased to present City North, a stylish residential and commercial space which provides the ultimate investment opportunity.
City North is located in Finsbury Park, one of London’s most connected places, and is just under 15 minutes by London Underground, that can be accessed right in the heart of the development, to the City, West End and London’s top university and academic institutions. Finsbury Park is set to undergo a large regenerative development creating an inspirational place to live and work. The development, by joint venture company known as United House City North, is the largest regeneration scheme undertaken in this area of London.

Designed by award-winning architects Benson & Forsyth and implemented by Rolf Judd, this visionary development  features two striking 21-storey towers with 120,000 sq ft of premium commercial space, multi-screen cinema, state-of-the art fitness centre and shops, gourmet restaurants, bars and cafes. The stunning design will dramatically change Finsbury Park, creating 308 private residential apartments – from studios to penthouses – with balconies and private terraces, plus resident-only curated spaces.

Prices start from circa £275,000 to £630,000, with rental values between £265 and £615 per week, producing average annual yields up to 5.78%* (see notes to editors).

The design and layout uses ingenious planning modules to enable a significant flexibility in space layout and will boast a tree-lined piazza and roof terraces planted to provide a green connection whilst fulfilling eco-friendly responsibilities.

Jeffrey Adams, Group Chief Executive of United House, said: “United House has an outstanding track record for handling complex regeneration sites in inner London and we are delighted to be working with City North Islington to deliver this scheme with them. The combination of private and affordable homes, shops, restaurants and offices will bring new focus to Finsbury Park.”

Tim Wright, Lead Director – Residential Development & Investment at Jones Lang LaSalle, joint agents for the scheme, said, “Every now and again you see a scheme that will change the way a location works within the prime London market, City North is one such scheme. Not only benefiting from first class transport links, the 110 acres of Finsbury Park but the mixed use nature of the development which has been designed to create a place of real merit and one that people will want to live. United House & The Business Design Centre are adding real value to the location and that will benefit investors and owner occupiers alike”.

An exhibition will be held in Singapore this weekend from 6 to 8 September at the St Regis Hotel, Senator Room. Said Doris Tan, Director of International Property Services (Singapore) at Jones Lang LaSalle: “We have already pre-sold several units of this  landmark project.  United House, with its high quality and specifications,  will deliver the best in terms of finishes.  The location on top of Finsbury Park Station with the commercial at the bottom of the development makes it very convenient for residents.  Add to that both Piccadilly and Victoria Lines at its doorstep, and you have a great scheme which has everything going for it, making it an unbeatable London investment.”

The scheme is due to complete from 2016.

Notes to editors

Guide Pricing

Studios
£275,000 - £315,000
£265pw – £280pw        
Yield up to 5.01%
 
1 Bedroom units
£280,000 - £460,000
£285 - £360pw
Yield up to 5.29%
 
2 Bedroom units
£395,000 - £885,000
£375pw - £600pw
Yield up to 5.78%
 
3 Bedroom units
£525,000 - £1.4m
£550pw - £750pw
Yield up to 5.45%
 
4 Bedroom units
£615,000 – £630,000
£600
Yield up to 5.07%
 
Service charge estimated at £3.75 per sq ft.


City North Islington, an existing trading estate next to Finsbury Park’s mainline and underground stations, is owned by City North Islington Holdings, who also own and operate the Business Design Centre trade, exhibition and conference venue in Islington. The site will be developed in partnership with award-winning United House, who will act as joint developer.

City North was originally designed by award-winning architects, Benson & Forsyth and is now being executed by Rolfe Judd.

United House is a leading housing specialist offering innovative solutions across London and the south as a contractor, developer and investor.

The company, founded in 1964, has achieved impressive, consistent growth, with a turnover of £239 million for 2011, reflecting its outstanding track record for delivering an unrivalled combination of social housing new build, refurbishment, regeneration, mixed use, Public Private Partnerships and private residential schemes, investing in the communities where it works. The company is a pioneer of low-carbon retrofit to reduce fuel poverty.

United House Developments was recently named Homebuilder of the Year at The Sunday Times British New Homes awards 2012 for its exemplary and design-led approach to high-end development in prime locations.
www.unitedhouse.net

Located in Islington, the Business Design Centre is London’s most stylish exhibition centre in the UK , playing host to over 80 exhibitions and 250 conferences every year. We are also the permanent home to over 100 businesses who occupy the offices & showrooms around the perimeter of the centre on 3 floors. Opened 26 years ago in 1986, and formerly the Royal Agricultural Hall, the building was rescued from demolition in 1981 by entrepreneur Sam Morris and was fully restored and re-opened as the UK’s first integrated trade, exhibition and conference complex. Today the BDC attracts in excess of half a million visitors every year.
www.businessdesigncentre.co.uk



Notes to editors

1.    Please contact Vivian Lim at 6494 3824 or vivian.lim@ap.jll.com should you require the high resolution image.



About Jones Lang LaSalle
Jones Lang LaSalle (NYSE:JLL) is a professional services and investment management firm offering specialized real estate services to clients seeking increased value by owning, occupying and investing in real estate. With annual revenue of $3.9 billion, Jones Lang LaSalle operates in 70 countries from more than 1,000 locations worldwide. On behalf of its clients, the firm provides management and real estate outsourcing services to a property portfolio of 2.6 billion square feet and completed $63 billion in sales, acquisitions and finance transactions in 2012. Its investment management business, LaSalle Investment Management, has $46.3 billion of real estate assets under management.
Jones Lang LaSalle has over 50 years of experience in Asia Pacific, with over 26, 100 employees operating in 79 offices in 14 countries across the region. The firm was named ‘Best Property Consultancy’ in nine Asia Pacific countries at the International Property Awards Asia Pacific 2012, in association with HSBC, and was named the number one real estate advisory firm in Asia Pacific in the Euromoney Real Estate Awards 2012. www.ap.joneslanglasalle.com 
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