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Case Study - continued...
Knowing these firm fundamentals, and that there was a growing pool of potential purchasers and tenants, Young Group turned to this latest investment itself. Extensive due diligence confirmed that the project represented value for the firm's clients. The development now known as The Landmark, had much on its side. It was to be a superior quality development comprising two iconic towers, reaching 31 and 45 storeys, making it one of Europe's tallest residential developments. A well conceived commercial area and central landscaped piazza would act to anchor the development within the existing fabric of the community and ensure that once complete the development will be a destination in its own right.
But it was the location, only a 5 minute walk from the heart of Canary Wharf itself, that put The Landmark head and shoulders above other development opportunities within the vicinity.
Young Group's confidence in the location and underlying fundamentals were augmented by the quality and track record of the development team behind the project. Award-winning architects Squire and Partners designed The Landmark, which is being developed by Chalegrove Properties, specialists in residential projects.
Early commitment to the project enabled us to specify the finish and internal layout of the apartments
As with all our investments, Young Group's early commitment to the project and partnering approach enabled us to specify the finish and internal layout of the apartments, always with the objectives of our investor clients in mind.
Since purchasing the West Tower, Young Group has gone on to secure all 368 private apartments in the 45 storey, 459 feet high, East Tower and the freehold to the entire development. As testimony to the appeal of The Landmark, within just seven months all 276 units within the West Tower were reserved and added to investors' portfolios. What's more, three years ahead of completion the property industry itself recognised the development's significance by awarding The Landmark two UK Property Awards in the categories of Best Hi-Rise Development and Best Hi-Rise Architecture, further vindicating our decision.
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