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In a move that’s sure to silence some of the negative forecasts surrounding the commercial market in London as we continue to negotiate a deal with the EU, Malaysian developer AlloyMtd has announced its plans to find its next big project in the capital.
The company is behind the 380,000 sq ft development currently underway at One Crown Place, which it acquired from UBS in 2013.
Although the £500m GDV mixed-use scheme is still some way off completion, AlloyMtd is confident enough to push ahead with further projects, and has specified that it has no plans to look anywhere else for development opportunities.
Indeed, the firm’s chief executive Tee Kim Siew has confirmed plans to seek out new acquisitions in the capital; “We are focused to deliver this project but we are on the lookout for new opportunities… Looking at what we have learnt from the One Crown Place development so far, we know we can handle it… From the part of the world we come from, London has always been number one… We are very London-centric. It’s a market we understand and we have learnt so much from it… Notwithstanding Brexit, London will continue to be the number one investment destination. We remain very confident about London as far as investment is concerned.”
This news was brought to you by Morgan Pryce, a specialist tenant acquisition agent with offices in Oxford Circus and the City. Morgan Pryce specialises in search, negotiation and project management and works exclusively for tenants.