Sales Success At City Road Development

Developer Ghelamco has announced 70% of residences has been sold at its first UK project, The Arc, a mixed-use scheme on City Road in Islington, London.

There are 100 apartments at the site alongside amenities such as a roof garden and terrace, cinema, cycle hub, gym and spa facilities all with panoramic views of the city.

The building also features over 140,000 sq ft of flexible office space, with commercial partners including London’s first UFC gym and Tian Tian. The Arc is on track to complete in early 2024 when the first residents will move in.

Profiles of buyers are split equally between investors and owner-occupiers, with an emerging trend of international clients purchasing homes as investments now with the intention of using them for their own use at a later date.

The Arc’s location has also been a major draw for buyers. The 22-storey AHMM-designed building is in Zone 1, just moments from Old Street Tube and on the doorstep of the fashionable creative hub of Shoreditch.

Marie-Julie Gheysens, head of UK, International Business Development at Ghelamco, commented: “We are thrilled to have reached this significant sales milestone ahead of completion. As we advance towards the final stages of the building, we anticipate these apartments will continue to sell at pace as the ambitious and bold vision of The Arc comes to fruition. We are looking forward to welcoming our first residents in the new year.”

Nick Vaughan, director, London Residential Development, Savills, added: “We are delighted with the success of the sales campaign for The Arc. It has been clear from the outset the development has huge appeal, across both local and international markets, due to not only its intelligent design and focus on sustainability but also the abundance of amenity on offer.

“As the building enters its final build stages and Ghelamco’s vision becomes a reality, we expect demand for the remaining units to increase exponentially.’

Find out more at www.thearc-london.com.

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