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Combining striking architecture by internationally renowned Squire & Partners with 169 unrivalled specification homes, amenities and a first-class location at the heart of the culturally rich Southbank in SE1, Triptych Bankside has been hailed as an ‘area-defining scheme.’
The event brought together leading advisors from the High-Net-Worth Space, with Ollie Cutting, Senior Wealth Manager at Maseco Private Wealth kicking off by discussing key trends in the US investment market and the importance of diversification. Growth stocks have shaped market performance and AI will continue to evolve but emerging technologies follow patterns – they shock the world, dissipate, become cheaper, and then create efficiencies.
The key will be to identify supply chain winners and ‘arms race’ winners. Ollie highlighted that we are also in the era of migration, as “global high net worth families are considering their movements as the world readjusts its approach to taxing estates and wealth. He went onto say that despite the politics, and taxes, its worth remembering the perks of the UK: English language, cultural ties, access to Europe, leading education and service professionals.”
Reiterating the UK’s ongoing attractiveness to high-net-worth families, Katie Hawksley of law firm Boodle Hatfield highlighted that the Foreign Income and Gains (FIG) Regime, a change announced in the Autumn Budget, means they can benefit from a 4-year period during which they can bring foreign income and gains into the UK without additional tax charges, presenting a significant opportunity.
Twinned with TRF (Temporary Repatriation Facility), which is intended to encourage former remittance basis users to remit their previously untaxed Foreign Income and Gains (FIG) at a reduced rate of tax, Boodle Hatfield’s view is that the UK is still, and will continue to be an attractive location for foreign wealth in the near term.
Victoria Brown, of BNP Paribas’ International and Private Client Team then discussed drivers for the London market, highlighting the relative currency discounts for US purchasers – up to 10% as well as a shift towards looking at ‘next generation’ Middle East/ Asian based investors. These buyers are less location specific, and more product and quality driven for the long term.
Prime Central London is set to see a more stable 2025 as buyers refocus in the wake of global political events settling. Laying the foundations for this, Q4 2024 saw a 10% increase in sales over £5mn compared to 2023, with best-in-class properties receiving multiple bids. Looking ahead, predictions of 10-15% growth in both sales and lettings values by 2028 will make welcome reading for those investing now.
Prime Central London is set to see a more stable 2025 as buyers refocus in the wake of global political events settling. Laying the foundations for this, Q4 2024 saw a 18% increase in sales volumes over £5mn compared to the Q3 2024 (corrected from 10% y-o-y as not sure where that stat was from), with best-in-class properties receiving multiple bids. Looking ahead, predictions of 10-15% growth in both sales and lettings values by 2028 will make welcome reading for those investing now.
However, from a stock perspective “the window of opportunity is slowly diminishing” concluded Keir Waddell of Strutt & Parker’s Private Client Department. “There are just 15 developments in PCL under construction and only a further 4 with planning but not yet started and based on current sales rates this pipeline will sell out in the next five years. Planning policy has also changed which aims to reduce apartment sizes going forward and will restrict the number of apartments developed over 200 sqm.”
The message? Buy in 2025 to secure your seat at the table. This follows Triptych Bankside achieving over £10m of new sales since the start of 2025, taking the development to 80% sold, with just under £300m in sales.
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Homes are ready to move into, with two-bedroom apartments starting from £1,735,000 and three-bedroom apartments starting from £2,745,000. Visit Triptych Bankside or call +44 020 7205 2629
