London calling again - Lodha Group pouches another landmark deal

It seems that London real estate is beckoning the numero uno realty developer in India - Lodha Group.

Mumbai's and infact now India's most renowned developer, Lodha Group has snapped another high-end property in the UK Capital for Rs.900 Crores. Not too long ago Lodha group had made headlines with the deal that saw them purchase a London property from the Canadian High Commission in London.

The land is spread over 1.15 acres with saleable area of 2,00,000 sq. ft.

The property - New Court is located next to London School of Economics & Kings College. The property presently has ground plus 6 storeys which would be developed by the Indian real estate developer into world class, stylish and elegant residential apartments.

West End of London Property Unit Trust is the erstwhile owner of the property and the Lodha Group has made the initial payment of 10% towards the purchase arrangement.

The outstanding payments are believed to be done using the cash flow that the Lodha Group has currently from its Indian Properties. The payment is likely to be done within the month of March 2014 and the realty major plans to finish off the transcation within the first quarter of 2015.

Apart from this Lodha is already scouting for more lucrative opportunities in the London real estate market and is likely to make London its second base. It plans to deliver to London global standard residential properties like the way it has delivered value for money deals to Mumbai and other locations in India.

By virtue of signing this high profile deal, the Lodha Group has become the very first Indian Real Estate Developer to have acquired these kind of significant important properties in an international marketplace like London which is a big achievement showcasing its prowess as well as the vision.

Lodha group has had a rollicking year in terms of property sales having clocked more than Rs.14,500 crores in the past 18 months in India . This factor nmakes it possible for the Lodha Group to actallu self fund this big ticket purchase in London.

The group has already set up a separate arm at Chester Square in London. Apart from that it has hired Tyler Goodwin, former JP Morgan Global Assets Management Managing Director, whos is supposed to be one of the most competent Managing directors in London. Mr. Goodwin will act as the CEO of the UK business for Lodha and his major task would be to undertake & execute the realty business and pursue other future strategies for the Lodha Group in London.

Lodha Group expects a profit of  around 200 million pounds from the sales of the apartments from these two prime properties in London. In the recent times, Lodha Group has shone to the fore as a massive land buyer in India. As we wite this article, it is already building 30 projects in Mumbai and other locations in India.

Lodha's foray into London has been a very carefully planned and detailed one. Amongst a host of other global locations like Singapore, Malyasia - Lodha Group has handpicked London as its real estate destination outside India simply because of the global appeal that this city enjoys in the heart of every individual across the globe. Also the fact that London real estate is very stable and highly evolved ensures that any good real estate product would be appreciated and lapped up.