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Residential Schemes Attract Queues Round the Block

LONDON-The openings of some developments are attracting crowds prepared to wait for hours. Developers are treating buyers like customers at the summer sales

By Charlie Jacoby | Updated on April 25, 2002

LONDON-Almost all of Galliard Homes’ apartments at Marble Arch have sold. When the launch commenced, around 500 people were waiting in line. .

Galliard Homes launched its marketing campaign at the beginning of the month and received more than 4,000 calls about the apartments, which start from £169,000. Galliard’s marketing strategy included advertising in regional and national press and 300,000 leaflet drops. It called in extra staff to help show interested purchasers around the apartments and a team of independent financial advisors and lettings agents were also on site.

Galliard Homes launched a selection of one, two and three bedroom furnished apartments. For the investor buyers wishing for an instant income, many of the flats were prelet thus ensuring an immediate return. For owner-occupiers and investors who purchased a tenanted flat but required vacant possession, Galliard offered up to 12 months delayed completion. For the owner-occupier, up to 95 per cent mortgages were available, and for buy-to-let investors, up to 85 per cent mortgages were obtainable. Galliard also offered a net rental guarantee of 7 per cent for two years.

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