The Cock Lane development, within walking distance of St Paul's Cathedral, has been purchased by MiNC for short-let leased apartments. MiNC now offers the development for sale and lease-back.
According to director Haroon Mahmood, the development allows investors the ability to capitalise on the growth of London real estate, without the hassle of property purchase and ownership.
"London property prices have boomed in recent years, leaving it out of the reach of many people. With a minimum level of investment set at £30,000, we have opened the investment opportunity to a broader market.
"However, the most important point to note is investors receive a fixed return on their investment of 10 per cent per annum, taking away any risk associated with investing in property and providing regular income. Even if the value of the building decreases, this will not affect the regular income."
The property was bought by MiNC for more than £5million recently, and Mahmood added, "MiNC will re-evaluate the value of the property in '5 years' time, and buyers will receive 50 per cent of the profits on the sale price.
Mahmood has long advocated that subjectivity should be taken out of the equation when choosing property on a investment-only basis. "This is the perfect example of viewing property objectively in terms of its income potential alone, rather than as a future home, which can cloud judgement."
MiNC has premiered 14 UK developments to UAE buyers in the last 18 months, and the company is trading at a level of more than £100million per annum.
The group has a wide portfolio of London property and the company's services include residential investment, investment portfolio development, independent mortgage/remortgage assistance, lettings and furnishing/interior design.
Meanwhile, MiNC is now selling a selection of properties including units from each of the major freehold developments such as Palm Island, as well as many in the EMAAR, Nakheel and Esthitmaar developments. These properties are being sold off-plan.
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MiNC offers affordable London property investment opportunity
- United Arab Emirates: Tuesday, November 09 - 2004 at 10:24
- PRESS RELEASE
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Dubai-based MiNC Property Enterprises has added a new London property to its portfolio, offering customers the chance to invest per square foot for a fixed income rental of 10 per cent per annum.
Haroon Mahmood.
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Posted by Anne-Birte Stensgaard, Senior News EditorTuesday, November 09 - 2004 at 10:24 UAE local time (GMT+4)
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Notes and Media Contacts »
Headquartered in the London Dockland area, MiNC Property Enterprises has more than 26 years experience in the London property market. A key factor of MiNC's success as property wealth management consultants is the provision of a portfolio of London residential investment property that provides an intelligent investment opportunity, with a focus on delivering high capital growth.
This mirrors the company's own high-growth strategy, which saw their initial capital in the Dockland area increase more than 20-fold in a 5-year period. Meanwhile, MiNC's tendency to have a joint-venture stake in new developments means cost savings are immediately passed on to potential investors. Additionally, MiNC's turnkey service gives access to ready mortgage facilities often affording the buyer a low capital outlay.
In Dubai, MiNC runs a permanent exhibition centre showcasing London properties on level 25, Emirates Towers' office complex.
MiNC can be contacted at tel: : +971 4 3300334
For further information:
Kirstie Hepburn / Fiona Swaffield
Strategic Solutions for MiNC Property Enterprises
Tel: +971 4 3915390
Fax: +971 4 3672527
This mirrors the company's own high-growth strategy, which saw their initial capital in the Dockland area increase more than 20-fold in a 5-year period. Meanwhile, MiNC's tendency to have a joint-venture stake in new developments means cost savings are immediately passed on to potential investors. Additionally, MiNC's turnkey service gives access to ready mortgage facilities often affording the buyer a low capital outlay.
In Dubai, MiNC runs a permanent exhibition centre showcasing London properties on level 25, Emirates Towers' office complex.
MiNC can be contacted at tel: : +971 4 3300334
For further information:
Kirstie Hepburn / Fiona Swaffield
Strategic Solutions for MiNC Property Enterprises
Tel: +971 4 3915390
Fax: +971 4 3672527
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