Middle Eastern investors snap up properties in North West London

This project was launched off-plan in November last year and has sold over 20 per cent of its development to investors from Middle East and Africa. Carmel Gate is set to officially launch in March this year.

International buyers in London now account for 50% of the prime residential market according to a recent survey by Chesterton Humberts. The survey also highlighted the booming rental market with a large shift to renting over recent years especially in young professionals with one in five people currently renting in the capital. As a global city London attracts people from around the world, offering a safe, secure environment with a stable economy and universal language. With an accessible global transport hub, it is also the world's leading financial centre according to the Z/Yen Group's March 2011 Global Financial Centres Index.

Karen Morris from Glentree Estates New Homes comments: "As one of the world's most cosmopolitan capitals London offers a wealth of cultural and leisure experiences. It continues to defy the odds with property prices increasing and has a buoyant rental market. Despite global economic uncertainty, London remains an attractive place to invest. The London property market has always attracted international investors due to the weak sterling and low interest rates so it has high global demand. Traditionally this has been investors from Russia, The UAE, Asia and parts of Europe, more recently we have been experiencing a high demand from Nigeria in North London especially at Carmel Gate, where we have sold five apartments."

Carmel Gate is a collection of exclusive apartments and villas, set within gated grounds in the prime residential area of Temple Fortune, North West London. Situated in a discreet location, on the site of the historic Carmelite Monastery, which dates back to 1906, the development features both conversion and new build homes, offering many original features with contemporary specification and finishes. No expense has been spared by developer Berkeley, who has created a selection of stunning homes, offering luxury living on a grand scale.

Set to become North West London's most desirable new development, Carmel Gate is ideally located close to a range of excellent schools, shops, parks and transport links, and provides both privacy and high security with a gated entrance, off-street parking, concierge, video entry system and CCTV throughout. Successfully blending old and new, the distinctive architecture and period features of this stunning building have been sensitively converted and skilfully combined with contemporary interiors to create an exceptional and luxurious place to live.

Karen continues: "Carmel Gate has appealed to investors due to its superior build, excellent location and its gated, secure surroundings - all important factors for the rental market, especially young professionals. As it is a converted monastery, it is unique - there is nothing else like it on the market."

The development provides a wide range of luxury accommodation including 22 one, two and three-bedroom apartments, three, three-bedroom courtyard mews houses, two two-bedroom cottages, the original gatekeeper's house which has been converted into a deluxe two-bedroom home and five premium detached seven-bedroom new build villas located to the rear of the development each featuring private, landscaped gardens.

Offering the best in London Living, Carmel Gate is situated in an established, quiet residential street surrounded by large detached homes, in an area renowned for its stylish shopping from elegant boutiques. The neighbouring areas of Golders Green, Finchley, Hampstead and Highgate Villages and Brent Cross Shopping Centre provide endless entertainment options. Golders Hill Park and Hampstead Heath with its 800 acres of parkland are close by, as well as several high achieving primary and secondary schools including Henrietta Barnet.

First class transport links ensure Carmel Gate is ideal for getting around with Golders Green tube station a short distance away, making it just a 15 minute journey to King's Cross St Pancras. The North Circular A406, M1 and M25 motorways provide direct access to greater London and the rest of the country, while Heathrow is just a 35 minute drive away.