China developer ignores London property gloom to launch £800m luxury flats tower

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China’s Greenland Group has shrugged off the clouds gathering over London’s luxury flats market and fired the starting gun on the tallest residential tower in Europe, featuring an infinity pool, gym and cocktail bar.

The launch of the £800 million 67-storey Spire London tower in West India Quay marks one of the most ambitious housing-project commitments here since Britain voted in June to leave the  European Union.

It comes despite market concerns over a glut of homes in parts of the capital and house prices across much of central London slumping during the month of the Brexit vote.

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Agents CBRE and JLL have been appointed to start selling some of the swanky 861 apartments from next month.

They will be priced between £595,000 and around £3 million, and construction will complete in 2020.

Wenhao Qian, managing director of Greenland UK Investment, said the launch “reflects the confidence that Greenland continues to have in both the London economy and the London property market”.

He added: “We believe there will be significant demand for the apartments within this tower from both the UK and overseas.”

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By Joanna Bourke Courtesy Evening Standard

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