According to the property development company Galliard Homes the Tottenham Court Road West (TCRW) development in Soho, London, has accumulated a grand total of £50M worth of off-plan sales, with the majority of buyers acquiring the properties to use as student accommodation.
Furthermore, Galliard Homes state that an event, where 81 of the 92 apartments were up for sale, was attended by more than 500 people and saw to the rapid sale of 31 of the apartments which are now set to be used as ‘study-pads’.
The TCRW development is worth £140M and is located above the Tottenham Court Road Crossrail Interchange, on the corner of Oxford Street and Dean Street, and is comprised of two buildings, one of which consists of an art-deco design while the other takes its inspiration from Georgian architecture.
The development has been designed by the Hawkins\Brown architectural practice and the interior design has been handled by Argent Design, with completion of the development scheduled for 2022 following the completion of the Crossrail in 2021.
The Sales Director at Galliard Homes, David Galman stated: “Over the next five to ten years Soho and Oxford Street will become one of Prime Central London’s most sought after residential addresses.
“Our TCRW project, alongside other new luxury developments, is transforming the top of Dean Street into a residential destination alongside new retail outlets designed as entertainment venues and brand ambassadors rather than traditional retail sales spaces.
“Pedestrianisation, Crossrail, and electric vehicles are the three major ‘game changers’ for Oxford Street, making the West End a cleaner, much less congested and quieter place to live.
“The strong off plan sales at TCRW show that discerning people understand what Oxford Street is set to become and are buying into a location that is benefiting from massive regeneration and transformation into a residential address.”
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