James Pendleton launches international division as it predicts strong overseas demand
Property experts James Pendleton have today launched a dedicated international desk to meet what they predict will be a continued wave of demand from overseas buyers post-Brexit.
The agent, which brokers new development sales across London and the Home Counties from its branch network in the capital, predicts that strong demand from international investors will help residential prices grow 5% in London this year.
This is despite a strengthening pound and widespread predictions that London could see a marked outflow of residents seeking larger properties with more outside space, inspired by a lost pandemic year and three national lockdowns.
The new division is being headed by highly-experienced property expert Urosh Teodorovich, who has just joined the firm and will specialise in providing a highly personalised service for buyers primarily originating from Hong Kong, China, Saudi Arabia and Dubai.
Urosh has spent more than eight years working in Hong Kong’s extremely dynamic real estate market. He previously managed the Asia-Pacific property division of the Quintessentially Group following his previous tenure as head of business Ddevelopment for Landscope Christie’s International Real Estate.
Urosh, who is fluent in Mandarin Chinese, has an unparalleled understanding of what it takes to provide buyers with a ‘white glove’ level of service and he will back this up with valuable knowledge of investor preferences and cultural practices in the APAC region.
As part of the new international desk, James Pendleton will offer an end-to-end service, handling every aspect of international transactions from identifying investments, to purchasing, letting, managing, and eventually selling. This will cover individual properties right through to larger developments and multiple asset purchases.
The launch comes on the eve of visa changes for Hong Kong residents that, from the end of January, will mean 5.4 million of them will be eligible to apply to move to the UK and eventually become British citizens.
Lee James Pendleton, co-founder of agent James Pendleton, said: “It’s with great pleasure we bring on board Urosh with his wealth of knowledge and experience of overseas buying clients. The international desk is going to dovetail with our new homes division, which continues to attract a strong international audience.
“There doesn’t appear to be a lot of consensus at the moment as to which direction the UK and London markets will take. We stand in the more optimistic camp because we see the current headwinds as completely different in nature to the financial crisis, which is the last event that precipitated a significant decline in valuations.
“The origins of the current crisis have been medical rather than economic, and massive government support around the world has been busy protecting asset prices. We expect this to produce continued strong demand from overseas buyers and help deliver annual house price growth of 5% in the capital this year.”
Urosh Teodorovich, head of James Pendleton International, added: “London continues to be a top choice for international investors and the ongoing pandemic has not changed that. London remains a truly global city with a stable political system, world-class public facilities and universities, a highly liquid market with reasonable property purchase and holding costs, as well as sustained population growth. I’m extremely pleased to be at the front of the international department of James Pendleton and look forward to providing the very best service for investors along with joining a sterling team of professionals.”
