08 Oct 2012 – Media Release
European Land and Property Limited, the development manager for the Merchant Square scheme, is pleased to announce that 3 Merchant Square, the development of luxury apartments forming part of the significant redevelopment around Paddington Basin, is now over 50% sold off plan, achieving over £100m in sales.
The marketing suite for the apartments at 3 Merchant Square opened in March 2012, with construction well underway and completion due in 2014.
Merchant Square is a mixed use development comprising six buildings, including the iconic 1 Merchant Square tower. 3 Merchant Square is the third building to be developed following the completion of 4 and 5 Merchant Square in 2010. The 159 private apartments include a mix of one, two and three bedroom apartments, which are generously proportioned with a focus on quality of design and finish. Residents of 3 Merchant Square will also have access to a secluded roof garden overlooking the canal, as well as a business centre, lounge area and private screening room.
The Merchant Square masterplan will create a new focus for Paddington based around a new waterside garden square. The landscaping will include a new waterside event space, spectacular water maze and a striking new opening bridge across the Grand Union Canal. Merchant Square is a short walk from the open spaces of Hyde Park, the restaurants of Mayfair and the shopping and entertainment facilities of the West End.
Commenting on the sales progress at the development, Richard Banks, CEO of European Land, the development manager of the Merchant Square scheme, said:
“We have been very encouraged by the strong levels of interest in this development which has led to sales well ahead of expectations at this stage. The success of 3 Merchant Square is a testament to the quality of the apartments themselves and their prime central London location, in a peaceful waterfront setting, yet moments from some of Londons main attractions. Merchant Square is one of the capitals biggest regeneration projects and we are delighted that purchasers are taking the opportunity to be part of this exciting scheme.”
John Callander of Jones Lang LaSalle, the sales agent for the development, commented:
“The success of 3 Merchant Square is a direct result of the many hours refining the interior layouts and specification of each and every apartment to ensure they meet purchasers high expectations. These buyers recognise that European Land is delivering a product rarely to be found in prime central London, as showcased in the marketing suite. The combination of exceptional quality and real value in the West End has attracted keen interest from owner occupiers with many sales being generated by word of mouth”.
The marketing suite for 3 Merchant Square is now open and can be reached on 020 7993 7393. Jones Lang LaSalle is the sales agent for the development.
Notes to Editors
About Merchant Square
– Merchant Square is a mixed use waterfront development located around a central square and the Grand Union Canal in Paddington, Central London.
– The development is a 50:50 joint venture between Simon and David Reuben and the Jarvis family.
– The development is managed by European Land, whose track record includes The Point, The Waterside Building, Paddington Walk and Kings Chelsea.