Farghaly: It is a historical building, which will be converted into residential apartments with high quality up-to-date specifications

Mohamed Farghaly Thabet, Executive Manager Utopia Real Estate Group (an associate of Top Real Estate Group) said that having entered into exclusive agreement with Seven Capital, a firm specialized in real estate development in central and northern UK regions, the Group will offer its projects on exclusive basis in Kuwait and Qatar. It will offer Seven Strand Project located in Liverpool. Farghaly added that Liverpool is known for its prosperity with brilliant and global characteristics. Due to the City’s significant interest in arts and sports, it became an exciting place attracting approximately 75 million visitors every year. He said that the City is characterized by its many world-class museums, galleries and theaters. There are also many high quality shopping centers and shops as well as restaurants of different cuisines. Farghaly pointed out that the City, which is the fourth largest city in UK, has four universities with about 18 thousand students from various countries of the world. In addition, the City is characterized by its deep-rooted history where there are more than 2,500 historic buildings marked by their architectural and engineering beauty. On the other hand, UNESCO placed the City on UNESCO World Heritage List. With respect to the real estate aspect, Farghaly said that statistics indicates that the volume of real estate projects in the City currently exceeds £ 7 billion and that return on lease in the City ranges from 5-8% depending on the property location and advantages.

With respect to the project background, Farghaly said that it is a residential building located in the City’s main street, (The Strand Street). The building is one of beautiful historical buildings, and it will be converted into residential apartments with up-to-date quality features and specifications. He added that the apartments will comprise studio to 2 bedrooms with various spaces and prices starting from £ 92 thousand. He pointed out that the acquisition is 125 years leasehold, indicating that the project is under construction and handover will take place in 2016. He added that the client will pay 30% advance payment and the outstanding balance will be paid upon handover. He indicated that the payment and contract procedures will be processed through the client's lawyer or a lawyer recommended by the Group. He explained that the Group's lawyer examined all project related documents before offering it to our clients. Farghaly pointed out that the project is in a prime location in the center of the City and is just steps away from the river, the shopping malls and governmental and commercial centers of the City in addition to distinct overlooks on the river and beautiful historical buildings in the City. He added: we advise our clients to invest in this distinct project and in this deep-rooted city, which provides good returns on real estate investment.