Barratt Developments is enjoying an “Aldgate boom” after selling £6 million worth of flats in the City area in the last week alone, chief executive Mark Clare said today.
The firm launched its Altitude development, one of two the housebuilder has under way in Aldgate, last week and sold 10 off-plan for around £600,000 each.
Berkeley and Redrow also have competing schemes in the area.
Clare said: “The whole area is going to be transformed over the next two or three years. It’s on the fringes of the City so it’s very attractive for City folks to buy into.”
Barratt’s Maple Quays scheme in Canada Water is also selling well while other major London sites — Horseferry Road, Great Minster Street and Fulham Wharf — will be launched soon.
The company more than doubled pre-tax profits to £46.1 million in the six months to December 31, helped by its best year for London sales since the pre-credit crunch days of 2007.
