As Singaporean buyers’ preferences for property buying and investments shift overseas, the Temasek Holdings-backed sustainable mixed-use development is proving to be a huge draw.

On the banks of the River Thames, a city is being revived. Launching to over £100 million in sales, Opus, the first residential building at Bankside Yards in London, has seen a wide range of both domestic and international buyers vying for one of its apartments. 

Bankside Yards is the UK’s first fossil fuel-free major mixed-use development in progress, costing £2.5 billion and backed by Singapore entities Temasek Holdings and Hotel Properties Ltd. In line with Temasek Holdings’ preference for investing in sustainable developments, Bankside Yards prides itself on the range and breadth of amenities and services it offers while still maintaining its overall environmental friendliness. 

Opus is Native Land’s first residential building within the grounds of Bankside Yards, and second property following the launch of ESG-focused workspace Arbor in 2023. It is due to be joined by six more buildings, including a Mandarin Oriental hotel, as well as further redevelopment and integration of South Bank’s previous industrial heritage. 

The popularity of Opus’s launch comes following increasing market research showing that buying trends in London are changing, particularly for Singaporean consumers. JLL Research, which covers real estate news, conducted studies in London that showed many Singaporeans (70%) are now purchasing London properties for personal use, rather than as a rental investment. Singaporean buyers also tended to purchase higher-value properties. 

Developments purchased by Singaporeans over the last 12 months in London averaged £1.02m, higher than the average of £951k, a move likely supplemented by the weaker Sterling exchange rate and Singaporeans’ subsequent increase in buying power. Most properties bought were also situated in prime central London neighbourhoods, with an established familiarity with the market being cited as a large draw by those surveyed. 

These sentiments are further supported by Knight Frank Research, with their own studies confirming more Singaporeans buying properties for personal use rather than investment purposes, a stark contrast to previous years. Seb Warner, Head of International Project Sales, said, “The main factor influencing Singaporean buyers when choosing to purchase property in London is centred around quality, the quality of the development/developer and the quality of the location.”

“Singaporeans are generally very specific on this and do a considerable amount of research to ensure they are making the best decision,” he added. 

The popularity of Opus’s launch and revived general interest in Bankside Yards worldwide, including from Singaporean buyers, prove that there is a market for luxury properties that are capable of offering many amenities and services while maintaining their sustainability.

Discove more about “Opus’s successful launch at Bankside Yards a draw for international buyers” on The Peak’s website.