US buyers in the UK up 65% from 2008

International property advisors, Savills, has formed a new residential association with New York real estate agents Stribling & Associates – one of the city’s most prominent real estate agents.

Stribling was founded in 1980 and employs over 200 people in three Manhattan locations; Stribling Uptown, Stribling Downtown and Stribling TriBeCa. Stribling agents specialise in the sale of luxury townhouses and cooperative and condominium apartments.

Jeremy Helsby, chief executive officer of Savills Plc says, "We are delighted to announce this residential association with Stribling, a leading specialist in New York real estate. There is terrific synergy between our two residential client bases and business sectors, and we firmly believe that this relationship will offer both buyers and sellers of residential property on each side of the Atlantic a level of advice and service that is second to none."

Elizabeth Stribling, founder of Stribling associates adds: “Stribling is very pleased to be associated with Savills whose luxury properties and services meld so well with ours. With 200 offices worldwide, Savills provides access to high net worth clients in luxury markets globally.”

“The importance of this association is two fold,” says Brian D’Arcy Clark, director of Savills in London. First, we can now offer our clients, both here in the UK and in the US access to the crème de la crème of the Manhattan residential property market.

“Second, 65% more Americans are now buying property in London than they did in 2008. The US, and New York in particular, is again set to become an important source of buyers for UK residential properties. This association will strengthen our position in the US market, help bolster the Savills brand in the USA and most importantly widen the service that we can offer our clients.

“Similarly, we have seen increased interest from UK and European buyers wishing to invest in the New York residential market. We are delighted now to be able to offer a direct route into that market.”

US buyers active in prime central London market

So far in 2010 Savills has sold a number of prime properties to US Citizens across the UK particularly near to quintessentially English locations such as Piers Court in Gloucestershire (£2.75 million), Gifford Hall in Wiltshire (£2.65 million) and large lateral apartments in mansion blocks in London such as Coleherne Court, SW7 (£2 million).

Charlie Bubear from Savills Knightsbridge office comments, “There has been a distinct increase in the number of Americans interested in residential property in the UK and taking full advantage of sterling’s weakness. With Savills Research Department forecasting capital growth in prime central London Residential of approximately 18% and 35% over the next 3 years and 5 years respectively, they are fully aware that buying property now is a cost-effective long term investment.”

* IMPORTANT NOTE: This association will be totally independent of the existing Savills New York Commercial office, which offers the highest quality services in investment sales, debt and equity placement, recovery and advisory work in the US commercial real estate market.

For further information, please contact:

Fiona Kingdon, Savills Press Office
+44 (0)20 7016 3751
fkingdon@savills.com