FreshStart signs deal to bring in Chinese investors

SALFORD-based property developer FreshStart Living has signed a partnership deal with Chinese internet property company SouFun to market its properties to Chinese investors.

Freshstart said that the deal was signed following FreshStart Living’s attendance at a property exhibition in Beijing last month, where it met SouFun Holdings’ chairman, Vincent Mo.

SouFun is a $2bn internet property business listed on the New York Stock Exchange with more than 20m registered users in China, where it employs 6,000 staff.

FreshStart Living said it was one of just 20 companies – and the only one in the UK – to partner with SouFun to attract Chinese investment to their domestic markets.

Within the past month, FreshStart Living has announced the redevelopment of two adjoining schemes – Trafford Press and Empress Mill – in Old Trafford. The schemes will have a combined end value of £19m.

The deal was signed by FreshSTart Living’s business development manager for Asia, Lewis Camilleri. He said: “We’re hugely excited by this partnership with SouFun and it’s a privilege to be working with Mr Mo and his colleagues.

“As China is now one of the world’s wealthiest nations we aim to attract a lot of investment to the Northern property market.

“We expect about 20 Chinese investors to land in the UK every month to view our developments and to buy with confidence.

FreshStart has said that it is planning to sell 1,000 properties in Manchester and Liverpool this year which are mainly being developed via the refurbishment of existing properties. The company said that that Chinese investors were familiair with the North West region not only due to its football teams but also its strong universities and its indigenous Chinese communities.

“Diverting other overseas investments from China to the UK will create one and a half jobs per unit sold and help us to provide more affordable homes in the North West and potentially further afield.”