Chinese hungry for property opportunities

FOLLOWING the recent launch of its Hong Kong office, Manchester-based Gibbs Investment has secured instructions worth more than £5m from Chinese business looking to invest in the NW property market.

The Bolton firm, part of of chartered surveyors P R Gibbs & Co, has received a trio of instructions.

The news comes following the firm’s recent strategic move to capitalise on the growing appetite for UK property investment amongst Chinese professionals.

In 2014, the Westhoughton-based company established an office in Hong Kong, building strategic relationships with some of China’s leading law firms.

Gibbs Investment chairman Phil Gibbs conducted a number of market development visits to key business destinations, including Chengdu, Wuhan and Hong Kong.

Through the new instructions, Gibbs Investments will identify suitable investment opportunities for three Chinese businesses as they look to gain a foothold in the UK property market.

While many of the world’s major economies are still struggling to recover from economic contraction, China’s economy grew by 7.7% in 2013 and is predicted to overtake the US in 2016.

Mr Gibbs said: “It is incredibly encouraging to have received such large instructions so soon after our initial exploration of opportunities in China, and this demonstrates the huge potential that the Chinese investment market offers. We have spent time visiting China in order to develop relationships which are already yielding positive prospects, therefore we are confident that the near future will see further substantial investments both commercial and residential properties.”