Savills branches to New York

The London-based agency, Savills, has formed a new residential association with New York estate agents Stribling & Associates - one of the city's most prominent outfits. The move will extend the agency reach into Manhattan where they specialise in selling luxury townhouses and apartments.

Jeremy Helsby, chief executive officer of Savills 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.

Savills believe that New York is set to become an important source of buyers for UK properties. Since the start of the year, Savills has sold a number of country houses and London houses to US Citizens across the UK particularly near to quintessentially English locations including 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 adds: '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.'