Khunying Sasima Srivikorn, a leading Thai real estate investor and co-owner of English football club Reading FC, recommended the United Kingdom as the best place for offshore property investment. Her recent investments in the country have recorded a double-digit yield that prompted her to encourage others to follow her lead, The Nation reported.
It’s not just the football club that she owns in Reading, a city located 66 kilometers west of London. Her group also acquired a hotel in the city, which currently provides a double-digit yield, compared with six to seven percent a similar property would get in other locations, she told the newspaper.
Sasima added that her investment company, Srivikorn Group, was currently awaiting permission from the Reading Council for investment in other real-estate projects in the town including a convention center, hotels and serviced apartments. Reading has transportation connections to London with the upcoming cross-rail route soon to be in service.
Reading also features land prices that are five to six times lower than those in London, she noted. According to The Nation property in London averages GBP2,000 to 3,000 per sqf. but in Reading the price is only GBP400 to 500 per sqf. allowing for better yields.
She also said that the UK was the best location for anyone planning offshore property investment because it is a safe country with clear regulations unlike Thailand where investment can be troublesome due to the country’s unclear regulations, fierce competition in the property sector and political uncertainty.
“The UK is the best place for our investment and, apart from buying Reading FC, we have bought a furniture factory [in Colchester], which generates high growth for us,” she said.
It is also easier to take money out of Thailand for offshore investment because the central bank has relaxed conditions to facilitate these transactions. However, she did point out that people wishing to make these investments should hire the right lawyers to assist with the process so they understand the local tax structure and other issues that can arise during the process.
Image via getreading.co.uk
