Ridgeford Properties Announces 50% of Fitzrovia Apartments Sold off-Plan as London's W1 Property Market Continues to Grow Strongly

LONDON, January 31, 2011 - Ridgeford Properties today announces that only weeks after construction
began on the final phase of the Fitzrovia Apartments development, 50% of
properties have been sold.

The apartments, located on Bolsover Street, W1, are positioned within a
new large scale development that includes the centre for the Royal National
Orthopaedic Hospital, which was built during the first phase of the
development and opened in December 2009.

The development's final phase will complete a total 70 luxury apartments,
30 affordable homes and four state of the art penthouse apartments offering
views across London. The development will also include a portion of office
space, housed in a Grade II listed part of building and 55 underground
parking spaces as well as a stunning private garden.

Commenting on this latest news, Ridgeford Properties Managing Director,
Chris Murray, said:

"We are delighted with the interest shown in these apartments and the
sales are extremely encouraging signs for the central London property market
going into 2011. Fitzrovia Apartments offers buyers the unique opportunity to
live in one of the best new build developments in Central London with access
to all that Fitzrovia, Regents Park, Marylebone High Street and Mayfair have
to offer."

"Fitzrovia remains one of London's gems, offering village living in the
heart of Central London. We are noticing increasing interest in the area, and
our development brings to market a beautifully designed building with state
of the art technology - something buyers expect - and deserve - in today's
market."

"With an eclectic mix of independent shops, restaurants and residential
properties, alongside a growing number of advertising and media agencies,
Fitzrovia is a great place to live and work and play."

Ridgeford Properties Chairman, Sean Murray, said:

"There is a demand for high quality, well-designed and spacious
residential property in central London. We spotted the potential of this area
when we first began working in London and Fitzrovia is rapidly becoming one
of the capital's most desirable locations."

Ridgeford Properties is developing the site as part of a joint venture
with support from Manhattan Loft Corporation. The development is due for
completion in spring 2012.

Notes to Editors

Ridgeford Properties is a property company that specialises in
high-quality commercial and residential developments. Since its formation in
1996, Ridgeford Properties has created more than 500,000 sq. ft. of
high-quality accommodation in central London and is the leading property
developer in the Marylebone and Fitzrovia areas. Its success comes from
adapting global real estate concepts in order to provide London with
imaginatively designed buildings that deliver exceptional value for its
customers.

Emma Capontel tel +44(0)20-7861-2434