Residential developments in high-profile locations in London
that boast extra amenities and facilities are attracting a lot of attention from young professionals in the capital, one lettings agency has noted. This could make such complexes ideal targets for property investment, as it should not be difficult to find tenants.
Benham and Reeves Residential Lettings made the observation, Property Wire reported, with director of the firm Marc von Grundherr telling the publication that it is "a complete lifestyle" that draws people in, rather than a particular residence.
He went on to point out that with demand for such locations so high, "this type of property is a wise investment
". "Not only will it be a magnet for potential tenants, it will be easier and cheaper to maintain than an older property or period conversion," Mr von Grundherr explained.
And it seems that it isn't only new residential developments that are attracting tenants, prime London office space has also risen in popularity. According to Knight Frank's May London Lettings Index, more European organisations have been seeking out commercial property in the British capital. Overall, volumes increased by seven per cent year-on-year last month.
- Friday 24 June 2011