Tag Archives: www.brlets.co.uk

Business, Real Estate

DEMAND FOR RENTAL PROPERTY IN KNIGHTSBRIDGE REACHES TWO YEAR HIGH WITH AVERAGE OF 10 APPLICANTS FOR EVERY PROPERTY

Leave a comment

Knightsbridge continues to be one of London’s rental property hotspots, with demand at record levels, according to Benham and Reeves Residential Lettings, one of the area’s most popular letting agents On average, the number of tenants looking for a property to rent in Knightsbridge and Chelsea has reached a figure of around 10 per property and landlords are reporting rental increases of as much as 20% over this time last year.

According to Marc von Grundherr, director of Benham and Reeves Residential Lettings, the boom in rental demand is being fuelled in part by the continuing shortage of new rental properties as the number of tenants renewing their existing tenancy agreements reaches record levels.

“Around 76% of our tenants are renewing their existing leases at the moment, an unprecedented figure. This is leading to a severe shortage of rental properties, a problem that has been getting worse over the last 18 months as tenants realise they are unlikely to find a better or cheaper property elsewhere. This is compounded by the number of first-time buyers still unable to find a mortgage who are choosing to rent instead, together with the increasing number of professionals moving to London because of the upturn in the employment market.” explains Marc.

“Knightsbridge and Chelsea continue to be extremely popular, with more single professionals and couples coming to live in the area. One and two bed apartments are in particularly high demand, both in new developments and well modernised period conversions.” continues Marc. “One bed apartments in the £350-£500 per week price bracket and two bed apartments at £500-£750 per week are in very short supply and we’re constantly looking for new instructions in this price range as we have prospective referenced tenants in waiting. The good news for landlords is that rents are also increasing and are at their highest since 2008.”

Benham and Reeves Residential Lettings works closely with relocation agents and here too there has been a significant shift in the type of enquiries that are being received. “Traditionally, much of the business we receive at our Knightsbridge branch through relocation agents tends to be for larger, family properties but the last 12 months have seen a move towards smaller one and two bedroom properties.” reports Marc.

The shortage of one and two bed rental properties in Knightsbridge is prompting some tenants to look further afield. Marc continues: “New developments like This Space in Wandsworth are proving to be very popular and are a great alternative for professionals wanting to live near the centre of London. Landlords may find that rental prices are currently a little under what developers originally suggested; this is mainly because figures quoted were slightly high when apartments were first sold off-plan. We often find this problem, especially in the current economic conditions but with rents now climbing, developments like this represent a good long-term rental investment for landlords.”

“And when it comes to larger, family properties at the higher end of the market (£1,500+ per week), a number of factors come into play when tenants are deciding where to rent a property. Finding a good school place is one of these and it can be difficult in Knightsbridge as the best independent and state schools are often over-subscribed. Many families only realise this once they have moved to the area and are then faced with this unexpected problem. That’s where our local knowledge comes into its own. Our Brompton Road office has been established for over 10 years so we know the area really well and we can advise tenants on how to overcome these problems – our service goes far beyond simply finding a client a home.”

To find out more about Benham and Reeves Residential Lettings, www.brlets.co.uk

Press enquiries:

Tracie Lack
Tel: 020 7433 6670

Business

THE JEWEL IN THE CROWN – LUXURIOUS HAMPSTEAD PROPERTY AVAILABLE TO RENT FOR 10,000 PER WEEK

Leave a comment

Traditional English character and a delightful, secluded location in one of Londons most sought-after residential areas mean that Grove End, a stunning detached residence in Hampstead, wont be on the rental market for long. The beautifully furnished Queen Anne-style property, which boasts seven double bedrooms and its own heated outdoor swimming pool, is available to let for 10,000 a week through Benham and Reeves Residential Lettings.

This elegant, 5,260 sq ft home simply oozes English charm and character, with a mix of classic furnishings and carefully chosen antiques. Tucked away behind Heath Street, it is situated in a quiet backwater yet is close to all the amenities of Hampstead High Street and only minutes away from the west side of Hampstead Heath and the world-famous Kenwood House.

When it comes to the wow factor, this property has it in spades. Elegant wrought-iron gates create an impressive entrance while also offering excellent security. And for anyone that likes to keep fit, this property has it all – a heated, outdoor swimming pool, a well equipped gym and a sauna.

Arranged over three floors, the propertys grand marble-floored entrance hall leads to a suite of reception rooms including an elegant drawing room, dining room, study and conservatory, all of which are extremely spacious, with high ceilings and delightful views over the mature, landscaped gardens. As youd expect, the kitchen is luxuriously equipped while the adjoining breakfast room leads directly onto the garden.

Upstairs, there is a stunning master suite with his and hers bathrooms and dressing rooms plus six further double bedrooms, with five en-suite bathrooms and two family bathrooms.

Every practicality is covered and theres parking for two cars in the integral garage, as well as further off-street parking.

Hampstead has long been a favourite of Londons professionals as well as celebrities such as Jamie Oliver, Emma Thompson and Helena Bonham-Carter. The area is also popular with professional corporate tenants and expatriate families who love its homely, village feel.

Its not hard to see the appeal of this charming village location, reports Anita Mehra, Managing Director of Benham and Reeves Residential Lettings. Hampstead is well known for its tree-lined avenues and fine Georgian and Victorian properties. Hampstead Heath is Londons largest ancient parkland and boasts incredible views across Londons skyline from Parliament Hill. And Kenwood House is one of Londons most popular visitor attractions an elegant villa set in landscaped parkland, housing treasures including paintings by Rembrandt, Turner and Gainsborough.

Hampstead is also known for its vibrant caf culture and has a plethora of trendy bars as well as historic pubs and of course, an eclectic mix of restaurants ranging from French and Portuguese to Moroccan and Argentinian. Yet the area still retains its charming village atmosphere which makes it quite unique and altogether different in character from other areas of London. And all this is less than two miles away from the West End! .

To find out more about the latest properties available at Benham and Reeves Residential Lettings, visit www.brlets.co.uk
Press enquiries:
Tracie Lack
Tel: 020 7433 6670
brmarketing@brlets.co.uk

Editors notes:
Established in 1956 in Hampstead London and now with ten offices in the prime residential areas of London (and overseas offices in Singapore, Hong Kong, Dubai, Delhi and Mumbai), Benham and Reeves Residential Lettings is recognised as one of largest www.brlets.co.uk and property management agencies. To complement this, they also provide an interior design, refurbishment and furnishings service for London rental investment properties to Landlords based worldwide.

Financial, Real Estate

Lanterns Court Apartments Show Canary Wharf Lettings Are Still Red Hot

Leave a comment

December 17,2010 – As winter temperatures plummet, lettings at Lanterns Court are red hot as rental demand soars for apartments at the new Canary Wharf development.

Here at Benham and Reeves Residential Lettings, we’re seeing enquiries flood in from tenants and our Canary Wharf office let our

first two apartments there within just 24 hours of receiving instruction.

The first one bed apartment was furnished (by Benham and Reeves Lettings’ sister company In:Style Direct) and let with six months’ rent paid in advance.

to an architect for £335 per week and the second one bed apartment was let to a student for £350 per week (also paying 6 months rent upfront) – achieving 16% more than

other agents have been asking at the development.

“This is a great result for our client,” reports Anita Mehra, Managing Director at Benham and Reeves Lettings. “Although I’m not surprised at the level of demand.

There’s a huge shortage of good rental stock across London at the moment, with around eight applicants for every rental property. And Canary Wharf is still one of the

capital’s growing rental hotspots, with demand outstripping supply.”

“Lanterns Court’s location is hard to beat. It’s next to the incredibly popular Pan Peninsula building and, with stock there now drying up, corporate tenants are keen

to find a home as close to this location as possible.”

“We have a number of overseas clients, particularly from Hong Kong and Singapore, who have purchased apartments at Lanterns Court and this is excellent news for them.”

continues Anita. “With a typical purchase price of around £250,000 for a Studio, landlords are looking at a gross rental yield of around 7.2%, a fantastic return for

this type of prime London location.”

“Many would-be first-time buyers are still finding that they cannot obtain a mortgage, so demand for all types of rental property looks set to remain strong – the

number of tenants looking for a property to rent is twice as high as in 2007 and, in fact, has reached an eight-year high. And this shortage of stock has resulted in

a 13.3% rise in rents since January, with experts predicting at least a further 5% increase in 2011.”

“When a swathe of new apartments come on stream at the same time, most landlords recognise that it pays to make sure that a property stands out. Furnished apartments

let more quickly and also tend to achieve a higher rental, with corporate tenants in particular preferring an apartment that they can move straight into.”

“With this in mind, we instructed furnishing specialist In:Style Direct, who furnished one of the apartments with stylish, contemporary furnishings and accessories,

creating a modern and sophisticated interior designed to appeal to a professional, corporate tenant. Of course, we were delighted that the apartment let immediately –

but this isn’t unusual for In:Style Direct – over 85% of the apartments they furnish are let within 48 hours.”

For more information on rental properties in Canary Wharf, contact Lisa-Jane Stratton at Benham and Reeves Residential Lettings’ Canary Wharf office on 020 7038 8057

or email canarywharf@brlets.co.uk or visit www.brlets.co.uk

Press enquiries:
Tracie Lack
Tel: 020 7433 6670
brmarketing@brlets.co.uk

Editor’s notes:

With ten offices in the prime residential areas of London (and overseas offices in Singapore, Hong Kong,Dubai, Delhi and Mumbai), Benham and Reeves Residential

Lettings is recognised as one of London’s largest specialist lettings-only agencies. Established in 1956 in Hampstead, they are also one of the only

London lettings agents to offer an interior design, refurbishment and furnishing service for investment properties through their

subsidiary In:Style Direct.