Despite a cooling housing market, buying to let is still extremely popular, says Johnny Turner. He looks at new developments with investment potential.
Buy to Let – What to Buy and Where?
Waterloo and Southbank: comment
Tony George, from Frank Harris and Company’s Waterloo and Southbank office, comments that a large proportion of properties around Waterloo and the Southbank are being purchased by buy-to-let investors.
“Most properties in the area are purchased as pied-de-terres or buy-to-let investments. Waterloo and the Southbank have been highly popular in recent years as people have been getting a more reliable return on their property investments compared to the huge ups and downs of the stock market. While this may not still be the case in other areas of London, investors can still see the long-term benefits of purchasing a but-to-let property along the Southbank. While it is commonly recognised that riverside apartments are more likely to retain their value in a sluggish housing market, they also can command a higher rental return.”
Frank Harris and Company highlight that the majority of lets in the area are to corporate tenants, who prefer portered developments and the excellent riverside location. This also works well for investors as they can normally guarantee a longer rental contract through corporate contracts, and they can be assured of the quality of tenants within their properties.
The area around Waterloo and the Southbank is a highly popular area for buy to let investors for many reasons:
The majority of properties are in modern, portered blocks, and therefore do not need a high level of maintenance.
Waterloo offers excellent transport services - As well as the mainline National Rail services, the Jubilee, Bakerloo, and Central and District London underground stations also service Waterloo. The Waterloo and City Line also takes residents directly in to The City.
The riverside developments along the Southbank offer stunning views for residents, with local bars and restaurants offering a range of entertainments.”
The most popular buy to let properties in the area are one bedroom apartments, which range from 550 sq ft to 600 sq ft, and are priced from around £300,000 upwards.
Properties around Waterloo and Southbank are ideally located for those who like to walk to work in and around The City and Westminster. The West End and Covent Garden are also easily accessible on foot.
For more information about properties in Waterloo and the Southbank, contact Frank Harris and Company on Tel 020 7620 3400 or visit frankharris.co.uk.