As furnishing specialists working at the heart of London’s property investment market, we have the inside track on upcoming areas that present good opportunities for long-term rental investment. With so many new builds popping up all over London, below is our watch-list of growing hotspots.
Nine Elms
This Zone 1, former industrial area is most famous for being the home of the iconic Battersea Power Station. Good transport links as well as a £15 billion revamp will eventually create an exciting new residential hub. The average rental value here is £390 per week for a studio apartment rising to £850+ per week for a three-bed unit. As the appointed furnishings provider to UK developer Taylor Wimpey, we are now creating bespoke interior schemes for home owners and 300 furnishing packages for landlords with properties in Battersea Exchange, Battersea Power Station , Embassy Gardens, Vista and Riverlight to name a few.
Victoria
Being one of the busiest interchanges in Zone 1 has meant Victoria has the benefit of excellent transport links. Earmarked for regeneration in 2011, its mix of old mansion blocks and new developments has brought investors an average rent of £350 per week for a studio apartment, rising to £1,040 per week for a three-bed unit on average.
Our portfolio includes home staging projects at a newly refurbished and converted building Willow Place, where one of the apartments got an offer within two weeks. The developer was so pleased, they’ve ordered the same home staging furnishings to be used elsewhere in the development.
Westminster
Famous for the Houses of Parliament, the historic Abbey, Buckingham Palace, in fact, there are so many London landmarks in this Zone 1 district, that visitors and residents alike are spoilt for choice. Little wonder then that it is a popular area with tenants who are on average paying £350 per week for a studio apartment; £475 per week for a one-bed apartment; £640 per week for a two-bed apartment; and £1,040 per week for a three-bed apartment.
We completed 10 show flats in the luxurious Great Minster House property development and are due to provide similar high-end furniture packages for show flats in nearby Chapter Street development for Barratt London in 2017.
Aldgate
Stretching from Whitechapel to the East End, this Zone 1 area is popular with professionals in the financial sector, designers and artists. It’s an eclectic mix that suits the area which is a fusion of historic buildings (including Roman ruins) and purpose-built developments within easy reach of the City and Canary Wharf. Average rental values here are £350 per week for a studio apartment up to £750 per week for a three-bedroom apartment.
We’ve been completing furnishing projects in Goodman’s Fields for Berkeley, where demand is so great that we’ve been dressing and furnishing the apartments prior to the building’s completion so tenants can move in the moment it’s finished.
Hammersmith
What was once a sprawling, Zone 2, commercial centre has re-emerged as a desirable riverside location. Landlords can expect to receive an average of £280 per week for a studio apartment; £360 per week for a one-bedroom apartment; £470 for a two-bedroom apartment; and £650 for a three-bedroom apartment.
High-end properties in developments such as St George’s Fulham Reach in Hammersmith are being snapped up and our strategically placed showroom on-site is well placed to help landlords who need furnishings for their rental properties here.
The BBC may have moved from their famous studios at nearby Shepherd’s Bush but there are plenty of broadcasting and media agencies to attract professional tenants, not to mention the lively cafe culture at the river’s edge.
Canary Wharf
From a run-down dockland to a gleaming city of skyscrapers, this Zone 2 district has gone through a remarkable transformation. Now the base for most banks’ international headquarters, the demand for rental property for employees is still immense. Landlords are receiving, on average, £330 per week for a studio apartment; £390 per week for a one-bedroom apartment; £550 per week for a two-bedroom apartment; and £700 per week for a three-bedroom apartment.
We have been furnishing apartments at the Dollar Bay, Lincoln Plaza, Canary Gateway and Dockside developments, including a two-week turnaround of 20 studios for L&Q in Coolidge Tower. We are currently developing interior concepts with UK developer Berkeley on South Quay Plaza, one of the tallest towers in Europe (completing 2021).
Kidbrooke
Located in the Royal Borough of Greenwich, Zone 3, the area was most commonly known for its military links and an abundance of 1930s housing. That is until urban planning and architecture group Lifshutz Davidson Sandilands designed a large-scale development of 4,200 homes known as Kidbrooke Village on former social housing land transforming the area into a new destination for tenants looking for more affordable rentals and a quick commute into the City. We’ve had the pleasure of furnishing and dressing two to three bedroom houses for developer Berkeley. It has been a great experience for us to be involved in such an inspirational project. Average rentals for a one-bedroom apartment £330-£350 per week with respectable yields for investors who bought off plan of around 5-6%.
Woodberry Down
Regeneration has transformed this run-down Zone 3 estate into a series of luxury apartments for professionals in what has also become a trendy area of Hackney. With many of the properties selling for upwards of £500,000 apartments for rent are in high demand and landlords can expect an average rent of £300 per week for a studio apartment, rising to £650 per week for a three-bedroom apartment. As the approved furnishing company for Berkeley, we’ve furnished and dressed apartments prior to completion allowing the flats to be tenanted the very next day.
Wapping
An urban revamp has done much for this Zone 3, former dockyard and newspaper print works. The high-end apartments are in a prime location, close to the City and Canary Wharf making them attractive to young professionals in banking and finance. Landlords can expect rental values of £400 per week for a studio apartment; £475 per week for a one-bedroom apartment; £620 per week for a two-bedroom apartment; and £895 per week for a three-bedroom apartment. We are providing bespoke furnishing packages in the developments here, namely London Dock which recently completed on the former News International site. Rents here are higher than Wapping averages but the development amenities more than make up for this and tenants love the convenience and standard of appointment that developer St George offers here.
Colindale
With 300 large units furnished by In-Style Direct in these up and coming NW9 location and a further 1,000 new homes to be rolled out over the next five years, this Zone 4 location is exploding with potential and is certainly one to watch. We have been providing furnishing package services at Beaufort Park, the pioneer development by St George that has literally transformed Colindale and put it firmly on the map. One apartment we furnished for the developer sold within a week including the furniture!
With Northern line tube station on its doorstep, tenants enjoy an easy commute to the centre of London in less than 25 minutes. The wider area is just 15 minutes by car from Brent Cross shopping Centre and Hampstead Heath making this a popular choice for landlords who want rental income. Typical rents for a one bedroom apartment start at £320 per week with many landlords seeing yields from 4-6.5%.
Ealing
Ealing’s location and its direct transportation into Heathrow and Paddington means it offers professionals village-style living within easy reach of the centre of London. The Dickens Yard property development is a great example. Rent with Crossrail planned for this year, the demand is so great that we have furnished and dressed 100 apartments here, some with a mere two-week turnaround.
Typical rents are £230 per week for a studio apartment; £370 per week for a one-bedroom apartment; £550 per week for a two-bedroom apartment; and £800 per week for a three-bed apartment.
Kew
Boutiques and cafes nestle in this stunning location, alongside its world-famous gardens. Within easy reach of the capital, high property prices have meant few have had the opportunity to live here, until the regeneration of nearby Brentford. We have been involved in providing furnishing packages for St James at the Heritage Walk development where landlords should expect around £230 per week for a studio apartment; £355 per week for a one-bedroom apartment; £475 per week for a two-bedroom apartment; and £650 per week for a three-bedroom apartment.
Kent
Welcome to leafy suburbia on the outskirts of London. Within a commutable distance, the attractive countryside and competitive pricing has made Gillingham in Kent appealing to home owners as well as property investors. Landlords here can expect rents of £120 per week for a studio apartment; £180 per week for a one-bedroom apartment; £250 per week for a two-bedroom apartment; and £300 per week for a three-bedroom apartment. Berkeley has asked us to provide tailored packages for its new development Victory Pier, Gillingham this year.
Terri Donnelly-Sales Team Leader at Berkeley said “Instyle Direct have created a tailored furniture collection package exclusively for Berkeley Homes at Victory Pier, to complement the rich interiors of our new apartments. When you invest money into your home you want to be able to showcase it to look its best. InStyle are able to offer Berkeley clientele a bespoke package from Investor to our first-time buyers no matter what their budget.”
If you would like more information on our furnishing packages and services for developments in upcoming areas in 2017, please get in touch.
