Beaufort Park Investors Celebrate As Demand Soars For Rental Apartments
Beaufort Park in Hendon is a real success story for investors - lettings are booming and landlords are enjoying yields of 5.5% - 8%.
- (1888PressRelease) December 05, 2011 - Beaufort Park in Hendon is a real success story for investors - lettings are booming and landlords are enjoying yields of 5.5% - 8%. The latest block to be launched by developer St George, Envoy House, looks set to be just as successful. Benham and Reeves Residential Lettings, the developer's appointed letting agent, is reporting that it already has a list of 20 fully referenced tenants waiting to move into new apartments when they roll out from the end of August.
"This level of interest is not surprising," reports Marc von Grundherr, Lettings Director of Benham and Reeves Residential Lettings, which is a leading, independent London letting agency with its own on-site lettings office at Beaufort Park. "The rentals market at Beaufort Park has got stronger month on month since the launch as the development becomes more well known. We have let nearly 500 apartments to date and demand is at an all time high - we are constantly looking for more properties to meet this demand."
"Our website, http://www.brlets.co.uk, is attracting 9,500 first time visitors a month and during the second quarter of 2011, Beaufort Park brought in by far the most enquiries for applicants with budgets of £180-£400 per week. In fact, we let five apartments at Envoy House before the properties were even ready - tenants simply fell in love with the showflat."
Demand for rental properties throughout London continues to outstrip supply as many young professionals are renting as they cannot obtain a mortgage.
"That is why developments like Beaufort Park are so popular with professionals who need to rent," explains Marc. "Apartments are spacious, the finish is first class and the development has excellent transport links - it is within walking distance of Colindale tube station for easy access to the City (24 minutes to Kings Cross) and Mill Hill Broadway is also nearby. Tenants also love the lifestyle - with its landscaped parkland, Mediterranean-style boulevard full of restaurants and shops and even its own health club, Beaufort Park really does feel like an exclusive and vibrant city quarter in its own right."
"In tough economic times affordability is also an issue," Marc continues. "Manhattan studios and one bed apartments are achieving rents of £230 and £250 per week respectively while three bed apartments are fetching £400-£450 per week. This makes them excellent value for tenants, who tend to be young professionals - some of our most recent tenancies have been taken up by a lawyer, a doctor, a solicitor and a police officer."
"Many of our Beaufort Park investors are from overseas, particularly the Far East. The exchange rate is an important advantage for them, making properties 20% cheaper than in 2006, while the strong rental demand both from overseas and domestic tenants is another."
"We find that for our overseas clients in particular, using a London lettings agent that offers a complete lettings service under one roof, is a huge advantage. We cover everything, from lettings and property management to furnishing, all from our on-site office at Beaufort Park (we also have eight other lettings agency offices throughout London's prime residential areas). And because we have a network of overseas offices, in Singapore, Hong Kong, Dubai and India, clients can always speak to staff in their own time zone, when it is convenient for them."
"Many clients report that our furnishings service is a real bonus too. It is an invaluable and competitively priced way to make sure a property creates the 'look' that is going to appeal to professional tenants, helping to make an apartment stand out, especially when a number of properties come on stream at the same time."
To find out more about lettings and property management from Benham and Reeves Residential Lettings, which handles residential lettings throughout London, go to http://www.brlets.co.uk.
Press enquiries
Tracie Lack
Tel: 02074336675
brmarketing ( @ ) brlets dot co dot uk
Established in 1956 in Hampstead, London, and now with nine 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 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.
Media Contact Details
Name: Tracie Lack
Company Name: BR Lets
Telephone Number: 02074336675
Email: brmarketing ( @ ) brlets dot co.uk
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