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property

Spotlight on lettings

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Emily Englander, head of lettings at Knight Frank’s Marylebone office, considers the rise in the rental sector

Knight Frank welcomes Ali Mathews to its Marylebone sales team

The number of tenancies agreed by Knight Frank has overtaken last year’s figures despite continued uncertainty in the financial services sector. The seasonal dip in November, intensified by uncertainty surrounding the US election result, followed two successive record months for us in August and September, with the number of deals 23.2 per cent higher than in 2015. We are seeing the most activity on properties on the market between £400 -£1,500 per week and above £3,500 per week. Post Brexit and in the last quarter of this year, the number of new properties coming onto the lettings market rose 43.8 per cent as many vendors have decided to remove their properties from the sales market and rent them until there is more clarity over the impact of Brexit. Higher stock levels have inevitably put downwards pressure on rental values, which has boosted affordability for tenants, whose negotiation position has strengthened over the course of this year. Our advice to landlords with a property currently on the market is to ensure it is presenting at its best both online and on viewings in order to compete with your neighbour and similarly priced properties in neighbouring boroughs. We have seen an increased demand by renters for furnished properties, and landlords choosing to buy furniture or utilise the services of rental furniture companies to dress their apartments are seeing the shortest void periods, if any. A fast response to an offer is also crucial. For information about the latest trends driving property values in your postcode, please visit Knight Frank’s new website mypropertygenius.co.uk

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li Mathews has recently joined Knight Frank’s Marylebone office as a sales negotiator. “I have always admired the area of Marylebone, and when the opportunity arose to work here with Knight Frank, I jumped,” she comments. “Having worked in the property industry for more than three years across London, I am taken aback by the culture and village feel on offer here. Set amid the beautiful garden squares, quaint coffee shops and fashionable boutiques on the cobbled high street, the houses are just as impressive as the lifestyle. Whether it’s a magnificent red brick building or a new development, Marylebone has something for everyone. I could not be happier and look forward to learning more about what such an exciting area has to offer.”

Rare Marylebone development site up for £7.5m A rebuild scheme with consent for six lateral properties comes onto the market

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n enticing development opportunity has come up for sale in Marylebone, arguably the hottest part of Prime Central London right now. The terrace of properties on Homer Row, which is about a five minute walk from the High Street and Chiltern Firehouse, has consent for a knock-down and rebuild to deliver six lateral residential apartments, plus a commercial (D2) space on the lower ground floor. Priced at £7.5m, the 196 sq m site is set over three floors and a partial basement and has been employed up until now as a Pilates centre and flats. The planning provides for outside space and all but one of the apartments will have a balcony, while the lower ground floor unit will benefit from a courtyard garden. Agents Rokstone thinks that the lower ground floor could make a great residents’ gym. primeresi.com

s l u x u ry l o n d o n . c o. u k s

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Profile for Runwild Media Group

Marylebone & Fitzrovia magazine January 2017  

Welcome to the latest edition of Marylebone & Fitzrovia magazine, celebrating the dynamism of the area and bringing you the latest features,...

Marylebone & Fitzrovia magazine January 2017  

Welcome to the latest edition of Marylebone & Fitzrovia magazine, celebrating the dynamism of the area and bringing you the latest features,...

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