In most cases, the term “new build” refers to a brand new, recently constructed house or flat. However, on the London property market, there are some cases where the term is used to refer to buildings which have been transformed and repurposed through regeneration work. An example of this can be seen in Bromley, where a disused engineering works building has been converted into flats. Although the building itself has been around for many years, the flats which are now in it are considered to be new builds.
It is important to understand this distinction when you are looking to make a property investment in the capital. Traditionally, many investors shy away from new builds as it’s usually many years before they reflect a real term value increase. This isn’t usually the case when the “new build” in question is a repurposed building, like the example above. Although the property is now being used for residential rather than commercial purposes, the building and its value are well established and accepted.
With the demand for property in London currently extremely high, there is a school of thought that suggests any London property is of strong investment value, but this is a rather simplistic way of viewing the situation. The greatest success comes from knowing which properties will offer what returns, and deciding whether to invest in a new build, a refurbished property or a historic property will be one of the defining factors affecting your decision.
As experts in property investments, lettings and marketing, we have the knowledge you need to succeed and reach your goals when you are searching for a property investment in Richmond Upon Thames or any other area of the capital. Whether you are looking for short or long term returns, whether you are purchasing a property with the intention of letting it or selling it on for a profit, our support will enable you to achieve your ambitions in the London property market.