Over the last decade Tower Hamlets has changed more than almost any other London Borough. New build projects have taken placed in clusters throughout the area, creating tens of thousands of homes in the process. In fact in 2016 alone an additional 33,000 plus new units are expected to be built.
The Borough was chosen for such a huge number of new builds because of the prime location. It sits to the east, between the City of London and the City Airport. This is a fantastic central destination, offering good transport links throughout the capital and beyond. These factors are attractive to a great number of buyers and renters too.
Another huge draw with Tower Hamlets was the space that was available and the status of many of the buildings in the area. In a number of parts of London there are buildings with a strong architectural heritage. Many of these are protected so it puts limits in place that restrict alterations and demolitions. There are fewer of these in the Borough of Tower Hamlets so builders have fewer obstacles.
The huge number of new units in Tower Hamlets creates some fantastic opportunities for investors. The area attracts people, meaning demand can be very high for rental homes. This means that landlords can make a purchase and expect good interest from prospective tenants. New builds can offer a premium when they come to rentals because the units are ready to go, meaning the landlord has little need to invest further and tenants can enjoy a new property.
At Finefair we are committed to helping existing and prospective landlords to find the right properties in Tower Hamlets. We can advise them about which areas are the most attractive to tenants, which properties will offer the best premiums, and help with making purchases. On top of this we can provide guaranteed rent schemes where the income for a property is set for a specific rate for a period of time. This means your income is protected no matter what.
If you have any questions please feel free to contact us. Our team are knowledgeable and approachable, offering first rate services to each and every client.