Wapping was one of the very first locations in London to become the focus of intense regeneration. In the 80s developers began buying old warehouses and converting them into homes, creating riverside lofts with fantastic views. The work helped to retain the character of many of the properties whilst also putting them to new use. As a result the area became very popular and prices rose dramatically.
The popularity of Wapping remains because the area is so stable. Whilst many other parts of London are changing due to ongoing regeneration, this part of Tower Hamlets is very settled because much of the redevelopment and improvements are long since completed. Some work is still ongoing but it is not greatly changing the map of the area. This means fewer disruptions, making the location a very popular one for people who work in nearby Canary Wharf and the City.
There is a potential downside to the area. Although the location is ideal, properties are full of character, and the views are great, there is a lack of family homes in the area. Much of the development was on creating apartments, flats, and lofts, maximising the number of properties that could fit in the warehouses and new developments. As a result it can be challenging and expensive to find family homes.
The apartments, flats and lofts can make very good investment properties, particularly with demand for rentals so high. Professionals are attracted to the area and many of them are looking for longer tenancies. As a result landlords can find themselves with a good stable income for that period.
At Finefair we offer an array of services for landlords throughout Tower Hamlets, including in Wapping. We can arrange to manage properties, collect rents, create rental agreements, and even arrange maintenance. We work to keep each home in the best condition and also build great relationships with tenants so they have a fantastic experience.
One service we are proud to provide is block management. We regularly work with landlords who own a portfolio of properties, including several in a single development. By managing them in a block we can provide great savings and take on the challenge of such a sizeable management task.
If you would like to learn more about why we excel at block management in Tower Hamlets, particularly in Wapping, please get in touch.