Every landlord requires a quick let for their rental property so when a stylish Manhattan-one bedroom apartment at the eagerly anticipated London Dock development in Wapping was let within a day of it being listed on the rental market, we thought we would share how this was achieved.
The landlord was determined to attract a corporate tenant as they tend to be more reliable, stay longer and pay on time. Positioned minutes away from the world-famous Tower Bridge with exceptional on-site lifestyle amenities, London Dock is particularly attractive to City professionals looking for a short commute into the financial district each day but with so many apartments rolling out at the same time, it was important to show the one-bed off at its very best.
We often get asked to provide furnishing packages for rental properties and on this occasion, we instructed Instyle Direct as they can provide high quality furnishings quickly and we have zero returns with them. Our landlord opted for their Diamond Furnishing Package, a collection of inspired high quality furnishings, accessories, artworks and their own brand of soft furnishings. Interestingly, it was not their cheapest package but the landlord understood that to attract a high calibre tenant, the furnishings had to match a more sophisticated lifestyle.
As illustrated below, the transformation from an empty space into a cosy, luxurious home is what made this apartment let at first viewing.
The apartment, which is situated in Ariel House, the first building to be launched at London Dock, was furnished within a day and caught the attention of a City based investment banker who put in an offer at an appreciated rental to secure it . The tenant was specifically attracted to the interior presentation of the apartment and the on-site facilities at London Dock which include a private residents’ club lounge, 20 metre swimming pool, virtual golf course and even a squash court.
Apartments like the one we’ve illustrated are particularly popular with corporate and professional tenants looking for a furnished property which they can see themselves living in. In our experience, presenting your rental property well not only helps it let quicker at an optimum rental, it also attracts good quality tenants that generally stay longer which means minimal void periods. With 95% of our corporate applicants insisting on a furnished and professionally managed home we always advise our clients not to compromise on property presentation. While it can often prove to be challenging to transform a smaller, more compact living space into a stylish and versatile rental property, there are lots of ways you can maximise space in your rental property to achieve the right look.
For those looking to invest in the regeneration hub of Wapping, it’s worth noting that it recently topped a list of London property hotspots of the decade with the biggest 10-year house price growth across the Capital. Director of Lettings Marc von Grundherr gives us some insight into why this emerging location is so important.
Investors at London Dock can expect rental yields of 2-3%, which is above average for a Zone 1 location. Our commitment to the potential of Wapping was supported by us opening an on-site lettings branch at the development in 2015 with a team of ARLA Propertymark qualified professionals who are best placed to serve demand for this outstanding property development.
If you have a property to let in Wapping or anywhere else in London and would like a free valuation of the rent you could achieve, do get in touch. The team can also help with further advice and quotes on providing furnishings.
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