The highly-anticipated Silkstream scheme is gaining significant exposure and our international sales teams report its popularity for rental investment, particularly in South East Asia where we are highly active. With completions set for 2024/25, the development is already being discovered by locals and projected rents are likely to see rental yields of 4.8-5% being achieved.
Our Beaufort Park branch in Colindale continues to be extremely busy – in fact we’ve never known such low stock levels. All new instructions are letting immediately, creating huge disappointment for those on waiting lists since July & August. With the new ‘Block-D’ not being released for a while yet and very high tenancy renewals, we continue to deal with 30+ applicants per available property and see rents staying very strong.
Since our estate agents branch is on-site at Beaufort Park, tenants and buyers always come to us first. We’ve been operating in the area for over 16 years now so people know us, trust us and some landlords have been with us since the scheme launched back in 2006. But new stock remains historically low and existing tenants are staying put as they know they will not be able to rent anything on par elsewhere.
We are continuing to see demand from Hong Kongers who have recently relocated to make a new life in the UK with the BNO visa scheme. They are largely unaffected by interest rates and many have indicated that they are renting with a view to purchase a property in the Colindale area in the near future as there is a thriving Chinese community already here.
Current rents being achieved are very good and we would certainly welcome any property instructions from landlords who might be surprised at what we can achieve for them:
Studios £1,110 to £1,300 per month
1 Beds £1,600 to £1,800 per month
2 Beds £1,900 to £2,400 per month
3 Beds £2,800 to £3,200 per month
With our new-build specialism, we are very familiar with all the buildings at Beaufort Park and Colindale Gardens and would like to talk to any anyone who has a property becoming available to let soon or in the surrounding area.
We also welcome the opportunity to discuss upcoming completions at Silkstream. We can help with furnishing solutions as well as give you up to date information about what rent you can expect to achieve.
View all posts by Benham & Reeves