I have been telling clients for many years now that, although not the cheapest option, buying quality in the first place will always pay dividends in the long run. Its the same principle with refurbishment costs, do the job properly and to a high specification and your rental yield will almost certainly be higher.
As an example of what is being built in the Docklands, have a read of this, taken from The Wharf newspaper on 07.11.2015:|
Ballymore Group’s Columbia West apartments, at New Providence Wharf in Blackwell, come complete with access to a 15,000 sq ft athletic and hydrocentre, including such facilities as a boxing ring, spinning bikes, and a championship-length lap pool. Located just a stone’s throw away from Canary Wharf, the development also sits on the Cycle Highway, which passes through Poplar and Limehouse and onto the City, making it the perfect location for workers wishing to keep up their fitness regimes. The apartments themselves include such features as built-in coffee machines, and comfort cooling, as well as a 24-hour concierge service.
Wow! Built in coffee machines and on site boxing ring! As some older properties in the Docklands are now approaching their second decade, it is really important for landlords to understand what they are up against. So, remember, don't scrimp on that refurbishment. Tenants have high expectations, let me and my team help you meet them.