The age of ultra-convenience
In a city where everyone is time poor, James Thornett, Head of Agency, explores what developers are doing to make the lives of Londoners as convenient as possible.
With an estimated one million households, the size of London’s private rented sector has more than doubled since the turn of the century. And this growth is forecast to continue with an additional 260,000 private rented households forecast across the city by 2021. The growth of London’s rental gives investors and renters an ever-increasing variety of choice when it comes to finding their perfect London property.
With regeneration being such a prominent feature across London, new builds are accounting for an increasing proportion of rental properties, and in an age of ultra-convenience, where everyone is time poor, amenities and services that can be exclusively offered to residents on-site are changing the landscape of the rental market.
The convenience of a concierge service, residents’ gym, pool, lounge and even a private cinema room, offer a tenant more than just a building, but an entire lifestyle from the convenience of their own home.
Developments offering such amenities and services are usually extremely popular with investors as well as tenants, typically leading to lower void periods and longer tenancies. The benefits for tenants also extend beyond convenience, with fewer monthly bills, increased security and of course, having all you need under one roof.
In an age where we are time poor and looking for a more convenient lifestyle, the new build rental market is more attractive than ever. With regeneration hitting every corner of the capital, London really does have something for everyone.