Laurence Glynne, managing partner of LDG, says: “Properties with some form of outside space, be it a terrace, courtyard, balcony or access to communal gardens, are definitely on the top of most of our clients’ wish list. Although there is a high demand for such properties, only a small number are actually available; just 14% of all the properties recently sold by LDG have featured any form outside space. As such, these properties guarantee high sales value in the West End because they are so rare and generally evoke competition between prospective buyers which, in turn, drives prices up further.”
Outside space is highly desirable on the lettings market too; Javier Carrillo, LDG’s lettings manager, estimates that only 5% of rental properties in the West End have any. He comments: “Because of the demand, those properties with outside space in the West End rent very quickly and have short void periods between tenancies. Both the rental and sale value of a property with outside space is always higher than properties without it, no matter what the condition.”
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