Franchising, retail, business
09/03/2015
The frenetic state of London’s rental market was highlighted today after a tiny one-bedroom flat was let in 40 minutes, with the new tenant paying £10,000 to secure it.
The Pollen Street flat, on the Soho/Mayfair border, has one bedroom, a shower room and a small living area, with the entire property measuring just 301 square feet.
It was put on the market last week by letting specialists E J Harris for £1,560 a month. Within 15 minutes of placing the details on its website, the firm had received more than 200 email and telephone inquiries.
Within half an hour, they had had five serious offers and within 40 minutes the flat was let.
The winning tenant — a female executive in the hospitality industry in the West End — handed over the deposit and six months’ rent to close the deal and moved in the same afternoon.
Elizabeth Harris, managing director of E J Harris, described the deal as “extraordinary”. She said: “If it was a swanky flat in Mayfair’s posh western district I would expect it to fly out of the door, but this is an ‘ordinary Londoner’ apartment on the eastern Soho border by Regent Street.
“The speed of this deal and the battle to secure the tenancy is the clearest indicator yet to me how buoyant and hot London’s letting market is at present. It is the ordinary nature of this that makes it so extraordinary.”
Ms Harris said the rental market was in the middle of a “perfect storm”, with properties let in record-breaking times thanks to the strong London economy, the rise in stamp duty at the higher end of the market and the fear of a mansion tax being imposed by a new government. She said this had led to a 30 per cent rise in property owners seeking to let, rather than sell.
She said: “In Mayfair, Belgravia and Marylebone, homes normally sell quickly, but this year the market has cooled and vendors have approached me in order to become landlords this year. This is what is causing a lettings frenzy in the capital at the moment.”
Fonte:http://www.standard.co.uk/news/london/hundreds-swarm-to-rent-tiny-soho-flat-for-1560-a-month-15-minutes-after-ad-was-posted-10095750.html
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