Upon hearing the news of a record breaking property sale in London, Simon Morris believes the London market is more profitable than ever for UK property investment funds.
The Value of Property Market Trends
In his time as a London-based property professional, who uses his expertise to show UK property investment funds how to maximise profit on their property portfolio, Simon Morris has learned the value of following market trends.
Trends in property are most evidenced by the sales that take place in a particular market. They provide all the information you need to know about the viability of said market. That is why it is so significant that a record breaking sale has taken place in one of London’s most lucrative property regions.
Penthouse Sells for Above £5,000 per Square Foot
According to City A.M, British Land, a London property developer, has announced this week that it has completed sale on the most expensive Mayfair home ever.
Specifically, the property developer suggested that they had sold a colossal 5,000 square foot penthouse on Mayfair’s Clarges Street. The sale was completed for a price that was “materially above” the previous record of £5,000 per square foot.
Why Was This Record Breaking Sale Made
Meanwhile the company went on to say that they have gone on to complete sale on another 18 apartments (averaging £4,750 per square foot) throughout the 10 storey property development. It will contain a total of 34 apartments when it enters completion in 2017, along with office space equalling 47,800 square foot.
Along with the amenities on offer with the sale (a wellness spa, swimming pool etc.), it’s quite clear why this record breaking sale was made. Mayfair is arguably the most prestigious post code in the UK capital. That, and its proximity to the business heart of the city was sure to attract a buyer.
Profit Handsomely from London Property
More than anything else, Simon Morris believes that this record breaking sale shows the lucrative nature of the current London market. After all, a sale such as this could not have taken place in a lagging London property sector
Yet you don’t have to invest in a Mayfair property to profit from London’s booming market. In Simon Morris’ experience, if you invest in London property carefully, UK property investment funds can profit handsomely from it, without paying Mayfair prices.