I attended the Central London Property Network Meeting last night and between Keynote Speakers and Experts Panel, there were five key trends and directions to adopt or add to your current property investment strategy.
1. Explore enhanced planning.
Find a development with planning in place and look for ways to add value by creative design. Small tweaks to layout, functionality, and creating beautiful and unique spaces with smart interior design tricks can make all the difference and add something extra to your bottom line.
2. Focus on town centres and mixed-use properties.
“Retail is dying.” More and more shops and office spaces are available for repurposing with retailers moving online, and people prefer to buy from the comfort of their houses.
We need to design the units for specific tenants. Imagine how they spend their time, where they work, how they socialise, etc.
Build communities, not ghost towns.
Consider that they’ll still need restaurants, local Boots, Coffee shops and convenience store. Maybe even a cinema or art gallery. Are some commercial spaces worth keeping?
What the rental value for the rejuvenated spaces?
3. Keep doing whats boring.
Explore, but don’t chase the shiny penny. If you built a successful BTL portfolio or HMO business and the market in our area isn’t saturated, and you are getting a decent income, keep doing what you are doing and build your war chest.
4. Make sure that you have multiple exit strategy.
Every strategy is great while it works. But we all know how little it takes to change it a headache – Section 24, Article 4, other changes in legislation and restrictions, oversaturated market, lower demand, you name it…
All of the above can take a toll, especially on commercially valued properties. When designing your guest houses or HMOs, make sure you can easily revert them into residential homes or convert them to flats to maximise your potential buyer’s or tenant’s market.
5. Look beyond the obvious.
Be creative with your developments. Don’t dismiss opportunities because the latest hot strategy or the one that everybody uses in similar circumstances doesn’t work. Think outside the box. Build a team around you that is openminded and likes a challenge.
2020 is about being different. It’s about standing out, being bold, memorable and adding a personal touch.
It is about building homes valued on the quality of their design and finish, not floor area.
Beige wall, neutral colours, grey carpets and spaces without any character are so last decade.
Create affordable luxury and aim for excellence.