First high-end BTR development launches in London

Mortgage Introducer

July 16, 2019

The first high-end build-to-rent (BTR) development (pictured) has been launched in St John’s Wood, London.

Originally reported in Evening Standard’s Homes and Property, tenants living in the five new townhouses in Blenheim Terrace will pay £5,500 a week for the unfurnished properties.

There has been increased demand from American banks and tech firms particularly looking for accomodation.

Expats and US financial firms have made up almost two thirds of all enquiries about the properties so far.

Ben Sloane, lettings director for agents Aston Chase, told the Evening Standard: “There is a sustained appetite from wealthy overseas tenants for high-quality new homes.

“Over the last 12 months we have seen a big spike in American families involved in banking and finance being relocated to London.

“As a result of all this activity, over the next two to three years we are likely to see a significant expansion in the number of luxury build-to-rent schemes.”

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