Landlord's Guide to Shoreditch
As one of the fastest growing areas in the capital, Shoreditch is a great area to let a property in. Once a cornucopia of relatively cheap London properties, Shoreditch has evolved rapidly since the 1990's and over the last 5 years, property values have increased by an average 44.93%, a whopping 5% more than the average for the rest of London! So, whether you're looking to make your first investment in Shoreditch, or you're looking to expand your portfolio, you can rest safe in the knowledge that you're in an area which renters are coming to in droves.
1 and 2 bedroomed properties (£230,000 - £600,000)
If you're hoping to invest in a smaller property then there are a number of options starting from approximately £230,000 in the busiest areas of Shoreditch. The properties are sporadically set so you have a large range of options for locations and are always guaranteed to be in close proximity to a number of fantastic amenities which renters will love. At the lower end of the scale properties are typically fully functional, but would be able to demand higher rental prices with some superficial renovations. Between £230k and £450k you will typically find studio and 1 bedroomed properties, though there are rare 2 bedroomed properties starting from £350k which could be expected to yield £2000 PCM in rent. These 2 bedroomed apartments and maisonettes again would benefit from superficial renovations and redecoration, with Shoreditch being such an attractive area, good presentation will encourage potential renters to overlook smaller spaces or lower levels of natural light. With that said, if you're interested in investing in more luxurious 1 bedroomed properties, there are some exemplary properties available in the most exclusive developments for between £600k and £800k. These more exclusive developments usually feature in house gyms, pools or other facilities that put them into a whole new category of hedonism and practicality.
2 bedroomed properties become more common at the £450,000 marker, and go from there; they are the most common property size in the area so you'll have plenty to choose from. For less than £500k you can invest in individual apartments in developments such as the beautiful Victoria Chambers, or in a variety of developments scattered across Islington and Hoxton. You can also find properties close to some of Shoreditch's most famous amenities such as the Columbia Flower Market and Brick Lane's Bagel shops. With good transport links throughout the area, Shoreditch is a great location for professionals and young families looking to make a home in an artist's oasis.
3 and 4 bedroomed properties (£600,000 - £2Million)
The first 3 bedroomed properties appear in the region of £600k, perfect for expanding families who want to grow up in this multi-cultural haven. The homes at the lower end of the spectrum typically offer 2 reasonably sized bedrooms and 1 smaller bedroom, and although some properties in this price bracket will have a second bathroom, typically there will only be one bathroom. If you're hoping to purchase a larger family home with 3 double sized bedrooms and 2 bathrooms you should expect to spend between £750k and £850k in Shoreditch, charging around £3000 PCM in rent. Larger converted warehouse properties can hope to yield £4500 PCM in rent, providing the renovation is modern and the decorations classic and minimalistic. There are selected 4 bedroomed apartments and terraced houses. If you're hoping to purchase one of these larger homes for less than £1Million then you'll need to move quickly as these properties are never on the market for long. Above the £1Million mark you find beautiful 2 and 3 bedroomed loft apartments and the first 3 bedroomed penthouses come into view at £1.35Million. You will have almost unlimited choices in locations in this price range, so wherever you're looking to be, there will be a home for you. Should you move to the £1.5M - £2M bracket you will be able to choose from a wider variety of 4 bedroomed townhouses and terraces which will provide more than enough space for everyone. In apartment complexes you can expect to find properties with floor to ceiling windows and many developments benefit from having multiple in house facilities such as gyms and concierge services which tenants can benefit from.
4 and 5 bedroomed properties (£2Million - £3Million and above)
Properties with 4 or 5 bedrooms in Shoreditch commonly start at around the £2Million mark, and from there, the sky is the limit. Homes with the highest prices and this many bedrooms are usually either purpose built luxury residential areas or converted historical buildings, such as courthouses turned into sprawling modern penthouses. At the lower end, homes are typically townhouses which are split over 3 or 4 storeys. All tastes are accommodated for in this price range, and frequently there are private balconies and garden spaces giving homeowners their own eden high above the city below. These properties typically command rents of between £6500 PCM and £10k PCM depending on the location and build type, making them a jewel in any landlord's portfolio.
Though this guide should give you a general feel for Shoreditch as an investment opportunity, we at Hunters appreciate that every landlord’s needs are different. So we personalise our service and tailor it to your individual needs, get in touch with us today and find out about the service we can offer you. Couple this with our national network and years of experience and hopefully you’ll agree that Hunters are the ideal agency to help you take this next step in your journey as a landlord.