Ideally, the interests of a property owner should be in perfect alignment with the needs and requirements of the concerned property’s intended, future tenants. The keyword here is “future tenants” since the investment potential of real estate depends primarily on the kind of occupants that a landlord is looking to attract.
For example, the requirements and expectations of industrial tenants would be very different from those of residential occupants. Keeping that perspective in mind, Marylebone is one of the most prospective residential neighbourhoods in West End of London. As to what makes the neighbourhood so prospective for landowners, let’s take a closer look.
Location
By default, location is always the most important aspect in determining value of real estate and Marylebone wins big there. The suburban neighbourhood is located at a uniquely prime location in Central London. Take a stroll southwest from Marylebone to find yourself at Hyde Park. If you take a walk towards the northern end of Marylebone, you will be facing the south gate of Regent Royal Park in minutes. As anyone familiar with London real estate will know, being bordered on multiple sides by the beautiful Royal Parks is a huge part of what makes Marylebone such a blissful place for the locals. Then again, tranquillity of the Royal Parks is not all that the locality has to offer.
Take off towards the south of Marylebone to soon arrive at an astoundingly busy commercial street with hundreds of different business outlets everywhere. If it feels as if you are looking at the busiest London Street that you have ever seen, then that’s only because you are right. Marylebone is separated from Mayfair and Soho on its south side by Oxford Street, which is not just the busiest street in London or even the United Kingdom, but in all of Europe! Oxford Street is visited by close to or even over a million people per day, which adds immensely to the financial value of all property located in Marylebone.
Guaranteed Rent
As experienced landlords may have deduced by now, the location of Marylebone alone presents a very lucrative opportunity for those that are looking to invest in here. However, the presence of UpperKey property management Marylebone turns that opportunity and potential into a veritable guarantee. As one of the biggest rental property management companies in Europe, UpperKey offers guaranteed rent agreements to landlords exclusively in highly prospective locations.
Now that they have chosen to offer property management Marylebone services with guaranteed rent agreements, that adds an extra level of assurance for investors, giving landlords one more reason to invest in Marylebone. What makes all the difference here is that if you own land or property in Marylebone, UpperKey will become your primary tenant. That means, landlords in the neighbourhood do not need to look for tenants or worry about collecting rent from their occupants. Instead, they will receive all their payments from a single source which will act simultaneously as their tenant and rental property manager.
Architecture
If you are a land developer, you may want to rethink your plans about redecorating any buildings in Marylebone. Aside from its location, the architecture of existing buildings in Marylebone is a huge part of what attracts so many people from outside the UK to live in this part of the city. It’s a welcome mishmash between houses created in Victorian style, as well as buildings with clear signs of Georgian influence in their architecture. It’s already a popular spot for European tenants who are looking for a rich, yet nostalgic neighbourhood. In fact, the international property management company UpperKey is using that very fact to leverage higher income for landlords in Marylebone for a while now.
Understanding the Problem that Marylebone Solves for Residents
When an outsider thinks about London, they are often misled into believing that it is all about the capital. Those who actually live in the place know that there is much more to Greater London than just its hyper urbanised capital. For example, Walthamstow Village is a beautiful place to live in London as it’s far removed from the urban rush. There’s also Hampstead, Dulwich Village, and several other townships and small villages that can also boast of offering the same rustic charm.
However, anyone who is thinking about moving into these parts will certainly need to adjust their lifestyles, especially if they are more used to living in a big metropolitan city. Although it’s true that the city can be a very loud and stressful place to live in at times, urban living does have its own advantages as well. Whether you need a supermarket, a Michelin Star restaurant, or urgent help during a medical emergency, it’s always available and accessible at all hours of the day if you are living in a big city.
People may complain a lot about city living, but you will seldom find someone moving to the more remote sections of Greater London before retirement. Commuting would be a nightmare for most people working the city in terms of effort, time, and monthly expenses for travelling to and from the office. Therefore, it’s almost always about making a choice between the two extreme lifestyles, each of which comes with their respective benefits and sacrifices.
Marylebone: A Beautiful Solution in Central London
There are still a few remaining places in the heart of London that offer an unexpected balance between the two extreme lifestyles. In Central London, Marylebone is one of those last slices of suburban neighbourhoods that has somehow managed to retain its small-town charms without sacrificing the modern conveniences of living in the capital.
Consider the fact that there are at least five Michelin Star restaurants in Marylebone, including Roganic, Trishna, and the Locanda Locatelli, but none of them are located too far away from a small village café. That is not the kind of unique combination that too many places in Central London can claim. Marylebone is never too far from anything that the locals might need, but they are still just far enough from the overcrowded, loud sections of Central London to maintain peaceful and stress-free living standards.
Marylebone residents do not need to wait for retirement to enjoy a stress-free life away from the humdrum, and that’s what makes the locality so wonderfully unique. Aside from its location in Central London itself, there are several, dedicated tube (underground) stations located close by to facilitate cost-effective commuting to and from almost anywhere one may need to.
As previously mentioned, the location of Marylebone is the main reason why this locality is such a valuable place to invest in real estate, but that value does not originate from its proximity to urban conveniences alone. Rather, it’s also a place that people really want to live in, settle down, and raise families. As a landlord, that speaks volumes for the location’s tremendous financial potential for rental real estate.
Good Schools
Central London does not lack good schools in any part, but there are quite a few excellent institutions in Marylebone itself. Having schools nearby is always an advantage when you are trying to attract families for long term occupancy. First, there is the famous Wetherby School made famous for their history with royal pupils including Prince William and Prince Harry. Then there’s also St James', St Marylebone C of E, and of course, the new Marylebone Boys' School to consider.
Commercial Potentials: Shops to Pubs
So far, we have highlighted the parts about Marylebone that make it such a wonderful place to live, which in turn also makes the place a great investment opportunity for landlords. However, there is also the commercial advantage of owning land in and nearby Marylebone to consider. While the place is neither meant to be, nor will it be suited for industrial occupants anytime soon, there is still massive opportunity for small businesses to flourish.
After all, the neighbourhood is situated right on top of Oxford Street, which is officially the busiest commercial street in Europe. Not that there isn’t enough real estate to consider right inside Marylebone of course, because the locals and the tourists love shopping at the Marylebone High Street, while getting high at the local pubs and clubs on Dorset Street, Marylebone Lane, and Baker Street to name a few.
By now, readers should have a very clear idea about the prime reasons why Marylebone is such a prospective area for landlords, but you can always find out more. Do note that as is the nature of valuable real estate anywhere and especially in London, prices will only go up from this point on. If you are looking at the neighbourhood form a landlord’s perspective, you may want to start investing as soon as you are ready.
The local authorities will not allow development beyond a certain point to preserve the local charm and tranquillity. It means that while buying real estate in Marylebone is a sound investment for just about anyone, the properties themselves might be gone if you wait too long. While that’s not as much of a concern for renters right now, that should be something to consider for landlords.