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London is witnessing the emergence of a specifically designed and managed 'institutional grade' residential asset class, loosely referred to as the new Private Rented Sector (PRS), or as Build-to-Rent. Over the last 18 months to two years, PRS has turned London's residential property market on its head.
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The concept of private landlords renting their apartments and houses to private tenants has been the accepted norm for generations; however, with major participation from some of London’s leading property players, the growth of this sector has taken on a whole new dimension. House builders and developers, recognising the urgent need for quality, affordable and well located rental stock are building and developing PRS stock to meet an increasing demand.
So what is the typical demographic of a PRS tenant and what are they expecting from their new home? It is difficult to qualify what makes a typical PRS tenant, however, it may be a young professional saving for a deposit to buy their own property or someone who recognises they may never be able to afford to buy in the city they live in. The list is endless and as the phenomena progresses the tenant‘s criteria will become even more discerning.
Therefore, to make their units more attractive to the tenant while still looking to optimise the rental income, PRS operatives need to offer excellent facilities in their developments. These typically include a presentable and efficient concierge service, a fully equipped and functioning gym, residents lounges, libraries, roof gardens and even cinema rooms are all becoming increasingly popular.
The final factor that may influence a tenant’s decision is the furniture provided with the unit. Most providers we talk to at BoxNine7 recognise they need to provide robust, quality and stylish furnishings.
Words by Adrian Bagnall, Head of PRS.
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With the strong appetite for buying London property from Asia over recent years, BoxNine7 are constantly flitting between Hong Kong & Singapore to meet our clients and assist at development launches. This story follows our intrepid explorer Charlie Olpin who visited Asia for the first time.
"I touched down in Hong Kong and was completely blown away by the city. The clusters of soaring skyscrapers, the inky blackness of the harbour water and the teeming mass of people everywhere was exciting and not what I was expecting at all.
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My trip, half way round the world, was organised to accompany a leading international residential agency in the sale of a luxury development of apartments with stunning 360-degree views over central London. BoxNine7 had been involved early on in the development working with the agents, developers and the marketing agency to create the perfect turn key furnishing schemes that were included in the sale of each apartment.
I was there to help investor purchasers choose furniture that would compliment the building and to encourage optimum rents from potential tenants. We were exhibiting in The Landmark Hotel in Central, a favourite for property exhibitions and spent the day talking to potential investors looking to add to their existing portfolios or purchasers buying for the first time in the buoyant London residential market. After three busy days, the exhibition in Hong Kong finished and I spent the following Monday and Tuesday meeting various clients and agents in the city to discuss how BoxNine7 might assist them.
Then onto Singapore, where we continued exhibiting at the St Regis Hotel. I spent the next four days marketing our sales packs, attending meetings and cumulating in attending a cocktail party hosted by the agency where I was introduced to many their investor clients and where I was able to tell them more about who BoxNine7 are.
The trip for me was a fascinating, exciting experience and it was valuable to be able to talk face to face with our clients.
With demand increasing in The Middle East and China I'm looking forward to experiencing more expeditions around the world." |
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Here at BoxNine7 we pride ourselves on delivering affordable turn-key furnishing solutions to the private rented sector, giving careful consideration to these tailored packages. By exploring the local area, we highlight the target demographic and development scheme to ensure that our design-led interiors are functional, stylish, appropriate and achieve optimum return on our client's investment. Take a look for yourself...
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In this MailBOX we have dedicated our attention to a new development in one of the most desired new, prime postcodes in London:
The Lexicon by Mount Anvil
After delivering some fabulous turn-key furnishing solutions, we are pleased to present to you a fun and insightful lifestyle guide, revealing some of the cool hidden spots in the area:
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CURIOUS DUKE GALLERY
0.6 miles from The Lexicon
If you would like to expand your knowledge and immerse yourself in the world of urban and contemporary art, here is the place to do so as the Curious Duke is one of London's leading specialist art spaces for emerging artists, founded by Eleni Duke. Originally a pop up, it is now a fully fledged gallery.
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FIFTEEN
0.4 miles from The Lexicon
Not only does Fifteen offer a relaxed and rustic aura, the food is elegant and wholesome, delivering nostalgic flavours accompanied by a selection of British heritage wine, cocktails and craft beers. Jamie Oliver's restaurant is famed for its non-profit status and talented, upcoming chefs who use seasonal
British ingredients designed for sharing, great for an evening with friends! The inspiring story behind Fifteen shines through in the ethos and ethic of the staff, making it an enjoyable place to dine.
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SADLERS WELLS THEATRE
0.5 miles from The Lexicon
If you are looking for something a little different, why not make a visit to the Sadlers Wells theatre? A world leader in international and British contemporary dance, it offers something for everyone from tango and hip hop to Bollywood and jazz. Step away from the bustling bars and eateries to the theatre to understand more about dance, or simply for an evening of enjoyment.
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NIGHTJAR
0.5 miles from The Lexicon
Definitely one for those who are looking for a destination venue. It is an eclectic, vintage, prohibition-filled bar that offers live music and a wild night in full swing. What goes better with live jazz music than a good cocktail in hand. The bartenders ooze creativity which is also shown in the recipes behind the bar, seeing rare ingredients from sea plankton and bee pollen to squid ink and buffalo worms.
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THE COMMISSARY
0.6 miles from The Lexicon
... and our tour wouldn’t be complete without mentioning 'The Commissary'. For those of you who prefer open spaces and a relaxed ambience, this bar and kitchen is the idyllic day to night hang out, and can be found tucked between Angel and Old Street, situated on the Regent's Canal. Not only great for a light bite, but for exhibitions and live music in the evening. Be sure to stop by!
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Here at BOXNINE7 we provide innovative furnishing solutions to institutional investors in the private rented sector as well as major London development sales to the international market which are high in quality and investment driven.
Our strength is offering a hassle free service which caters for all your furnishing requirements. We pride ourselves on our level of professionalism, quality of product and market knowledge. Furniture is chosen with an emphasis on quality craftsmanship and delivered and installed with our very own hands.
We provide:
Furniture Packages
Homeware Hampers
Window Treatments
View Units
Delivery & Installation
For a complimentary, obligation free quotation for our turn key furniture design services, call us on 020 323 97970 or email hello@boxnine7.com.
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... and if we can't beat an alternative quote for a comparable product we PROMISE to match the alternative quote!
For further contact details:
BOXNINE7
Audley House, 12 - 12a Margaret St
London, W1W 8RH
W: BoxNine7.com
For press and news enquires please contact:
E: thepressdesk@boxnine7.com
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