As investment vehicles go, London property is the ultimate asset – with prices expected to rise by almost a third in the next five years*. Outer prime areas like Fulham in particular, are attracting investors looking to get more for their money and a better choice of some of the world’s most beautiful homes and cutting edge new developments, than prime counterparts like Kensington and Chelsea.
Tim Duffill, 43, a lawyer, and his wife Dana, 40, were some of the first buyers at London Square Fulham, a classic new square of 40 townhouses – designed by award-winning developer London Square to reflect the tradition of the capital’s most coveted architectural style, yet offering first-class specification and the latest trends in contemporary London living.
Tim and Dana bought a three bedroom townhouse off-plan in October 2013. Living in Prague with their two daughters, Sasha, 7, and Millie, 6, Tim and Dana were looking to upgrade their one bedroom buy-to-let investment in Putney.
We looked at two bedroom properties in Chelsea but I was disappointed with everything that I saw, particularly the quality of kitchens and bathrooms; despite the premium you pay for a property in that area. Having lived in Europe for the last 15 years, where everything is double glazed with quality craftsmanship – I was disheartened at what you could get in comparison in London.
he property at London Square Fulham was twice the amount that I wanted to spend on a property, but it is unique – you don’t get gated new squares built in London. I only buy investment properties that I would like to live in myself and the high quality bathroom, kitchen and facilities like underground parking and concierge was enough to convince me. I was so keen to secure the house; I paid my deposit over the phone, without even coming out to see the development site.
I put the property on the rental market over Christmas and the first couple who came to see it decided to take it. A young German couple have taken a two year lease on the property and plan to turn it into their family home. She works in Bond Street and he works in the City, but they both wanted to be close to Heathrow for international travel. Apparently they looked at over 50 other rentals and had similar concerns about the build standards in London, in comparison to home. With a concierge on hand seven days a week, and a two year guarantee from London Square, I have no concerns about managing the rental from Prague.
One day I plan to move back to London, when I put my children into English schools at the age of 13 so this investment at London Square Fulham is designed to ring fence my future in the capital’s housing market. Fulham is a fantastic area to raise a family and a sound investment for now.
London Square Fulham is in a class of its own – offering a family-friendly environment in a pedestrianised square with cars out of sight in an underground car park. It mirrors the elegance and proportions of period architecture and the sense of community of traditional squares across the capital, yet offers the security, space and design associated with modern living. It is no wonder that Mr & Mrs Duffill recognise how unique the development is as an investment and its rental appeal to those looking for a family home in the capital.
*JLL, November 2014