Covent Garden Flats: The Centre Of Culture & The Arts

When evaluating flats for rent in England, London's West End has consistently come to the forefront for the amenities and the atmosphere. Potential renters looking for flats for rent in Covent Garden will find excellent properties that are carefully tended by property owners. The rental market is strong in this neighbourhood due to the good reputation of the area.

For those who enjoy the theatre, letting flats for rent in Covent Garden is the ideal place to live. Covent Garden is a mecca for theatre and its oldest is the Royal Theatre located on Drury Lane, established in 1663. Covent Garden is the centre of theatre, as nearby are the Lyceum, Aldwych, New London, and Duchess.

Also nearby are the Strand, Coliseum and the Drury Lane theatres. Having such a wide array of theatre choices in the heart of London makes Covent Garden a dream for those who enjoy having classic theatre conveniently nearby.

Pubs and restaurants abound making for a lively nightlife in Covent Garden. Good traditional pub food and drink is widely available. Entertainment in the form of street performers is common, which is called busking. An entertainer gets a licence from the owner of where they want to play and they can play outside or inside the establishment. Buskers draw crowds of residents and tourists alike and offer lively, ever-changing music and dance. A trip around the local area to soak up these attractions is available to residents on a daily basis. Small amplifiers are used, not loud and intrusive amps, so residents have a peaceful environment.

Covent Garden flats for rent offer proximity to a myriad of choices for cinema buffs. There are many places to see the latest movies. Two IMAX cinemas show movies in the latest 2D and 3D formats. The Prince Charles Cinema offers six month old movie releases at discount prices. For those on a budget or those looking to see the newest releases, residing in the Covent Garden area offers convenience to both.

Traditional English pubs are known the world over. The traditional English pub that serves Pub Fayre food is an experience not to be missed; and Covent Garden has many options when it comes to this type of food. The accompanying atmosphere makes this experience truly a grand one. There are cafes and restaurants whose menus run the gamut of international cuisine. Covent Garden flats for rent give close proximity to these delicious amenities.

Learn more about flats for rent in Covent Garden.

Property demand in Bloomsbury set to surge due to new university

It has recently been announced that a new university, set to rival the high standards of Oxford and Cambridge, is set to open in London’s Bloomsbury, in September 2012. The New College of the Humanities will charge £18,000 per year in fees and West End specialist estate agency, LDG, anticipate that the influx of students attending the school will have an effect on the local property market.

Ben Everest, a partner at LDG, comments: “Bloomsbury is home to University College London (UCL) and so it already has a strong student population, many of whom have affluent parents who are funding their accommodation whilst they study. As this new university promises to offer ‘a new model of higher education for the humanities in the UK’, I would expect it to attract a similar breed of moneyed students, many from overseas.

“Both the sales and lettings markets in the West End are currently experiencing a shortage in supply of good quality properties, so if there is a further influx of students into the area, I expect the increased demand to result in prices increasing and it could even lead to bidding wars over the most sought after properties, such as those in Paramount Court or Bloomsbury Terrace, which are popular with overseas students.”

For available properties in Bloomsbury for sale visit http://www.ldg.co.uk/residential-sales/search-results

Link to LDG in the ES

Here is the link to LDG in the ES online this week. Laurence comments in a feature on living in and buying property in Soho, and answers questions in a Q&A about the area.

http://es.homesandproperty.co.uk/property_news/news/wordonthestreet20110427soho.html?ito=1610

LDG also feature in the property section of the ES in 'Word of Mouth', also about Soho.

New Banksy in Fitzrovia

There is a new Banksy piece in Fitzrovia: http://gowalla.com/checkins/34936623

LDG in the media

LDG is being featured in the Evening Standard Magazine on the 27th April in a feature on Soho. LDG's newsletter, The Local, is hitting the streets soon as well, with a vibrant new look!

Investing in West End property

Whilst interest rates are low and not providing any returns on savings, West End property specialists, LDG estate agency, is seeing increasing levels of demand from people who want to invest in the booming property market. Equally, the increase in both the need for rentals and the possible financial gain in lettings has increased the appeal of property investment.

A central London tourist spot like Covent Garden would provide an ideal development opportunity, due not only to being surrounded by local businesses but as it is also a highly sort after residential area. A commercial West End property, situated in a stunning old-style building in Covent Garden could experience a significant increase in value if divided and developed in to residential properties.

After obtaining planning permission, a development which allows for a two bed apartment with a courtyard in place of the commercial property can add hundreds of thousands of value. A recent report gave the average price for a one bedroom property in W1, London’s West End, came in at around £960,064 where as three years ago it was closer to £885,579. This proves that despite economic downturn and general buyers’ worries, the heart of the country’s capital remains as attractive to potential buyers as ever.
Flats for sale in Covent Garden, the West End of London have become such sort after properties for many reasons, not only that of near definite financial security but they are also some of the most well connected with regards to travel and offer some of the world’s most top-class entertainment on your doorstep.

Laurence Glynne, partner at specialist West End estate agents, LDG, comments: “A property that evolves from a well-located commercial building to a prime position residential home would be an ideal opportunity for an investor or a creative buyer to construct a unique and spacious apartment in the heart of Covent Garden. Once the building work is finalised, I would expect the property’s resale price from £850,000 to increase to somewhere in the region of £1.45m.”

Getting Olympic rental prices for your home

Friday, 8th April 2011
Grab a lucrative slice of the action by letting out your pad during the games
Donata Huggins
JUST 476 days until the Olympics, reads the countdown clock in Trafalgar Square. It heralds the flood of millions of people into the city to watch the games. Preparations are already underway: the Tube is being renovating stadiums are being built and hotels are hiking their prices. If you’re looking at all this and wondering how you might be able to get a lucrative slice of the action, you should look no further than your home. Online letting agencies are falling over themselves to get a cut of the profits that could be made on renting out your spare room, rental property or whole house if you are willing to vacate it for weeks on and around the Olympics. Unsurprising, when research from easyroommate.co.uk shows that the average Olympic landlord is looking to charge a minimum of £399 per week – more than four times the current average UK room rent. In areas close to the Olympic Park, such as Stratford, rooms are going for as much as £600 a week. And these are the current prices. Rates will increase rapidly as the date draws closer. But before you rush headlong into marketing your property, make sure you consider these five things.

1. DON’T DITCH GOOD TENANTS

While there’s a pretty penny to be made with short term lets during the Olympics, it’s not worth missing out on longer term tenants for. Not only is short-term letting a lot of administrative work, but even if it makes you three times the property’s regular income, it might not make up for the lost income before and after the games when the property is vacant. Tony Lam of letting agency LDG also warns: “With short term and holiday lets there is a lot more to consider – remember to take into account additional costs like bills, which short term landlords are responsible for. People will expect a lot for paying over the odds, so you should be prepared to be on call 24 hours a day for management and maintenance issues.”

2. SECURITY

Getting references is not the norm for short-term tenants, so you have to approach the idea with a degree of confidence in your tenants. That said, you shouldn’t be too trusting. You need to consider whether you need to clear out your belongings, and if you do, where you’re going to store them. For peace of mind, Jonathan Moore, director of Easyroommate.co.uk, advises that you should make sure that there’s a written agreement between you and the tenant.

3. INSURANCE

A big downside to letting out your property is that you have to inform your insurers that your property is being let out. This could increase your premium. If you have lots of expensive items in your home, you might want to consider getting a professional inventory done prior to the let.

4. LAW

You might have already thought through the security, insurance and financial aspects of letting out your home, but don’t forget that there might be legal implications too. Many leasehold agreements do not allow lets of under six months. Local councils also often have limits too. Westminster Council, for instance, will only allow residents to let out their homes for 90 days.

5. MARKETING

Getting the best price for your room or property depends on how well you market it. We’ve listed some of the best websites in the box below. You need good photos and a detailed description of your property to get people interested. Companies such as Accommodate London can take away this hassle for a small cut of the profits.