insideKENT Magazine Issue 24 - March 2014 | Page 151
PROPERTY
Residential and Commercial Property Outlook for 2014
BY DR. JAK KYPRI (DIRECTOR OF HARPERS & CO)
With interest rates still at
record lows and lenders
out in force, residential
and commercial property
buyers and investors are
back out in force
pounding the streets
looking for new homes,
alternative investment
sources and new
streams of income and
redevelopment
opportunities.
There is, however, competition for a limited number of quality assets,
as an increasing number of investors seek to expand, broaden and diversify
their portfolios. Open days and sale by tender are fast becoming de
rigueur amongst busy agents and excitable first time buyers.
With residential demand back to pre-recession levels, demand is
soaring and buyers and vendors are engaged in a push-pull dynamic to
secure the best respective deal. In contrast, average commercial property
capital values remain stubbornly still below the previous peak record of
2007, investors are back out scouring the streets and once again looking
at secondary and once less appealing units and sites.
South East London and Kent in particular is in demand as Central
London and prime sites have been ferociously out priced by foreign
investment. In particular, interest in Bromley, Chislehurst and Blackheath
remains buoyant, but an upswing in interest and demand in Bexley and the
surrounds is increasing as buyers and developers are taking advantage of
secondary positions with uppers and storage to the rear with swathes or
tracts of land that they can redevelop, build and leverage from.
Dr. Jak Kypri, Direct of Harpers & Co a Residential and Commercial
Estate Agent (based in Bexley Village High Street), stresses that “demand
is exceptionally strong from freehold investors looking for sites and projects.
In fact, we are experiencing considerable demand and a bulging client base
of registered buyers who are determined to secure a variety of freeholds
& commercial properties with potential.
In particular Public Houses, large retail ground floor units with stagnant
uppers seem to top most investors requirements and Harpers & Co, with
a local expertise in the area, is well placed in facilitating with these acquisitions
and or advice”.
Going forward into 2014, Dr. Kypri remains cautiously optimistic that
the savvy and prudent will benefit from purchasing in areas and properties
which are benefiting from structural change (a new rail line, supermarket,
major redevelopment etc). With a general election looming and the near
certainty that interest rates will increase (albeit in incremental point changes)
investors still need some protection, good advice and a pipeline of assets
available for them to invest in.
FEATURED PROPERTY
Immaculate Detached Double fronted Villa
in heart of Bexley Village
GUIDE £780,000-00 - £810,000-00
Estate Agents Harpers & Co are proud to offer
this stunning and immaculate double fronted villa
built in 1867 situated in Hartford Road, one of
the most sought after locations in Bexley, and
within the desired conservation area.
This period and important property is filled
with understated elegance and charm and is a
credit to the current owners who have maintained
it to a high standard. The property is filled with
all the period features one would expect from an
prominent house such as cast iron fireplaces,
original coving, attractive ceiling coving, picture
rails, and a stunning hallway and oak panelled
landing.
The property comprises large drive, two
reception rooms, large lounge, four double
bedrooms, three bathrooms, large kitchen and
breakfast room, wine cellar, approx 100ft garden
mainly laid to lawn, large pine summerhouse with
pine sauna room, various sheds and gazebos,
mature fruit trees and shrubs.
The property is fully gas central heated with
UPVC windows throughout and attractive
plantation-style shutters in most of the rooms.
This will undoubtedly make an excellent
family home for those wanting a good commute
and for those to take advantage of the award
winning schools within immediate proximity.
Superbly located within a short walk to the
beautiful Bexley Village and all its restaurants and
amenities this property is also within close
proximity to Old Bexley primary school, BETHS
151
and Townley Road grammar schools. There is
easy access to Dartford and Blackwall tunnels
via A2 and to London via Bexley rail Station (10
minutes walk away) and Ebbsfleet international
– a 20-minute drive away.
Viewings highly recommended and by
appointment only through Harpers & Co
Harpers & Co
Harpers House
8 Bexley High Street
Bexley
DA5 1AD
01322 524425
[email protected]
www.harpersandco.com