If you’re a home-owner, property investor or landlord, you need to pay attention at what’s happening around your property, location is really important when it comes to property. Of course, many people do that as a matter of course. Knowing what’s opening and what’s closing down is always relevant. And that includes new restaurants, bars or shops.
In some areas, an exclusive chain of restaurants is popping up. A chain that’s well-known enough to be popular, but rare enough to require a special visit. ‘The Ivy’ brand, is the latest name that can make a difference to a location. It can also add value to nearby property.
Move Over Waitrose
Until recently, Waitrose was the store that helped differentiate the best locations from the good. But, with over 300 Waitrose stores around the UK, it’s less exclusive and no longer has the same draw it used to.
The Ivy, however, does. Although the brand is 100 years old, until recently it was an exclusively London experience. Now that its slowly growing and Ivy brasseries, cafés and restaurants are popping up in the home counties and other cities, it’s less exclusive. But, it’s still hugely popular.
And that’s a combination that some estate agents are using to help sell property or even, entire areas. A Daily Telegraph article reports estate agency Knight Frank, are including ‘The Ivy’ in property descriptions.
Brands Aren’t Everything, Location is…
While certain brands can add value to a property price-tag, other details matter too. Establishments using locally sourced ingredients, talent and labour also appeal.
In particular, people under 34, are generally keen to try local restaurants, bars and shops they find when they move. It might not add as much value to a property. But, an interesting high street or centre point can attract affluent, younger workers. Having good restaurants and shops nearby means they don’t have to travel so far to eat a great meal, or buy an outfit.
Location and amenities are high on renters and buyers lists when it comes to selecting a home. That means it needs to at least feature on your list, as an investor, too.
The Ivy is be out of reach for many. But getting the right mix of useful and interesting shops, restaurants and bars, isn’t. Get that detail right and you should have an investment that delivers. Get it wrong, and it could cost you a lot.
If you are not sure on how to check the area, use a specialist to do it for you. As one of the biggest London lettings property management company, we know what we are doing and can help you to find the right investment.
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Alessio Tondo & Fabio Tarantino
Two ordinary guys who turned their passion into a business.
Rent 2 Rent specialists, London
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