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