100% occupancy rate at new Build to Rent development
- 20 Nov 2019
- Company News
Rising house prices and rents in the capital has enabled property in London’s commuter belt to emerge as an ideal compromise for investors and renters alike.
The Build to Rent sector has helped to fill the gap between supply and demand, with new build developments like Experience Invest’s New Bedford House providing the much-needed, high-quality apartments for local residents and city workers in Luton.
100% occupancy rate
Highlighting the demand for contemporary rental property in Luton, New Bedford House has reached 100% occupancy level in less than six months since opening its doors to tenants.
Completed in June 2019, New Bedford House comprises 57 one and two bedroom apartments which have been rented to young professionals and city workers by management company, Opto Residential.
Delivered by the award-winning Opto Property Group, New Bedford House has been completed to the highest industry standards. Each apartment within the development has been delivered with a 10-year NHBC Warranty, providing owners with the peace of mind that their apartment will be insured if any work is required in the years to come.
Premium product, prime location
To appeal to Luton’s broad rental demographic, New Bedford House is situated in the town’s centre and just moments away from the train station, which offers a direct 22-minute train to central London.
The development’s prime location and contemporary finish has clearly been a winning combination for the town’s rental market.
Discussing the project’s early success, Jerald Solis Director of Opto Property Group said: “We have always seen Luton as an undersupplied property market in need of new build developments to suit the changing needs of the town’s rising population. New Bedford House was created to cater to the increasing demand for high-quality housing in the town and it is an excellent example of when a development’s ultimately fits the requirement of the end-user.
“We are very pleased that we have reached the 100% occupancy milestone in the development’s first year and we look forward to delivering more residential property in Luton in the years to come.”
New Bedford House is a sold out Build to Rent development. Investors seeking a buy-to-let opportunity in London’s commuter belt may wish to turn their attention to apartments for sale at Imperial Square in Luton. Simply follow the link to view the specification of the project and discover how to secure a rental return from Build to Rent property in Luton.