Berkeley’s new Silkstream Hendon excites interest amongst London’s tech community

Landlords hoping to attract high-earning professional tenants are finding plenty to get excited about in the various new property developments being launched and of course, St George continues to lead the way here. Whole new communities are being established in areas that had previously only experienced stagnation or decline, while new phases are revitalising already successful schemes. From greater London developments like The Green Quarter and Grand Union, to Beaufort Park and Silkstream Hendon, St George continues to provide great examples of superior build quality, state-of-the-art facilities and maximised views that match the requirements of today’s savvy renters.

There has been a substantial amount of activity at the new Silkstream development in the months leading up to Spring. A steady increase of tenant registrations has ensured the success of the first phase in Bower House and the demographic of these pioneer renters bodes well for the future. Made up of young professionals, corporate placements and international relocations, they are drawn by a desire to source modern, well-connected accommodation in an area that is both amenities-rich and on the rise. This high demand has enabled landlords to achieve premium rents with one and two bedroom apartments being particularly popular. Rents in the local area have gone up since October of last year so yields of 4.9% and 5.8% are not uncommon now for well presented, furnished properties.

Young families – attracted by larger living spaces are also making enquiries. They may be focusing on three-bedroom apartments but will still be facing competition from sharers whose jobs might require them to work remotely part of the week. Currently, demand is highest for one and two bedroom apartments and we are achieving rents of up to £1,900 and £2,350 per month.

On-Site Facilities continue to be a big selling point, particularly the ground floor Sainsbury’s, which is a fully-fledged supermarket, rather than the cut-down high-street variety. Other amenities, include a gym, concierge, co-working spaces, landscaped gardens and on-site bike storage. There has recently been a borough-wide consultation on parking policy so properties with a parking space are going to be in highest demand as other local options are limited.

The urban watercourse that lends Silkstream its name flows by the development and residents have been pleased to learn that realignment work upstream in Edgware is now underway. This will lead to a fresher, more biodiverse riverine environment and will bolster Silkstream’s already impressive eco-friendly credentials.

If you have a property completing soon at Silkstream, please get in touch with our Hendon lettings team to get an up to date market rental value for your property.