The Corporate Castle
With the capital experiencing an influx of high-flying international professionals, there’s a development in Victoria perfectly positioned to take advantage of these overseas arrivals – from Belgian bankers to Czech consultants
While many pundits have been busy forecasting an exodus of overseas workers from the UK as the country wriggles through the Brexit process, the number of foreign-born workers operating in the capital’s law, finance and professional service sectors has remained strong.
Perhaps this group is not as worried about the government’s ambivalence on EU workers rights post-Brexit as some commentators believe. Or perhaps the businesses in these sectors tend to be able to give overseas workers the job security over here which other areas, like construction, cannot.
Either way, it raises the question of where and how to house these workers, the vast majority of whom will be well-educated, well-off – and very busy.
The perfect tenant
As one might expect, landlords have sought to capitalize on this situation. There are, of course, many advantages of having corporate tenants. Significantly, they bring the potential of higher rents along with the security of regular payments from a reliable source. Couple this with the fact that they tend to take better care of the property and furnishings and are likely to be less fussy than domestic tenants, and you can see why corporate tenants are viewed as many a landlord’s dream.
The nature of these tenancies can vary. Oversees professionals can relocate for up to two or three years, often with their families, and settle in family houses near good schools in the counties bordering London, opting for a longer commute. On the other hand, corporations looking for two to three-month lets tend to choose to place their employees in serviced apartments in the heart of the city.
A home away from home
When it comes to these city lets, eager as many landlords are to move in secondees, it takes a special kind of property to match the outstanding standards that corporate tenants require. Not only do they have to be immaculately finished, but close to transport and amenities and, ideally, fully furnished – something particularly popular with this demographic.
It is rare for the market to offer properties that fit these criteria, and rarer still to find those that exceed it. The new Victoria-based development VI Castle Lane, however, does just that. Inside, each apartment boasts exceptional craftsmanship, custom-designed furniture, and top-of-the-range appliances. VI Castle Lane’s interiors are complemented by stunning interior features including floor-to-ceiling marble in bathrooms and spectacular curved glass windows offering amazing views across London. The effect of this is an impressive but, crucially, comfortable environment that is assured to make your overseas tenant feel right at home as soon as they walk through the door.
VI Castle Lane is also enviably located with world-class transport links; the Victoria transport hub is a mere 7-minute walk away with links to underground, national rail, and coach, meaning your tenant is not only within easy reach from work but also can easily explore the rest of Britain in their downtime. It is also surrounded by bars, restaurants, and an array of shops and boutiques to cater for their every need.
On top of this, VI Castle Lane offers a dedicated 24-hour concierge service. If maintenance issues should arise, someone is always on hand to make sure requests are resolved quickly and see that your tenant’s life is as hassle-free as possible. They are also able to arrange extras like dry-cleaning, booking taxis, tickets, and restaurant reservations – a particularly helpful prospect for those who need help settling in and getting to know their new city.
See for yourself just how welcoming VI Castle Lane can be for corporate tenants and book a viewing with the team.
VI Castle Lane has just opened new one, two and three bedroom show apartments; contact Strutt & Parker (020 7318 4677) or Knight Frank (020 3826 0673) to arrange a viewing. Alternatively, view the development and register your interest at www.vicastlelane.com
Prices range from £1.2 million to £3.5 million