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Harrods Estates reports uplift

publication date: Jul 4, 2009
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Pont Street MewsThe ‘super prime’ London lettings market is witnessing increased interest from tenants in Knightsbridge, Chelsea and Mayfair. According to Harrods Estates, there is particular demand for high-end apartments in Knightsbridge developments with leisure facilities, concierge and parking.

Karen Boland, Head of Lettings at Harrods Estates comments, “Earlier this year, the level of stock far surpassed demand, so prospective tenants were viewing twice as many properties as usual before making a decision, even then the offers were coming in at a very low level. Competition for tenants drove rents lower and pushed vacancies higher but this is changing – we are seeing an uplift in super prime lettings.

"This is because of an increase in sales activity and the Middle Eastern holidaymakers (who take short term leases on property) arriving earlier than usual, because the holy month of Ramadan will this year commence during the third week of August.”

The picture to the right is of Pont Street Mews, just behind Harrods, to let at £2,950 per week.