A Guide to Buying Investment Properties in Marylebone
If you are an investor looking for suitable rental properties to invest in London, Marylebone is an excellent choice of area that you might like to consider. One of the most sophisticated London areas that has been hugely popular with celebrities and Royals over the years, Marylebone offers a wide range of properties to choose from including converted period buildings and modern new-build apartments. It is an ideal area for renters who work in the centre of London since it has excellent transport links, is close to several awesome London attractions, and home to great restaurants, pubs and bars.
Why Invest in Marylebone Property?
If you are looking to invest in property in London, there are many reasons why Marylebone is an excellent investment opportunity. The great transport links and prime London location mean that Marylebone is a popular area with wealthy renters and properties here tend to go quickly due to the high demand to find homes close to the city centre and right in the middle of all the action. Marylebone is close to key London transport hubs including Paddington Station and Euston station. It is also just a short distance away from the vibrant Oxford Street, which offers more travel connections including buses and the underground at Oxford Street and Marble Arch Underground stations, along with a great selection of shopping experiences including flagship high street stores like Selfridges.
How Much Do Marylebone Apartments Cost?
Over the past year, properties in Marylebone have sold for an average price of £1,753,803. The majority of property sales in Marylebone are apartments, which sold over the past year for an average price of £1,522,119. Terraced properties in Marylebone sold for an average of just over £3,700,000. Overall, the average sold prices for property in Marylebone were similar to the previous year. They were down by just over 20% on the 2017 peak, where property prices in this area reached a high of over £2m. At the lower end of the scale, flats in Marylebone sold for around £600,000, while on the upper end, an apartment in Park Crescent sold for a huge £6,500,000.
How Much to Rent in Marylebone Per Week or Month?
The current average rental value for properties in Marylebone stands at £714 per week. The rental prices in this area range from £225 to £3,250 per week depending on the type of property and its location.
What is Marylebone House Prices?
Marylebone house prices currently average over £1m, making this an ideal area to invest if you are looking for a luxury rental property that is likely to attract wealthy tenants. Properties in Marylebone may also be suitable for investors with plans to renovate and sell the property on in the future, with many options for renovation and improvements to some properties that could see you making over £1m in profit. The property prices in Marylebone vary, with some apartments selling for around £600,000 with others fetching several million pounds. If you are looking at investing in property in Marylebone, apartments and flats are often the best option to consider since they are the most popular type of property to buy and rent here and tend to be significantly cheaper to invest in and rent compared to terraced houses, which sold over the past year for upwards of £3m on average.
What is There to See and Do in Marylebone?
Investors in Marylebone will want to ensure that they are buying a property that renters will be attracted to not only for the property itself but also the range of things to see and do in the area. As a central London location, Marylebone is close to many of London’s main attractions and the excellent transport links mean that it is easier than ever for residents to travel outside of the area to see different places in London.
Marylebone is known for being one of the most well-off neighbourhoods in the capital. Coupled with the excellent transport links that make it easier for residents to get to work and around the city for entertainment, it is popular with wealthy renters who live in the city or people who work in London and are based outside of the city who are looking for a rental property to live in during the week.
There are various attractions located in and close to Marylebone, including the world-famous Madame Tussauds which is home to waxworks of celebrities including historical figures, athletes, the Royal Family, famous actors, and fictional figures like the Marvel Superheroes and E.T. The Sherlock Holmes Museum is another popular attraction located on Baker Street in Marylebone, where visitors can learn more about the life of Britain’s most famous fictional detective and immerse themselves in the world of Sherlock Holmes. Architectural attractions, such as St Paul’s Cathedral, which is known as the spiritual home of Britain are just a short distance away and it’s a quick tube journey to get to areas like Westminster where you can find further key attractions like 10 Downing Street, the Houses of Parliament and Big Ben, Tower Bridge, and Buckingham Palace.
When it comes to food and drink Marylebone has some of the best restaurants in London, and getting into wider London to explore even more of the dining options in areas like Soho, Covent Garden and Camden is easy thanks to the wide range of transport options. The Barley Mow is the oldest pub in the area and has been serving a great selection of drinks and food since 1790; it’s a favourite with locals and a must-visit if you enjoy historical buildings. Marylebone is also home to the famous Chiltern Firehouse, which is built in a historic fire station and is a top spot for celebrities and has been visited by big names like Kate Moss and Orlando Bloom, serving three meals every day, and a fantastic brunch at the weekend.
If you want to invest in rental property in London, Marylebone is an ideal opportunity for finding wealthy renters who want a sophisticated home close to the action.