Summer frenzy takes hold on the terraces

Demand continues to increase from corporate tenants looking for homes in the £2000 to £3000 a week bracket, reports Mark Tunstall of Savills Knightsbridge
“After several months with little new

supply, stock levels are starting to improve, although primarily at the mid to upper price ranges. Quality homes under £1000 a week remain in short supply,” he points out.

In central London, it’s a huge bonus to be able to throw open your windows onto a balcony or terrace this time of year, especially if they overlook a leafy garden square or delightful Mary Poppins-esque chimney-top view over the City, explains Susan Cohen from Blenheim Bishop in Mayfair.

“Yet having a balcony on a busy road with traffic noise and dust rather diminishes some of the benefits,” she adds.

Some summer-friendly homes Cohen is currently renting in the capital include a three-bedroom penthouse with views over Hyde Park from a roof terrace at £3000 a week; a lateral fourth floor apartment with private roof terrace and access to Green Street Gardens for £2250 per week; and a maisonette leading onto a private patio in a listed Georgian townhouse at £950 a week.

“We also have a penthouse with a charming private roof terrace that has just come onto the market in Harley Street at £1375 a week,” adds Cohen.

However, Nicole Wilson of Henry & James in Knightsbridge expresses a need for more family homes and short- let properties to fulfil current demand.

“While we are receiving lots of queries from tenants, we have a considerable lack of quality stock,” she says. “Therefore, we encourage prospective tenants to be bold and motivated to move quickly if they find the right property.”