London’s West End property market is historically viewed as a safe place to invest in as house prices in the area tend to outperform the rest of the country and do not suffer from the same fluctuations. The Royal Institute of Chartered Surveyors (RICS) monthly house price survey recently reported that prices in London rose, whereas nationally, they fell.

West End property specialists, LDG estate agency, is seeing increasing levels of demand from people who want to invest in bricks and mortar, particularly whilst interest rates are low and not providing any returns on savings. The buoyant lettings market has also added to the appeal of property investment.

A newly-planned Covent Garden property would make an ideal development opportunity for potential investors. A commercial West End property, situated in a charming period building in Covent Garden could experience a significant increase in value if developed in to residential properties. If vendors have already obtained planning permission to develop a two bedroom apartment with a courtyard in place of the commercial property, then hundreds of thousands of value could be added.

After obtaining planning permission, a development which allows for a two bed apartment with a courtyard in place of the commercial property can add hundreds of thousands of value. A recent report gave the average price for a one bedroom property in W1, London’s West End, came in at around 960,064 where as three years ago it was closer to 885,579. This proves that despite economic downturn and general buyers‘ worries, the heart of the country’s capital remains as attractive to potential buyers as ever.

Given that the West End of London offers investors and buyers alike both unrivalled transport links and the chance to experience all of the capital’s quirks and entertainment within minutes of leaving their home, it’s no wonder that it is one of the most desirable locations on offer on the market.

Laurence Glynne, partner at specialist West End estate agents, LDG, comments: „A property that evolves from a well-located commercial building to a prime position residential home would be an ideal opportunity for an investor or a creative buyer to construct a unique and spacious apartment in the heart of Covent Garden. Once the building work is finalised, I would expect the property’s resale price from 850,000 to increase to somewhere in the region of 1.45m.“

Want to find out more about West End properties, then visit LDG’s site on how to choose the best Covent Garden property for your needs.