Outdoor spaces are in such high demand in London that properties with any form of outdoor space can command much higher values. New research from Marsh & Parsons finds that even having a small amount of space outdoors, such as a balcony or a roof terrace, can add as much as 12% to a property. In prime areas like Chelsea, this number can rise to an amazing 25%.

In most of the UK, access to a communal garden would not add too much value to a property because there are limitations on what residents can do with it. In London it is different. Properties with access to a shared garden can see their values increase by between 11% and 20%. Outdoor space is a very sought after commodity in the capital and commands great value as a result.

To put the value of outdoor spaces into figures, it is expected that every square foot of outdoor space in London is worth around £897 to a property. Again, in prime areas this can rise substantially. In South Kensington the spaces can command an astonishing £1,925 per square foot.

Estimates suggest that only around a third of homes in London come with some form of outdoor space. This is a reflection of the number of flats and apartments and also shows the attitude people have towards spaces. Large gardens are uncommon because these spaces can be used to build additional properties or extend existing ones to provide more floor space.

Estate agents claim that properties in the capital with outdoor space typically attract more interest from buyers than those without any. The higher amount of interest almost always results in faster sales too.

If you’re thinking of investing in a property in London and want to stand the best chance of making a great return you need to look beyond the building itself. Every piece of space outside the property will be worth something, whether it is a small balcony, a roof terrace or a sizeable garden. Garages are also very valuable with one selling in April 2014 for a record £550,000. We specialise in all aspects of property investment and management, including guaranteed rent in Kingston Upon Thames, and can help you to find properties which will optimise your profits. Just give us a call to find out more about what we can offer you as an investor.