WITH a primary focus on property investment and its rental and management, London-based chartered surveyors Bousfield and Marshall have been providing customers in the Far East with an unique service since 1991.
Best described as total property management from acquisition to renovation, the company was formed to provide extensive knowledge of all aspects of residential and commercial properties, primarily in the central London area.
Perry Bousfield, who travels to Hong Kong at least three times a year to meet investors, recommends renovating a property as soon as it is purchased, as renovated older properties provide an excellent gross return.
'Our experience shows that we can gain better uplift in capital values and a higher rental return on older properties with character that need some cosmetic building work,' Mr Bousfield said.
'These older residential investment properties in central London are seeing a gross eight to 10 per cent return, whereas the new or fully-modernised apartments attract premium prices and consequently a reduction in the rental returns.
'In fact, 95 per cent of our investment purchases for clients are older properties which keep their value.' One example is a property Bousfield and Marshall acquired in Kensington High Street for an Asian investor last year that was in need of total renovation.