Property News

Thousands of Olympics Lets Lie Empty

Em Morley - July 26, 2012
Thousands of Olympics Lets Lie Empty

Thousands of Olympics Lets Lie Empty

Hungry landlords who removed good, reliable tenants to attempt to receive inflated rents from Olympics tourists have been left empty-handed with long void periods.

Letting agents have claimed that just a small amount of properties offered to let for the Olympics have been rented. In Stratford, there are still around 300 Olympics homes available on a short let basis, from £4,000 to £6,500 a week. The average rate for this area is £1,700 a month.1

One agent says that trying to claim high rents in the Olympics season has been “a total waste of time.” The agent also states that his agency in Chelsea, Champions, has only had one Olympic property let.1

In Stratford, letting agents Keatons have reported that from 400 landlords providing Olympic properties, only two dozen of them were successful.

Foxtons still have around 2,000 unlet properties listed on their website for summer 2012. The most costly is a six-bedroom boathouse at Canary Wharf, which will cost £60,000 a week. Their cheapest is a two-bedroom flat in Islington at £750 per week.1