During a video debate hosted by Specialist Lending Solutions, Robert Oliver, sales director at Castle Trust said those who were upgrading their existing portfolios for the sector were focusing on making properties more attractive.
He said: “As we’re seeing people become more comfortable with holidaying in the UK, one of the things that we have seen people do is they’re capitalising to invest considerably into the property itself to try and increase the value.
“The quality of accommodation is very important. Rightly or wrongly, the swing we have seen as a lender is more away from the standard B&B to self-contained apartments.”
Oliver added: “It’s really important to invest in the quality of what you’ve got, rather than the quantity. That will drive a higher demand but also make it more lettable than other properties.”
He also said it was essential to maximise on the location of the property, its surroundings and the land that comes with it to make it a “home from home.”
Watch the video below [11:06] hosted by Shekina Tuahene, commercial editor of Mortgage Solutions and Specialist Lending Solutions, featuring Robert Oliver, sales director at Castle Trust; Dak Lam, senior associate at Sirius Property Finance and Damian Cain, director of Complete FS.