Draker has extended their geographical reach in London, with the opening of their third office in a prime Notting Hill location. Back in March 2020, the business launched a satellite office in W11, when more than 300 clients registered to let their properties over an initial ten-month period.
Tim Hassell, Draker’s Managing Director, says: “The wait is over now we have found this office – in the perfect location for us, with the right level of visibility combined with high footfall and a work space with soul.”
Mo Kanso, DrakersMo Kanso, Associate director and Manager of the new Notting Hill office comments: “Having worked at Draker for seven years and with a focus on Notting Hill since the start of 2020, it’s wonderful to now be based in the ideal office location, with a robust portfolio of clients already in place.
“As the leading lettings only agency in West London, we are excited to launch our new office with an unbeatable Let For Free campaign, giving each new client the first year’s introduction fees for free.
“This will save clients an average of £6,000 each. When we ran the same offer in Fulham Broadway back in 2017, we let over 100 properties saving our clients a total of more than £400,000 in fees, so we are confident Notting Hill landlords will feel equally incentivised.”
LOCAL DEMAND
The local demand for a specialist lettings agent has continued to gain momentum, hence the decision to open this third office.
Draker’s first office opened in Sloane Square in 2010 and in 2017 was followed by Fulham Broadway. Since opening in Sloane Square with just three members of staff, who between them let 80 properties during the initial 12 months, this office now has an experienced team of 20 who collectively manage over 460 tenancies every year. Whilst their Fulham Broadway team has expanded the overall headcount to 25, letting over 300 tenancies a year.
7,000 TENANCIES
Over the last 13 years, Draker has agreed in excess of 7,000 tenancies and currently let over 750 properties annually. The average age of their prime central London tenants is 38 years with the standard length of tenancy at 17 months, and a weekly average rental of £900/wk.
Tim Hassell, DrakersOverall, Draker looks after a combined total of 3,749 landlords with 54% domestic tenants and 46% from overseas.
Hassell adds: “Although the 18-month post-pandemic tenant frenzy is over and we have seen a 25% increase in properties coming to the rental market, compared to the same time in 2023.
“This new dynamic which allows tenants more choice and flexibility, demands an experienced and informed approach.
“Increasingly landlords require a proactive, results-driven level of support from their agent, in order to navigate this ever-changing climate and maximise their investment returns.”
