Stamford Private Rents Hit £11.82 per sq. foot

One the best things about my job is helping landlords with their strategic portfolio management. Many metrics most property professionals (including myself) use when deciding the viability of a rental property is what properties are selling for, the average rent, the yield and an average value per square foot.


  However, another metric I like to use is the average rent per square foot. It is a great way to judge a property from tenant’s perspective i.e. what space they get for their money. Now of course, location is a huge influencing factor when it comes to rents, hence rent per square foot. 

The current average £ per square foot on Stamford property values (split down by type) are (and I must stress, these are average figures, so there will an enormous range in these figures);

· Stamford Detached Property - £281 / sq ft

· Stamford Semi Detached Property - £267 / sq ft

· Stamford Terraced Property - £308 / sq ft

· Stamford Apartments - £315 / sq ft


The extent of space you get for your rent is replicated in the space you get for your money when buying a property. The average size of rental property in the Stamford area is 868.6 sq ft - interesting when compared to the national average of 792.1 sq ft.

This means the average rent per square foot currently being achieved on a Stamford rental property is £11.82 per sq ft per annum

 So, what can be deduced from this?

  Whilst I am able to quote the average overall figure and the fact my research shows there is a correlation between the average £ per sq ft figures on property values and average £ per sq ft on rental figures as a property grows in size, something quite intriguing happens to those figures in terms of what the property will sell for and what it will rent for, when we change and increase the size of the property.

 Doubling the size of any property doesn’t mean you will double the value of it, in either value or rent. This is because the marginal value increases diminish as the size of the property increases. In layman’s terms, subject to a few assumptions, doubling the size of the house doesn’t mean doubling the value. 

 What really happens is a doubling of the size gives only an approximately 40% to 65% uplift in value, but here comes the even more fascinating part … when it comes to the rental figures, doubling the size of the house, only means 20% to 45% in increase in rent.

 In a future article, I will be discussing the actual added value an extension can bring, but in the meantime, in an overall and sweeping statement, most of the time it makes sense to extend if you are going to live in the property as long as the extension is proportionate to the property, but if you are going to rent it out ... possibly not. 

David Crooke
Owner & MD
UPP Property, Sales & Lettings 01780 484 554