GP prescribes The Elektron as a smart investment
When they decided to invest for their future in property, GP Sunil Sharma and his dentist wife Rachna took advice from a relative who had already established a successful investment portfolio of his own. He suggested they look at The Elektron, Barratt's latest development in Leamouth, London Docklands. It was sound advice. The Sharmas secured a superb two-bedroom apartment at the development, and already have a tenant living there and giving them a return.Sunil, 33, said: "We were looking for something as a medium to long-term investment, as banks and building societies simply didn't offer us the potential we were seeking.
"My brother-in-law, who has a large property portfolio, advised me to take a look at The Elektron. When we visited the site, we were so impressed that we decided to buy an apartment there off plan - and put down a deposit in July 2007."
Sunil previously lived in Kent, and then moved to where he and Rachna currently live in Luton, Bedfordshire. That move enabled him to rent out the Kent house, giving him a first experience as a landlord.
"But buying at The Elektron was the first time Rachna and I had decided to invest in a property as a joint venture" he said.
As well as two spacious bedrooms, the eighth floor apartment has an en suite shower room to the master bedroom, plus a separate family bathroom, as well as an open-plan living/dining room and fully-fitted designer kitchen. There is also a balcony off the living room and storage space in the entrance hall.
The Sharmas paid £366,300 for the apartment and the price included integrated oven, hob and extractor, fridge/freezer, washer/drier, dishwasher and microwave in the kitchen, plus tiling in the kitchen and bathroom.
Sunil said: "Initially, we liked the design of the property - not only the layout of the rooms, but also the amount of living space they offered. We also felt that Barratt had many years' experience in the property market and had achieved a good reputation.
"We have been very impressed with the quality of product and service we have received from them. Barratt kept us regularly updated as to how the property was progressing, reminding us in plenty of time when we needed to get our finances in place."
The Elektron's fabulous location just a short stroll from the Thames bank and nearby Canary Wharf was also a key factor in their choice. "Our apartment looks directly on to the O2 Arena" said Sunil. "It's easy to get to Canary Wharf from Elektron - the Easy India Quay station on the Docklands Light Railway (DLR) is a two-minute walk from the apartment, or you can walk straight to Canary Wharf in about 20 minutes.
"As we were looking for nice corporate clients, we thought this was an ideal location. It is also suitable for people working in the City, as you can get to Bank or Monument on the DLR from Elektron."
Despite the gloom in the property market at the moment, the couple are convinced it will bounce back in Docklands, ready to take advantage of the London 2012 Olympics. "Although we are in the middle of a credit crunch at the moment, I believe things will be back on the up by 2012 - and our property will be worth a lot more" says Sunil.
Although they have no immediate plans to add to their portfolio, Sunil and Rachna, 30, will return to Barratt when they do. "We would definitely buy from Barratt again" said Sunil.
The Elektron is already changing the Docklands skyline, comprising three stunning towers rising to a maximum height of 25 storeys (76m) - making it the tallest Barratt structure yet built. It comprises a total of 437 one and two-bedroom apartments and is well over 80 per cent sold.
Currently available at The Elektron are one-bedroom apartments from £265,995 and £350,995 for two-bedroom apartments, all with great views over London and the Thames. Another pair of rooftop duplexes will be launched in the western tower later this year.
A fully equipped marketing suite is open, complete with show apartments. For more information, log on to Barratthomes.co.uk.
