We’ve all heard of Ikea—there is probably a store in virtually every city across the globe—and no doubt you have spent many happy hours wandering around your local Ikea, marvelling at the cheap prices and chuckling over some of the odd names they come up with for their pieces of furniture. But were you aware that Ikea is planning on redeveloping run-down urban neighbourhoods to create buy to let utopias?
Not content with encouraging us to ‘chuck out our chintz’ in favour of minimalist Swedish designs, the big bosses at Ikea have come up with an interesting new concept that they believe will revolutionise the rental market in the UK. Apparently Ikea is planning on using some of the vast profits accumulated from the great British public’s obsession with shopping at Ikea on a weekend, and using it to turn derelict inner city wastelands into idyllic urban communities populated by attractive furniture and happy, smiling families.
It might be sounding a bit creepy at this point, but the idea is actually an interesting one. In the style of “new towns” such as Milton Keynes (although we hope Ikea designers stay well away from the hideous grid system), Ikea is looking to create an all-rental neighbourhood of family-friendly homes and office units. The properties will be owned by Ikea, but managed by a private company. Residents will be able to enjoy living in a neat, landscaped environment, plus take part in on-site activities.
To be honest, it all sounds a bit “Butlins” to me, but it is certainly a unique take on the buy to let business model. What do you think?
