The value of roof terraces

This change in direction causes a number of challenges for developers and architects, including finding alternative ways to add value to buildings when restricted on space. Recent trends indicate that many are turning to neglected roof spaces to achieve this and last month Market Watch confirmed that roof terraces are becoming popular in high-density areas where usable space is limited.

So what benefits do roof terraces offer to both developers and ultimately residents? We explore the ways roof space can be used to add value where space is at a premium.

Creating value for developers

Developers are constantly looking for new ways to get their project to stand out and creating outdoor roof areas and gardens is a popular way of doing that. Horticulture Week recently reported that green roof spaces in London have more than doubled since 2013 and the rest of the country is set to follow suit.

Of course the biggest motivator for developers to create such spaces is the monetary value they add to a project. A report from estate agent Marsh and Parsons in 2015 suggests that outdoor spaces, including roof terraces, increase the value of a property in London by up to 25%. For architects, the opportunity to make use of unused roof spaces also allows them to add interesting design features to a project and create distinctive showcase spaces.

Increasing the benefits for users

As the height of buildings increases, so do the potential perks for users. We are seeing many new ways in which people are enjoying the additional value outdoor terrace spaces provide. Real Estate Consulting noted that residents with access to roof top areas enjoy an enhanced lifestyle experience within their home whilst feeling a connection with the outdoors. Residents enjoy the luxury of contained outdoor spaces, either communal or private, in an otherwise bustling urban environment with dense housing and limited privacy in public green spaces. 

Adding a rooftop area to a tall building offers an array of benefits to developers, owners and residents. As the number of tall buildings in the UK continues to increase, it is very likely more users will be able to benefit from the extra value that roof terraces add to developments. 

Here at Kinley, we’re passionate about finding new ways to add value when space is limited and we believe roof terraces are an excellent way of achieving this. To find out more about our projects, follow us on Twitter @Kinley_Systems. The Terrace Book, available to download from our resource centre here, combines the different elements of flooring, planting and support structures to provide a versatile and reliable terrace package. 

Sources

http://www.independent.co.uk/property/outdoor-space-can-add-20-to-the-value-of-a-property-8700314.html

http://www.wharf.co.uk/news/property/terrace-balcony-can-add-12-9265766

http://www.hortweek.com/green-roof-living-wall-market-boom-special-report/landscape/article/1394253

http://www.propertyweek.com/in-depth/analysis-features/should-we-embrace-tall-buildings-or-are-they-a-blot-on-the-landscape?/5081836.article

http://www.propertywire.com/news/europe/uk-property-garden-terrace-201305227810.html

http://realestateconsulting.com/santas-not-the-only-one-hanging-out-on-the-roof/

http://www.marketwatch.com/story/how-rooftop-decks-are-becoming-the-must-have-amenity-for-2016-2016-05-13