1 bedroom apartment, Commonwealth Dr., Three Bridges, Crawley
Moore & Partners have just marketed this 1 bedroom apartment in the ever popular Commonwealth Drive development, Three Bridges, Crawley. The guide price ranges from £180000 to £200000. This development is ideally located for access to Three Bridges main line station, the Town Centre, Manor Royal industrial estate and last but not least, Gatwick airport. Location-wise, it is ideal investment property material. For more details take a look at the Rightmove link http://www.rightmove.co.uk/property-for-sale/property-53724203.html
Rents for apartments like this have been pushing up towards the £900 pcm level and even higher, which seems astonishing for just 1 bedroom! That’s supply & demand for you.
As far as gross rental yield is concerned, if you can secure the deal at the lower end of the guide price range, you’re looking at 6%. Even at the upper end of the price range the return is still 5.4%. Not bad at all. If you’re an investor and in a position to move quickly, do bear in mind that you might be able to drive a harder bargain, particularly if the vendor wants completion before Christmas.
If you’re thinking of making a buy-to-let investment, perhaps for the first time, choosing the right property can seem quite a daunting task. If you would like a second opinion on what to buy & where, we’d be more than happy to have a chat with you. It doesn’t matter if you’ve seen a property advertised with another agent, we’re still happy to give you advice and, what’s more, it’s free ! Give us a call on 01293 515588 or e-mail us at crawley@northwooduk.com.
The Crawley Property Blog 