Month: October 2015

7th October 2015

Two bedroom flats in Maidenbower

Here are 2 two bed flats that, according to the agents, have been reduced in price today. The flats are in Greyrigg Rd, Maidenbower, Crawley, towards the “Audi” garage end.  The properties are on with Inspire & Zoom995, both with a guide price of £220000. The Rightmove links for further details are: http://www.rightmove.co.uk/property-for-sale/property-36042066.html & http://www.rightmove.co.uk/property-for-sale/property-54342965.html.

GreyriggThe development is only just over 4 years old and the last flat to sell went for £220500 in June this year. So what about the flats as investments ?

Currently 2 bedroom flats in this development rent for around £950pcm to £975pcm. Based on the guide price of £220000, you are therefore looking at a gross yield of between 5.2% & 5.3%. So, on the face of it, not too bad an investment.

If you’re considering purchasing these flats for investment purposes, however, there are a couple of provisos to bear in mind. The first, is that both flats do not lend themselves particularly well to professional sharers. Check the Rightmove details and see if you can tell why this is so ! If you’re not sure, just drop us an e-mail (crawley@northwooduk.com) or call us 01293 515588 and we’ll let you into the secret ! The “issue” that I’m referring to can be remedied for no more than a few hundred pounds, but would give you a much wider range of potential tenants to choose from.

The other issue to consider is that these flats are a little bit further away from the mainline station at Three Bridges than those, for example, at Trafalgar Gardens. Again , this might mean a slightly reduced pool of potential tenants and therefore, slightly lower rents and / or longer void periods between rentals.  All that being said, however, the flats would in our opinion, be a good investment option to consider.

If you’re considering property investments in and around Crawley and would like some advice on what to buy (and more importantly, what not to buy !), don’t hesitate to give us a call. We’ve got plenty of experience of the lettings market in Crawley and would be more than happy to have a chat. Alternatively, just drop us an e-mail to crawley@ northwooduk.com.

1st October 2015

2 bedroom apartment, Pound Hill, Crawley

Another month bites the dust ! This 2 bed apartment in Pound Hill, Crawley has just been listed on Rightmove today. Marketed by Moore & Partners it has a Guide Price of £190000. However, the Rightmove details give a price ranging up to £220000, so it’s fairly clear that the vendors are looking for a bit more than £190k. Here’s the link for further details: http://www.rightmove.co.uk/property-for-sale/property-54481715.html

Wakehams Green DrProperty in this area of Crawley usually rents for around the £900pcm to £950pcm mark. So based on these rental figures your maximum gross yield would be a healthy looking 5.7% to 6%. Putting the property on the market at this time of year might also indicate that the vendors would like the deal done before Christmas. So, if you’re an investor and can move quickly, an offer at the lower end of the price range might be just what they’re looking for.

If you’d like to discuss property investments in and around Crawley, don’t hesitate to give us a call on 01293 515588. You can also e-mail us on crawley@northwooduk.com.