Tag: Crawley Town Centre

29th January 2016

2 Bedroom Flat, Broadfield, Crawley

Here’s a 2 bedroom flat that has just come on to the market with Inspire Estate Agents at £185000. Although Broadfield may not be the most popular location in Crawley, remember that property correctly priced will always sell or rent. This flat also comes with the added bonus of a garage – definitely a selling point. Here’s the Rightmove link for further details http://www.rightmove.co.uk/property-for-sale/property-57580043.html

Hayling Ct 29-1-16

The location of this flat in Broadfield is very convenient for the Fastway bus service with access to Crawley Town Centre & Gatwick airport. So for airport or town centre workers it’s ideal. We’ve had a similar property on our books for a number of years now and have not had any issues letting it out.

Bearing in mind that there are two double bedrooms and a garage, rents for these types of flats are between £875pcm and £925pcm – depending on condition and when the property is marketed. These rents compare favourably with those for more modern flats close to Three Bridges station, which now let for up to £1100 pcm !

So, if you considered purchasing this flat, based on the asking price and anticipated rent, you would expect to see a gross rental yield of between 5.7% & 6%. These are fairly high yields for the Crawley market. Do remember, however, that high yields are often accompanied by lower capital growth. Still worth a look though, depending on your investment strategy.

If you’re looking to invest in the Crawley property market we’d love to from hear, even if your plans are only tentative at the moment. Just give us call on 01293 515588. What’s more any advice we give is free ! Alternatively, you can drop us an e-mail to crawley@northwooduk.com. Look forward to hearing from you.

 

 

 

27th November 2015

1 bedroom flat, Manor Royal, Crawley

Those of you with your ear to the ground or a finger in the air (to check wind direction !) , will have noticed how some office blocks in Crawley town centre are being converted into residential dwellings. Relaxation of the planning laws essentially means that provided the developer does not alter the outside of an office block, they can obtain “prior approval” to change its use.

The first office block to undergo this transformation in Crawley was First Choice House in Manor Royal, as reported last May in the Crawley News http://www.crawleynews.co.uk/successful-request-turn-offices-flats-Manor-Royal/story-21090362-detail/story.html

So, here’s a 1 bedroom flat for sale in First Choice House, Crawley. The property already has tenants paying rent of £850pcm, according to the marketing agent, Astons. The property is on the market for offers in excess of £180000.

For further details, here’s the Rightmove link http://www.rightmove.co.uk/property-for-sale/property-52230799.html

First Choice Hse 27-11-15

Clearly the vendor would like as much “in excess” of the purchase price as they can get ! However, bearing in mind that we are in a traditonally slow part of the year, with the the run-up to Christmas and IF you are an investor who can move quickly, do use your bargaining power.

If you can get the property for around the £180000 mark, with a rent of £850pcm, your potential gross yield would be just over 5.6%. So, pretty good. However, do check the tenant’s rent payment history and how well they’re looking after the property well.

Should you be an experienced investor, or new to the buy-to-let market,  do give us a call on 01293 515588. We’d love to discuss the different property investment opportunities that Crawley has to offer. Alternatively, you can also e-mail us on crawley@northwooduk.com.

 

 

 

 

19th November 2015

1 bedroom flat, Three Bridges, Crawley

Greenaway estate agents have just put this 1 bedroom flat on to Rightmove, with an asking price range of £175000 to £185000. Located at the popular Pemroke Park development, it comes with an underground parking space and has a balcony.  Here’s the Rightmove link for further details: http://www.rightmove.co.uk/property-for-sale/property-35472354.html

Pembroke Pk 19-11-15

As we’ve said before, location is vital when you’re considering property investment. It is one of the key factors in determing the length of void periods you might suffer during your ownership of the property.

Location is very good for this particular devlopment which, as a consequence, is popular with tenants and investors alike. If you’re familiar with Crawley, the flat is well placed for access to Three Bridges main line station (fast trains to London), Gatwick airport, Crawley town centre and just a short drive to the Manor Royal industrial estate. So, in our opinion, location is very good.

So what about the yield ?

Flats like this rent for between £825pcm and £875pcm at the present time. Based on the asking price & rent ranges, the gross rental yields are between 5.4% to 6%. Not bad at all, in our opinion.

If you’re looking to purchase an investment property now or in the future, do give us a call on 01293 515588. Even if you’re buying a property through a “rival” agency, we’d be more than happy to view it and give our opinion on the potential yield you might achieve. What do we charge for this service, I hear you ask ! To you Sir, to you Madam…. it’s free. But please, don’t let on to  anyone else ! Alternatively, you can also e-mail us on crawley@northwooduk.com.

 

1st November 2015

2 bedroom flat, Commonwealth Drive, Three Bridges, Crawley

We’ve featured a number of these flats on our blog recently. One reason for this is the location, which ticks a number of boxes and therefore makes them very popular for tenants.  For example, there is good access to Three Bridges main line station for those commuting to London, as well as good access to Crawley town centre, Manor Royal industrial estate and of course and Gatwick Airport.

Here’s a 2 bedroom flat at the Commonwealth Drive development on with Connells at £230000. There’s an open day on 7th November……..so give Connells a call if you’re interested. Here’s the Rightmove link for further details http://www.rightmove.co.uk/property-for-sale/property-37376022.html

CommonwealthDr 30-10-15You’ll have noticed that over the last few months the prices of these flats has started to creep up. However, so have the rents. Currently 2 bedroom flats in this development are commanding rents of around £1050pcm to £1100pcm. Based on a purchase price of £230000, this flat would give a gross yield of 5.4% to 5.7%.

If you’re interested in this property, please check to make sure that there is a lift close-by.  As it is located on the 4th floor, the lack of a lift would be a definite negative.

If you’re new to buy-to-let and would like some advice on what to buy and where to buy it, don’t hesitate to give a call on 01293 515588. We’d be more than happy to have a chat with you… and we don’t charge for a bit advice ! Alternatively, you can also e-mail us on 01293 515588.

28th October 2015

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

Commonwealth Dr 27-10-15Rents 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.