Tag: Gatwick Airport

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.

 

 

 

21st January 2016

2 Bedroom Apartment, Three Bridges, Crawley

The Pembroke Park development in Three Bridges, Crawley is ever popular with both tenants and investors alike. Here’s a 2 bedroom apartment on the development being marketed by estate agents Moore & Partners with a guide price of £210000. The property details indicate a price range of £210000 to £230000. For a closer look here is Rightmove link :  http://www.rightmove.co.uk/property-for-sale/property-39221817.html

Commonealth Dr 18-1-16

The property looks to be in good condition from the marketing photos and the apartment block itself benefits from lift access – always useful for carrying the weekly shopping ! In addition, there is a an underground parking space, a balcony and the property is offered with no chain. Other similar apartments are being offered mostly at slightly higher prices, although the vendors here would presumably like to get as close to £230 000 as they could.

As we’ve said before, flats at Pembroke Park are in an excellent location for access to Three Bridges mainline station (fast trains to London & the South Coast), Manor Royal and Gatwick Airport.

Properties like the apartment featured here attract couples as well as professional sharers. It is therefore good to know that the main family bathroom has a shower over the bath, with tiling up to the ceiling in the “bath area”.

In terms of rent, these apartments are now commanding between £1000 and £1100 pcm. Taking the best and worse case scenarios in terms of purchase price paid and rent achieved, you get a potential range of gross rental yields between 5.2% & 6.3%. Pretty healthy indeed.

If you’re considering investing in property in and around the Crawley area, either now or some time in the future, you can always give us a call for a chat. Our advice is free and if we don’t know the answer to your question, we  almost certainly “know a man who does” ! So, give us a call on 01293 515588 or alternatively drop us an e-mail to crawley@northwooduk.com.

 

 

 

 

18th January 2016

Studio Apartment, Broadfield, Crawley

Here’s a studio apartment that has just come on to the market with Astons estate agents priced at £119950. Considering it’s January, the picture is not exactly seasonal and there are no internal photos. However, here’s the Rightmove link in case you want to take a further look. http://www.rightmove.co.uk/property-for-sale/property-52649125.html

17-1-16 Broadfield Barton Studio

Depending on internal condition, properties like this studio can achieve rents of between £625pcm & £675pcm. The location is very good for Broadfield as it is close to the local shops, healthcare centre and the Fastway bus service – with excellent access to Crawley town centre, Manor Royal and Gatwick Airport.

Based on the advertised purchase price of £119950 and an average rent of £650pcm, the gross yield comes out at a very respectable 6.5%.

Do remember, however, that properties with higher rental yields tend to “suffer” from lower long term capital growth. Having said that, the Zoopla price paid information (http://www.zoopla.co.uk/house-prices/west-sussex/crawley/broadfield-barton/?search_source=top_nav) indicates that this property sold for £23250 way back in March 1995. If the property sells at its asking price some 21 years later, it would have increased in value by just over 415% ! Still, 21 years is a long time to wait !

If you’re looking to make an investment in rental property in Crawley or surrounding towns, why not give us a call on 01293 515588. Our advice is free and we’ll be able to give you an unbiased opinion of the pros & cons of the property market in the area. Alternatively, you can e-mail us at crawley@northwooduk.com.

 

14th December 2015

Property Investments – Seeing the wood for the trees

As we approach Christmas so we are seeing quite a few properties coming on to the market which are already tenanted. This may be because some landlords have had enough of renting – after all it’s perhaps not as easy as it seems at first glance. It may also have something to do with that Mr Osbourne, the Chancellor, and his rather unhelpful tax announcements for buy-to-let landlords. We’ll be saying at little more about these in the next few weeks or so….so keep a look out.

Whatever the reasons for these landlords deciding to sell with their tenants in-situ, the same criteria about buying investment property still applies. Just because the property is currently tenanted, it doesn’t mean that it is necessarily a good long term investment. We still need to apply our critical faculties and look at each opportunity as objectively as possible.

Location, of course, is one of the keys to unlocking investment potential, as are the additional facilities that a property has to offer. In this context “facilities” refers to the general situation of the property concerned, particularly in relation to what propsective tenants are looking for. In other words, it is crucial that you have researched & know your market really well. If you try to put yourself in the shoes of prospective tenants you’re more likely to make a better & more informed investment decision. You can also talk to your local letting agents as well. They should have a mine of information on what type of property lets well and, perhaps more importantly, what doesn’t !

To illustrate the point, let’s take a look at a couple of flats that have recently come on to the market. They’re both on the popular Pembroke Park development in Three Bridges, Crawley. For those of you who know Crawley quite well, this developement, which was completed in 2010, is on the site of the old leisure centre. This location is ideal for access to Three Bridges train station with its fast line to London. In addition, you are also in a great position for access to Gatwick Airport, Crawley Town Centre and Manor Royal industrial estate. In our opinion, the location of this development is pretty much spot on.

So let’s look at the other “facilities” the flats have to offer ?

One of the flats we’re considering was featured in our blog post of 1st November. It is marketed by Connells with an asking price of £230000. Since then the advertised status of the property has changed to “sold subject to contract” – here’s the link to our blog post https://thecrawleypropertyblog.com/2015/11/01/1st-november-2015/ and to the Rightmove details http://www.rightmove.co.uk/property-for-sale/property-37376022.html?premiumA=true

The second flat we’re looking at has only come on to the market in the last couple of days. It’s being marketed by House Network.co.uk with a Guide Price of £225000. According to the agents, this flat is currently being let on an Assured Shorthold Tenancies (AST’s). Here’s the Rightmove link for further details http://www.rightmove.co.uk/property-for-sale/property-34542621.html

Page Ct 15-12-15

Take a moment to look at the details for both of the flats. What do you consider to be the main difference between them in terms of medium to long term investment potential ? Remember, try to look at them objectively from the point of view of prospective tenants !

In our opinion, the main difference between these two flats is the availability and quantity of parking.  The Connell’s flat has a secure underground allocated parking space, plus a permit to park and a visitors parking permit. However, in the case of House Network.co.uk’s flat, there is only apparently permit parking available. This usually means you do not have a guaranteed parking space and it’s more on a “first come first serve” basis. In essence, therefore, the Connells’ flat has the best part of twice as much parking as the other.

Clearly, statistically speaking, the flat with more available parking is, in the long run, more likely to rent quicker and have fewer & shorter void periods. I know which one I would consider buying.

Assessing whether a property is a good long term investment can often be quite difficult to do. As we’ve tried to illustrate above, even similar properties on the same development could lead to very different investment outcomes.

If you find yourself in an quandary, where you can’t see the “wood for the trees” with regard to a potential investment purchase, why not give us a call ? We’ll be able to cast a fresh & experienced eye on the situation and give you our objective, unbiased opinion. Don’t hesitate to call us on 01293 515588 or e-mail us at crawley@northwooduk.com.

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.

15th September 2015

2 bedroom flat, St Georges Court, West Green, Crawley

If you’re looking for annual gross rental yield above 5%, then take a look at this flat at St Georges Court. On the market at £195000 with ConnectUK, the flat, according to the description, has been refurbished throughout. The pictures look great and it has been newly double glazed. For more information on the property visit the Rightmove link here: http://www.rightmove.co.uk/property-for-sale/property-54672362.html

St Georges Ct

Flats at St Georges Court are older than those at Pembroke Park, for example, and tend to only have a family bathroom i.e. no  en-suite. As such, they are a bit cheaper to buy and do not command as much in rent.

However, the development is ideally located for Crawley town centre, Manor Royal, Gatwick etc…., so location is good for reducing potential void periods between tenants.

Properties like this are fetching £875 to £895pcm at present which gives a gross annual yield of between 5.4% & 5.5%.

If you’re looking for investment property and want some impartial free advice, why not e-mail us at: crawley@northwooduk.com or call us on 01293 515588. Alternatively, if you’re buying an investment property through another agent and want an independent opinion, we’re more than happy to help.