Tag: Maidenbower-Crawley

4th November 2015

2 bedroom flat, Maidenbower, Crawley

Here’s a nice looking 2 bedroom flat in Maidenbower, Crawley on with De Vere at £215000. The property was reduced in price yesterday and was originally marketed from 9th October at £220000. From the internal photographs, the flat looks to be in very good condition. Here’s the Rightmove link if you want any further details http://www.rightmove.co.uk/property-for-sale/property-55264778.html

Lyon Cl 4-11-15The recent £5000 price drop might be for a host of reasons. For example, the sellers may now have found a property to buy and want to get “things moving forward” more quickly. On the other hand, they may have just tried “testing the market” at the higher price and have now come down to secure a buyer. Whatever the reason, however, the drop in price indicates that the sellers may well be flexible in future. To put the current asking price into context, similar nearby flats that have sold recently are 30 Lyon Close (£190000 May 2015) and 50 Dakin Close (£205500 May 2015).

As we’ve mentioned before, if you can move quickly on property purchases, you can often negotiate price reductions. So if you’re an investor and interested in this flat, do bear this in mind.

What about the rental yield ?

Properties like this one rent for about £950pcm to £975pcm. Based on an asking price of £215000, this would give you a yield of 5.3% to 5.4%. Of course, if you can negotiate a lower price, so much the better !

If you’re considering investing in property and would like some advice on what & where to buy in the Crawley area, we’d be more than happy to have a chat with you. Give us a call on 01293 515588 or drop us an e-mail to crawley@northwooduk.com.

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.

22nd July 2015

2 bedroom flat, Maidenbower, Crawley

In our opinion, here’s a good two double bedroom flat in Maidenbower, marketed by Choices with a guide price of  £220 000. The bathroom includes a bath as well as a shower cubicle – so all bases covered there. Although the property does not benefit from an ensuite shower room, in good condition it should let for about £995 pcm. This gives a maximum gross annual yield of about 5.2%. Not too bad at all !

Here is the Rightmove link if you would like to check further details: https://www.rightmove.co.uk/rmplus/property/showPropertyMcr.action?propertyId=35549922Maidenbower 22-7-15If you would like any advice on where or where not to buy for investment in the Crawley area, or want the lowdown on a property you have your eye on with another agent, feel free to give us a call on 01293 515588 or e-mail crawley@northwooduk.com.