Tag: range of potential tenants

13th October 2015

2 Bedroom Flat, Pembroke Pk, Three Bridges, Crawley

This 2 bedroom flat has just come on to the market today with estate agents, Mansell McTaggart. With a guide price range of £225000 to £235000, the property includes a balcony & allocated underground parking. Here’s the Rightmove link for further details http://www.rightmove.co.uk/property-for-sale/property-55362476.html

Pembroke Pk13-10-15There are two key aspects to this property that should appeal to potential investors. Firstly, there is an en-suite shower to the main bedroom & a shower over the bath in the family bathroom. Secondly, both bedrooms are doubles. The apartment should therefore appeal to both couples and sharers alike, which is certainly an investor plus point in helping to reduce void periods between lets.

Properties like this rent for £1000pcm to £1050pcm in the current market. Assuming you were to buy at the bottom end of the guide price range, you’d expect a gross yield of between 5.3% to 5.6%. Not too bad at all !

If you’re new to buy-to-let investments or are an experienced landlord contemplating adding to your existing portfolio, why not give a call on 01293 515588 for a chat. Alternatively, you can send 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.