Tag: spot the issue ?

8th September 2015

2 bedroom flat, Broadfield, Crawley

Here’s and interesting apartment at Rathlin Rd on the outskirts of Broadfield, Crawley. The property, which is a 2 bedroom apartment with a balcony, is being marketed by Connells at £240000. The asking price may seem a bit steep when you compare it, for example, with the Pembroke Park development in Three Bridges. Rents for properties at this location vary from about £925pcm to £1000pcm, which would give a gross yield ranging from 4.5% to 5%.

Nonetheless from the marketing photos the property appears to be presented in very good condition. The Rightmove link is: http://www.rightmove.co.uk/property-for-sale/property-36264264.html?premiumA=true

Rathlin RoadFor the purpose of renting, however, there is one key drawback with this property. Can you spot it ? It can be remedied fairly easily for a few hundred pounds, but if implemented would make the property more appealing to a wider range of potential tenants – which is key to avoiding rental void periods.

Not sure of the issue we’re talking about ? Then drop us an e-mail to crawley@northwooduk.com and we’ll let you know.

If you’re looking for property investments in and around Crawley and would like some advice on what to buy and what features to aware of – like the apartment above – why not give us call on 01293 515588 or alternatively send us an e-mail to crawley@northwooduk.com   .

3rd September 2015

2 bedroom flat, Trafalgar Gardens, Pound Hill, Crawley

A 2 bedroom apartment in the gated Trafalgar Gardens development, Crawley. You can almost roll out of bed onto Thee Bridges station from here ! The location will appeal to a very wide range of prospective tenants from those working locally in Crawley or Gatwick airport, to those who commute up to London, but don’t want to pay London rents. Additional plus points include lift access (which is not included in all of the Trafalgar Gardens blocks) and underground parking. The property is marked by Fox & Sons at £220 000. For more information here is the Rightmove link http://www.rightmove.co.uk/property-for-sale/property-36198504.html?premiumA=true

Properties like this apartment in Trafalgar Gardens have been achieving between about £995 & £1075 pcm. Based on the purchase price this gives a fairly healthy annual gross yield of between 5.4% to 5.7%.Trafalgar Gdn 3-9-15There is just one feature in the property we would recommend changing, however. This should not cost too much (perhaps a few hundred pounds) and would make the property appeal to a much wider selection of potential tenants. As such, this would help in reducing void periods i.e. the length of time the property was empty between tenancies. If you’re interested in this property and would like to know the “tweek” we’re proposing, just drop us an e-mail and we’ll let you know.

If you’re looking for property investments in and around Crawley and would like some advice on what to buy and what features to be aware of – like the apartment above – why not give us call on 01293 515588 or e-mail to crawley@northwooduk.com   .

13th August 2015

2 bedroom flat, Three Bridges, Crawley

Marketed by Greenaway, here’s 2 bedroom flat with a £200 000 guide price. The property is currently tenanted so you might be able to buy a ready made investment from day one. However, if you do takeover the tenants, make sure that you check their rental history. Believe me, you don’t want to takeover a tenant who is struggling to pay the rent ! If you want to know more about what checks to carry out when purchasing an investment property with a tenant in situ, send us an e-mail and we can go into more detail than space allows here.

Three Bridges 13-8-15Details for this particular property can be found on Rightmove at http://www.rightmove.co.uk/property-for-sale/property-35908353.html

There is one feature of the property we would change, but it shouldn’t cost you more than a few hundred pounds. The change, however, will make the property appeal to a wider range of prospective tenants. Again, drop us an e-mail if you’re interested.

The fact that the flat is situated closer to Manor Royal than Three Bridges station does affect the rent a little. However, a property like this should be achieving £900 to £975 pcm, giving a respectable annual gross yield in the region of 5.4% to 5.9%. As this property is leasehold, don’t forget to factor in things like ground rent & leasehold charges if/when you run your ruler over it !

If you’re looking for property investments in and around Crawley or would like some independent advice on something you have your eye on, why not give us call before you part with any money. We don’t charge for our opinion. Feel free to call us on 01293 515588 or drop us an e-mail to crawley@northwooduk.com          .