Tag: studio flat

1st June 2016 (already !)

Studio Flat, Pound Hill, Crawley

Here’s a very pleasant looking studio flat in the Maunsell Park development, situated on the Pound Hill / Three Bridges border in Crawley. The property is marketed by Estate Agents Move Revolution at a guide price of £160000.

One of the features of Maunsell Park is its proximity to Three Bridges mainline station. As I’m sure everyone knows, Three Bridges station is ideal for commuting to Gatwick, London, the South coast etc….. In other words, in our opinion the location of this flat is absolutely brilliant. Here’s the Rightmove link if you want to take a closer look. http://www.rightmove.co.uk/property-for-sale/property-42169128.html

1-6-16 Maunsell PkStudio apartments at Maunsell Park command rents in the region of £725pcm to £795pcm. As with all rental property, however, the better the condition, the higher the rent that can be charged & the quicker it will let – no mystery there !

With a For Sale guide price of £160000, rents of £725pcm to £795pcm would give impressive gross yields of between 5.4%  & nearly 6.0%. As a second property of course you might wish to factor in the Stamp Duty surcharge of 3%, which would add an additional £4800 on to your purchase costs. Nonetheless, the gross rental yields calculated are pretty high when you consider that the average in the UK as a whole are only about 5%.

If you’re looking for buy-to-let property in or around the Crawley area, why not give us a call on 01293 515588 for a chat. We have many years of experience in the lettings business and, what’s more, our advice is free ! Alternatively, you can also drop us an e-mail to crawley@northwooduk.com.

The opinions expressed in this article are those of the author only and not of Northwood. If you are considering investing in property, please make sure that you seek appropriate professional advice.

 

 

 

 

 

 

 

 

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.