Buying to let is very much in fashion. Johnny Turner looks at the homes and the extras that are sure to attract investors.
The investment market is anything but static, as changing regulations, market fluctuations and new innovations force us to continually re-examine our best options. With the advent of SIPPs, due to come into effect in April, and various trends such as the rise of parental help to first-time buyers, the buy-to-let market is bringing both new opportunities and new potential problems.
Property investment has never been an exact science but there are ways to make sure you invest as astutely as possible. And one of those ways is to ‘buy smart’: choose a property that requires low capital outlay and minimal maintenance, is attractive to good-quality tenants. Newly built homes tend to tick all the boxes, as they don’t present buyers with the wear and tear that older homes do. And there are factors at the point of sale that make new homes the right choice for investors, from purchasing incentives and help with furnishings to specifically tailored guaranteed-rental schemes.
Location is an even more important consideration for buy-to-let purchasers than for owner-occupiers. After all, when your investment is also your home you are willing to forgive the idiosyncrasies of its placement; but when you have purchased with the express intent of getting tenants in, you can count on no such understanding from the marketplace. Simply put, popular, well-connected areas make good investment sense.
Docklands is one of those areas: perfectly situated for those who work at Canary Wharf or the City, near the Thames and within easy reach of both commuting and leisure opportunities, the Isle of Dogs is one of London’s fastest-growing enclaves. With Equinox, Telford Homes has introduced a brilliantly-placed residential complex at the tip of the Isle of Dogs, opposite Island Gardens DLR station – a location that has had buy-to-let purchasers flocking.
A new show apartment wonderfully illustrates the chic design to be found in Equinox’s 63 private-sale one- and two-bedroom apartments. Working with M & Y Interiors, an renowned interior design company, Telford Homes has created a show apartment at Equinox that inspires imagination of their visitors.
Sheena Ellwood, Telford’s sales and marketing director, says, ‘The new show apartment at Equinox is a great example of what can be achieved in an urban contemporary dwelling. I'm sure visitors to the development will be pleased with the interior design and will take inspiration from the apartment for their own future homes.’
Both investment buyers and owner-occupiers will find the show apartment a helpful visualisation aid. With two bedrooms and two bathrooms, the show apartment is located on the upper ground floor of the exceptional six-storey tower and illustrates the interior design opportunities that can be introduced in the other apartments, which range in size up to approximately 1,000 sq ft. The warm yet fresh colour scheme was inspired by the fantastic setting near the Thames. It has an outlook towards the Old Royal Naval College at Greenwich, which is a quick walk away via the famed Greenwich Foot Tunnel.
The show apartment kitchen, like the other apartments at Equinox, a contemporary design, including fitted German Systemat units from London designer Urban Myth and integrated appliances by Smeg and Siemens, including oven, hob, extractor hood, washer/dryer, fridge/ freezer and dishwasher.
Investment purchasers will be particularly interested in the en suite bathroom in the two-bedroom apartments, which feature pure white sanitaryware and high-quality polished chrome fittings by Grohe.
Prices start at £225,000 for a one-bedroom apartment and £320,000 for a two-bedroom apartment. The new show home and marketing suite are open daily. Call 020 7537 2302 or visit telfordhomes.plc.uk.
Crouch End has built up quite a reputation as a desirable London village. With equal parts good press and good word-of-mouth, this locals boasts a true community spirit, not to mention some fantastic shops, restaurants, parks and leisure facilities. Families, couples and singles are all fans of the N8 area, with its hilly north London feel and upmarket atmosphere.
At the area’s newest development, The Village, a new show apartment has been completed and enquiries are being taken through selling agents Castles. Viewings are by appointment only and will take place exclusively during allocated public and private launch dates for autumn/winter 2005-06.
The first-class contemporary interiors highlight what it will be like to reside at The Village, reflecting lifestyle appeal and a wealth of contemporary features designed to accommodate today’s discerning purchasers. The exclusive apartments will suit the living requirements of a myriad of purchasers: north London locals, first-time buyers and those upgrading to a larger property will be impressed, as will investment buyers – both those interested in starting a property portfolio and buyers wanting to add to their existing portfolio.
Comprising an exciting mix of 18 luxury two-bedroom apartments centrally located on Crouch End Broadway, The Village provides an exclusive address in one of north London’s finest postcodes. The benefits of living in Crouch End are second to none with excellent transport links into the City and West End.
Crouch End radiates bohemian cosmopolitan chic and is home to many writers, actors and other showbiz types who add glamour to an already impressive area. It is situated in a valley, which can be seen in picturesque views from Muswell Hill and Alexandra Palace. The local feel is chic and aspirational, with all the shops, facilities and local amenities you could wish for literally on your doorstep.
From boutiques to supermarkets, and specialist shops to coffee houses, Crouch End also boasts a large number of well established quality restaurants, bistros, wine bars and public houses. For leisure amenities, Holmes Place health centre offers a gym, daily classes, swimming pool, sauna, steam room, beauty salon, crèche, juice bar and café, while there are further pools and facilities at Park Road.
High specification features to these luxury properties include individually designed Veneta Cucine kitchens, modern stylish bathrooms and spacious living areas. Selected apartments have private decked areas. For those who require parking, there are a large number of allocated parking spaces for sale to the rear of the development, with prices at £7,500.
Prices start at £295,000, and there is a choice of apartments to suit a range of budgets and purchaser requirements, including four feature penthouses. Interest is already high, so early enquiries are strongly advised. For enquiries on all phases, and to register your details for an exclusive invite to the show apartment launches, call 020 8348 5515 or visit castles-estateagents.co.uk.
The 2012 Olympics have already livened up the regeneration of east London, and with it the buy-to-let market. Those homes with the best proximity to where the sporting action will be are finding buyers very interested indeed – and investors will be inundated with interest from prospective tenants. One of the best spots is Bow, where Widacre Homes and Circle 33 Lifespace have developed EastSide, a new residential scheme within walking distance of the future Olympic stadium site, where the opening and closing ceremonies are to be held.
Olympics aside, this is the ideal development for all seasons and will continue to be smartly placed long after the five-ring circus has left town. For commuting it is ideal, with easy access to Mile End and Bow Road tube stations and Bow Church DLR station. Further transport options will be enhanced with the arrival of the new Stratford International station, due to be in place years before the Olympic Games.
The stunning collection of 132 apartment incorporates a mix of studio apartments as well as one- and two-bedroom apartments set around a piazza-style garden square.
Prices currently start at a very affordable £157,500 for a studio apartment, £179,950 for one-bedroom apartments and £242,950 for two-bedroom apartments. Find out more by calling Strettons Residential on 020 7422 0989. Visit eastside-e3.com.
A much talked-about aspect of property investment is its upcoming link with pension provision. From 6 April 2006 it will be possible to count the purchase of residential property as part of your pension provision. This is making thousands of people in the UK re-think their position on buying to let and as a result there has been a rise in interest in sound investment properties.
A good candidate is Claremont Quays in Claremont Road, Seaford, East Sussex, which is being offered by Headfind Developments. These two- and three-bedroom apartments and spectacular penthouse have been built to the highest standards and offer owners a quality that has to be viewed to be appreciated.
The specification and build quality make these properties ideally low-maintenance for the buy-to-let purchaser. Kitchens are well designed and feature a wide range of appliances, while bathrooms have Villeroy & Boch sanitaryware and Hans Grohe taps and shower units. There is also a video entry system, secure basement parking, luxury lift and fabulous communal ‘interior’ garden which is discreetly lit at night.
Prices start at £225,950 for an attractive ground floor apartment with open-plan lounge/diner. A show apartment is open on Thursdays, Fridays, Saturdays and Mondays from 10am to 5pm. Call 01323 490300.
KingsOak is bringing help to the busy landlord in the form of a new limited-edition furniture pack offer at its Kings Reach development in Napier Road, Reading. Whether you are planning to live at this high-spec development yourself or are buying with a view to getting in high-calibre tenants, this will fully equip your new property with all you need, from curtains and carpets, furniture and light fittings, right through to duvets and bed linen. Even the knives in the drawers and the wine glasses to toast your new home are included.
‘This is a truly unbeatable offer,’ enthuses Bob Rutherford, sales director of KingsOak Thames Valley. ‘With prices starting from as little as £225,995, this is a fantastic way to start out in a new home or, alternatively, a great way to maximise your investment and fully equip your buy-to-let property.’
Kings Reach is well located for both natural beauty and city-centre convenience: it is adjacent to the green open space of Kings Meadow, yet only 700m from Reading’s newly regenerated, smart social and leisure scene, with the famous Oracle centre and a great choice of riverside shops, bars and restaurants.
The new development has 162 one-, two- and three-bedroom apartments. Prices currently start at £225,995 for a two-bedroom apartment. The development and show apartment are open daily from 10am to 6pm. Call 0118 939 3611 or visit kingsoakhomes.co.uk.
At George Wimpey’s Mathison Grange development in Bletchley, Buckinghamshire, the stylish four-bedroom, three-storey Kent home offers investors excellent rental potential.
The Kent is priced from just £260,000 and its spacious design makes it an appealing rental property for those looking to let a larger property for multiple tenancy.
The ground floor comprises a spacious dining area with French doors leading on to the rear garden, as well as a fitted kitchen, cloakroom and storage area. On the first floor are a large lounge and a master bedroom with en suite, with the second floor has three further bedrooms – one with en suite facilities – and a family bathroom.
All new homes at Mathison Grange have a high standard specification including gas central heating, double glazing and a fitted kitchen with built-in oven, hob and hood. The development is set in one of Bletchley’s most prestigious areas and is close to a huge selection of good local facilities. Milton Keynes is a short drive away, offering even more choice. For rail commuters, Bletchley railway station is within walking distance, offering regular services to London and the North. Call 01908 643466.