Bricks and mortar continue to be an
extremely popular investment. But which properties are good for buy-to-let?
Johnny Turner sees what’s out there.
The talk these days is of a slowing market,
which many think signals the worst possible time to invest in property. The
truth, however, is very different. After all, what happens in a relatively
quiet sales market? More people rent instead of buy. And the basic law of
supply and demand dictates that what is more popular tends to be more
expensive. So, with rental yields up and prices finally stopping their
monumental rises, it makes sense to look at the benefits of putting money into
bricks and mortar.
For those considering a buy-to-let
purchase, it is important to distinguish between what you would look for in a
home and what you should get in an investment property. Think of what a tenant
would want and aim for that. It may be that you will live in the property along
with a lodger, whose monthly rent will help you pay the mortgage. In this case,
your taste, commuter needs and other considerations are important – but try to
temper any tendencies to outlandish décor you may have. A very important
consideration in a property which will be shared by two or more people –
whether you are one of them or not – is adequate bathroom provision. Without
that you are unlikely to have a truly competitive rental prospect.
There are many high-quality new builds
out there that would make excellent investment properties. One example is
Berkeley Homes’ Arcadian Place, the
redevelopment of the former Wandsworth Boys’ School off Sutherland Grove in
Southfields. There are 29 two- and three-bedroom apartments, 19 of which have
been released for sale so far.
Situated at the summit of a tree-lined
avenue, which provides an imposing focal point, the restored Edwardian school
building is set around a courtyard garden. Views over the garden can be enjoyed
from most of the homes. This lovely environment is set within the wider
location of Southfields, a leafy enclave between Putney and Wimbledon which is home to a
wealth of restaurants, bars and cafés. The famous All England Lawn Tennis and
Croquet Club is only a short walk away.
The duplex show apartment demonstrates
the wealth of space and natural light these homes offer. The ground floor is
dominated by the spacious living/dining room, which wraps around into the
kitchen. French doors lead to a private garden. Upstairs the master bedroom has
an en suite shower room and fitted wardrobes, while the second bedroom is also
spacious. The second bathroom boasts striking tiling designs and Villeroy &
Boch suites with chrome fittings. High-tech provisions such as ‘star wiring’
enable up to four lines at each telephone point, as well as allowing for a
future paging and intercom system. All master bedrooms and living rooms have
table lamp electrical circuits and there is also underfloor heating.
Prices range from £395,000 to £460,000
for the apartments and from £490,000 to £910,000 for the houses. Not only would
these homes appeal to a wide range of upmarket tenants but the area is
excellent for capital growth, which also makes these homes very good candidates
for long-term investments. For further information contact the sales and marketing
suite on 020 8704 5517.
Barratt has launched a stylish new
development of sleek, contemporary apartments in Wallington, Surrey. At Reflections, the combination of affordable prices, modern design
and an extremely well-connected location spells buy-to-let success. These one-
and two-bedroom homes are proving very popular, particularly with first-time
buyers – and these are just the type of homes that tenants will love.
The homes are spacious and uncluttered,
with high specification and streamlined accessories. All apartments come
complete with designer fully fitted kitchens, including integrated stainless
steel oven, hob and cooker hood and concealed lighting. Most have en suite as
well as separate fully fitted bathrooms – a must for the buy-to-let purchaser.
The apartments have double glazing, energy-efficient heating, smoke detectors
and telephone and TV/satellite points. Outside there are carefully landscaped
communal gardens and private allocated parking, some of which is underground
and gated.
Reflections is located just a few minutes
from the centre of Wallington, which offers an excellent selection of shops,
along with a great range of cafés, restaurants and pubs. For further shopping,
Croydon’s three malls and retail park are just minutes away. For commuters,
fast and frequent rail connections go from Wallington to Victoria, with a
journey time of 35 minutes, while the M25 is only eight miles away at junction
7.
Prices for these stylish homes start at
£214,950 for one-bedroom apartments, while two-bedroom apartments range from
£229,995 to £299,995. The marketing suite is open Thursdays to Sundays from 10am
to 6pm and Mondays from 2pm to 6pm. Call 020 8835 2996.
Telford Homes is fast acquiring a
reputation as a reliable provider of apartments that are perfect for the
investment buyer. Hot on the heels of Tequila
Wharf, which is seeing great sales success in the buy-to-let market, Telford has ‘pre-launched’
a brand new scheme that is sure to be as
popular.
Estilo is located in Islington, one of London’s most
sought-after areas, off City
Road just by the Wenlock Basin of the Grand Union Canal. Just
minutes from Old Street and Angel stations and the City of London, this
development could hardly be more conveniently located. Those who work anywhere
in London will find quick and easy ways to commute; in fact, those who cut out
the commute by working from home will also find these apartments extremely well
suited.
The choice of leisure activities
available to local residents is endless. Besides the treasures of Upper Street’s
pub, bar and restaurant culture, you are also very near trendy Hoxton and cool
Clerkenwell, as well as a short hop from the West End.
One-bedroom apartments are now available
for early reservation, with prices starting at a very friendly £232,500. Call
selling agent Thomson Currie on 020 7354 5224. The two- and three-bedroom
apartments will be available from spring 2005 at the time of the public launch.
Completions are expected in 2006. Register your interest and get more
information at Telford’s website, telfordhomes.plc.uk.
Bellway Homes is converting one of the
oldest homes in England into a varied mix of houses and apartments. Built in the 14th
century, Hampden Hall was owned by
the Hobart-Hampden family and in the mid-20th century was used in many Hammer
films as a gothic backdrop.
The development is very well located near
the A41, which has a direct link to the M25. Stoke Mandeville train station is
very nearby, providing journey times into London Marylebone station of less
than an hour.
On the site of Hampden Hall there will be
approximately 150 units, including one- and two-bedroom apartments and three-,
four- and five-bedroom houses. These homes will appeal to a broad range of
buyers, from first-time purchasers to families to investors.
Prices start at £137,995 for a
one-bedroom apartment and £272,995 for a three-bedroom house. For more
information contact the sales centre, situated on Brimmers Way in Fairford
Leys, Aylesbury, on 01296 486041. Visit bellway.co.uk.
Westbury Homes is selling six beautiful
three-storey homes at phase two of its popular Oakwood development in a very
sought-after area of Guildford. Prospective buyers are urged to make haste; the previous phase of
13 properties was snapped up extremely quickly. At prices starting from
£315,000, these homes represent excellent value for money – a very important
consideration for those who are buying as an investment.
Oakwood is a quiet development with a
true sense of community. Just a short drive from central Guildford, it is ideally
located for excellent local schools and public transport (trains to Waterloo take 38
minutes). Guildford’s shopping and sporting pursuits, as well as its vibrant nightlife,
are close by as well.
Contact selling agent Clarke Gammon on
01483 880900 for more information.
KingsOak’s SL1 development in Slough is extremely investor-friendly, as buyer Myra Hunt found. In fact,
this experienced buy-to-let investor bought two apartments at the development.
Determined only to buy brand new properties for investment, for the convenience
and capital growth they represent, SL1 was the obvious choice.
‘I drive past the development most days
so I knew that it not only looks very good, it is also really close to home and
work, which will allow me to keep an eye on my investment,’ she explains. ‘I
knew that the area attracts young, professional buyers with the necessary
disposable income and who will be ideal tenants,’ she adds. ‘Property also
tends to hold its value so well that it will be security for the future.’
SL1 features just 50 high-specification
apartments and enjoys a central location. It is within easy reach of three
junctions of the M4 and its quick connections to the M25. There is also a swift
and frequent rail service into London Paddington.
Prices at SL1 start from £189,995 for a
two-bedroom apartment. Call 01628 664513.