On the site of the old RAF base in West Drayton, just off Porters Way, is the prestigious Park West Development. As you see from the leaflet, luxury flats, with gym, award-winning grounds and a concierge service for your tenants.
On the site of the old RAF base in West Drayton, just off Porters Way, is the prestigious Park West Development. As you see from the leaflet, luxury flats, with gym, award-winning grounds and a concierge service for your tenants. The development has a cosmopolitan feel, granted by the affluence and proximity to Heathrow.
Half a mile from West Drayton station (as the crow flies) the development is well placed to benefit from Crossrail in 2018.
The property is on the market for £235,000 (OIEO) and two bedroom property in Park West is advertised for letting at between £1200pcm and 1400pcm. The asking price makes for a yield of 6.1% to 7.1%. An attractive yield! However the service charges are high, over a couple of thousand a year, after all you are maintaining the gym, grounds and concierge service and grounds to a high standard. There are quite a few properties to let on the development so I would expect the lower end of the estimate to be realistic for a quick let unless your property is divine, as luxury is standard here.
If an investor here I would be keeping an eye on property management costs and ensuring I got value of money and that the grounds and buildings stay maintained to a high standard so my investment continued to grow.
Belvoir Uxbridge don’t sell property, we are lettings specialists, but we do guide people based on our experience as to what might make a good buy to let property investment in the Uxbridge, Hillingdon, Hayes and West Drayton area. We don’t charge for this service but we would like to manage your property or help you find great tenants.