This two bed flat is on the market for OIEO £245,000 and has been on the market since November. Recent new developments especially in West Drayton town centre make the Park Avenue properties look good value.
Park West is a new development only a few years old, which boasts nice gounds, a concierge service, small gym and a rather cosmopolitan vibe. With all those services, service charges here are high, I believe at around £2,000 pa for a two bed but this will need verification.
What are the rental yields?
But yields are still reasonable. Within the rental market two bed property in Park Lodge are on the market for between £1,150 and £2,000 which is a fairly massive band in pricing. I suspect between £1,150 and £1,300 to be more reflective. My band makes for a yield of between 5.6% and 6.4%.
The development is worth considering for a few reasons and all of those reasons are the type of tenant who is attracted to the location. I have seen queries from tenants who might be:
- Heathrow workers and air crew
- Workers at Stockley Park based companies
- Professionals working in London who commute into Paddington from West Drayton station, which is withing walking distance
- Affluent overseas students
So a good selection of tenants attracted to the area.
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.
Based on publicly available information a review is not a recommendation to buy, more to share what we are thinking about the property. Talk to us if you want to know more.
