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What Buy To Let Property is on the market near West Drayton Crossrail Station for less than £200,000?

Going out with a client this afternoon to look in West Drayton for suitable Buy To Let property investments and thought I would share with you my thought about what is on the market at the moment.

Going out with a client this afternoon to look in West Drayton for suitable Buy To Let property investments and thought I would share with you my thoughts on what is on the market at the moment, Saturday 6th December 2014.

Like many investors, this gentleman was attracted to the area because of the expected growth in demand for property in the area that Crossrail will bring when it opens in 2018.  

Looking at a maximum expenditure of £200,000 I wonder what is available within half a mile of the station?

One Bed Property New Garden Drive

 New Garden Drive

Located very close to the station in New Garden Drive, with a guide price of £120,000 this one bedroom flat would be a bargain if you could get it at that price!  It has 68 years left on the lease and is up for auction on the 10th December 2014 so you would have to be darn fleet of foot!  Probably a cash buyer only.  As a hammer falls you need to have completed your legal investigations as that is when a contact is made.  I think it will go for more.

 Proximity to the station, with good demand for one beds (especially with a garden), don't get carried away at the auction and subject to condition it may well be a good investment.  It's so hard for couples with a pet to find one beds with a garden, that if you are Pet Friendly you will see good demand.

One Bed Studio in the High Street

 High Street Yiewsley Sudio

Again a small property investment at £120,000.  Should let for circa £650pcm which makes for a yield of 6.5%.  On first blush the property looks to be in reasonable condition.  The location is a busy high street and that has advantages and disadvantages as I explain in the article I wrote about the next property.

 High Street Yiewsley Sudio

 3 Bed Flat Over Shops on the High Street

 3 Bed Yiewsley High Street

I have discussed this particular property before here back in September.  Never the prettiest of property but these can make good financial sense. Hillingdon council housing allowance is £1137pcm for a three bed property.  Using this figure as a base for what it might let for, sight unseen, on a cost of £199,999 would make for a yield 6.8%.

Good yield but condition, lease and other legals needs to be checked as ever.

2 Bed Flat Hawthorne Crescent

 Hawthorne Crescent 2 Bed Flat

A more modern property available in a residential area behind the station.  Driving there from the station take a little while, but for commuters there's nice open and spacious cut through's which mean a quick walk to the back of the station entrance near Warwick Road.

I would expect to achieve around £1000 to £1100 pcm for this two bedroom flat and at the asking price of £195,000 it would let for a yield of 6.1% if you achieved £1000pcm.

This is an attractive looking flat and I doubt it will hang around. 

In Summary

There are one or two more properties on the market at this price level, the yields are good at over 6% from what we have looked at but there is not large quantities of property available this close to the station.  As time marches on, given previous rises, there will be less and less at this price point.  At the moment consumers are not buying because of Crossrail.  Who moves because of a station coming in four years time?  When they do stronger increases will be seen, if favourable national market conditions maintain.


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