Have just returned from a weekend camping in Dorset and settled down to have a look at the market in West Drayton. Sleeping in a tent makes you appreciate how noisy birds are, just how cold a May night can be under canvass and just how good four...
No not the tent.... I've just returned from a weekend camping in Dorset. Sleeping in a tent makes you appreciate how noisy birds are, just how cold a May night can be under canvass and just how good four walls of home are....
So settling down to have a look at the market in West Drayton....what's available?
There's a block in West Drayton of 12 studios at £1.35m in Trout Road close to the Crossrail Station of West Drayton. That makes the price per unit £112,500 not much of a discount on the current studio prices but then you do have the freehold. With a rent roll of £89,880, that means a yield of 6.7% (which is a monthly rent of £624 per property).
If you look at the plot there is a lot of space for parking. I wonder what a developper would make of the site... It's a good Yiewsley location next to key roads, a handy Tesco's, the station and bus routes...
So if I am not spending my lottery winnings on a block of 12 studios what else is there?
Well there is a one bed flat with a short lease for £145k in Albert Road. Lease extension required in a few years as it's only 66 years long. Super close to the station.
There are a few studios for around £119,500 which will let for circa £600pcm, giving a yield of 6%. Some of those have been on the market for a little while so it could be they are more open to offers now. Or a one bed flat over commercial premises in Fairfield Road, Yiewsley (that's the road near the Wilkins shop) at £145,000 again. It won't make Grand Design's but it got space and location on it's side. If it lets for £700pcm-£725pcm which R Whitley's think it will that's a yield of 5.9%.
If you are after a two bed this flat in Peplow Close is close to the station. On at £205,000 which subject to condition will let for circa over £950pcm but at that level makes for a yield of 5.6%.
In the last week a dozen properties in the size range 'studio to two beds' have come on the market in UB7. So worth checking on a regular basis if you are interested in West Drayton Buy To Let.
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.
Author: Jeremy Wasden