In Yiewsley, at the southern end of Royal Lane just before it reaches Falling Lane is Frankswood Avenue. This one bed flat is selling for £170,000 there. It’s a bit of a walk to West Drayton station but still less than a mile and is handy for Hillingdon Hospital and Stockley Park and will still get tenants who work or attend Brunel University.
Last year one beds were selling for around £145K on Frankswood Avenue. Now prices have risen by around 9% in the Uxbridge area so that makes for a price of £158K. So I think from a landlords point of view they are over asking by around £12K so my offer would reflect that. Perhaps they have other comparables but that would be my argument and if you need a mortgage, surveyors are going to want those comparables.
Demand for one bed property is strong from tenants. They are popular with young couples and single tenants. One bed property lets for around £825pcm in the area depending on condition. At £800pcm this would achieve a yield of 5.6% at a purchase price of £170,000.
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.
