Listed on Rightmove is this three bedroom semi-detached house close to West Drayton station. The property is on the market for £339,950.
Brick making History
This style of property in Edgar Road and nearby Colham Avenue is late Victorian, built on land used for brick fields near a small canal spur which was used in the brick making industry which helped fuel the development of London in it’s time. Brick making was a key local employer in the West Drayton, Cowley and Hayes area helped by the transport links offered by the canal.
Of course the canal was usurped by the train and now the area is very close to West Drayton Station which in 2018 will benefit from the Crossrail development and the improvements that will bring to the area. The station is less than half a mile away.
New Vs Old?
There is lots of new builds in the area and if you fancy a nice flat you can pay similar money for a nice two bed flat in the area (although there are cheaper new builds available) but this one will come with less service charges and your own garden.
This is my speculation but I think that family homes like this will benefit from Crossrail as those professionals in London mature and want slightly larger property. This is a fairly typical family home for the area. The average home in Hillingdon is currently priced at circa £313K and this is similarly priced.
A long term investment and how to let the property?
I see property as being a good potential long term investment for capital growth but it will require more work in the short term that a new build option.
Let as is the property might let for circa £1250pcm but I would make improvements and look at a HMO license which would require work really in the area of fire safety. The lounge is very large, possibly two rooms originally. I would divide downstairs and create another room to make a four bedroom property and possibly let for circa £1450pcm as a shared student property. Clearly more investment would be needed but this is achievable. Yields would be 4.4% vs 5% as say a student HMO property.
Not the highest yield in the world but the location does offer a certain excitement.
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.
