Parkwest was built on RAF West Drayton which used to house the military air traffic control. Since it’s closure in 2008, planning permission was obtained in 2010 and houses started to be sold there from 2011. Building work is still ongoing in sections of the development as new phases are completed.
The Parkwest Two Beds West Drayton. WIth some off plan developments on the market at £345,000 the asking price of £275,000 looks reasonable by comparison with the current crop of new builds.
Rents are high here running between £1,275pcm and £1,600pcm with a median of around £1,400pcm. At £1,400pcm the yield is 6.1%. So certainly a good return.
Service charges tend to be high however but the grounds are well kept and I hope that investment and maintenance for the future continues in the site.
Nobody knows the future, but Parkwest is a cosmopolitan attractive development and if you think that the long term outlook for property prices shows increases (as I do), this location in walking distance of the station much the focus of property investors due to Crossrail arriving in 2019 has to be attractive.
The area tends to house a lot of IT specialists at Stockley Park and Heathrow. Good jobs and nice tenants!
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.
