Recently brought to the market is this studio flat in Benbow Way, Cowley. The property is located on the High Road that joins Uxbridge and West Drayton and is not far from Brunel University. So the location is well placed for buses and good road access. The nearest station is West Drayton around a mile down the road.
The property has about 71 years left on the lease which would mean very roughly a cost of between £8,000 to £9,000 for a lease extension (i.e you would need to do your own research on this). Might be worth looking at the issue collectively with other lease holders but that is for another day!
Studios have let close by between £650pcm to £775pcm for a pretty immaculate example. This property looks to be in reasonable condition so taking a midway point of £712.50 makes for a yield of 5.7%. Add in £9,000 for the lease extension and you are looking at 5.4% so I would be looking to offer a little under that asking price to contribute to the bill I would be facing shortly.
But studios are a highly desired class of property by tenants. Demand is good for them and there are far too few on the market. I would investigate this one.
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.
