For investors interested in the potential offered by Crossrail and West Drayton Station is this one bedroom property in Albert Road, which is very close to the Station, closer than Knowles Close which I have mentioned before. Roll out of bed and grab a bleary eyed coffee at 7am close.
Over the last year property in UB7 is currently stated as having risen in value by 7%.
The flat is one bed located on the second floor and with the configuration of the sloped roof adds character to the flat, in my opinion of course! The property also comes with allocated parking which is on my check list.
On the market at £158,000. One beds flats in the area are currently listed for between £725pcm and £825pcm. That’s quite a wide spread and reflects the availability at the moment of stock to tenants. For a landlord that’s a yield of between 5.5% and 6.3%, with an average of 5.9%.
I would rather chase cash than a yield – better to get your property let than looking for the highest return and suffering a longer void. However (with one exception) property to let has only been listed for an average of nine days in the area around Albert Road I don’t think there is too much to worry about on the void front, it speaks to me of fairly high demand for stock in the area from tenants.
Jeremy Wasden 09.04.2014
