I have been talking to a landlord who is thinking about purchasing a flat in the Holmesgate Place development off Church Road in Hayes, close to the lovely Barra Hall Park. The development includes Albacore Way, Fremantle Close and Holmesgate Place, some 206 flats and 76 houses in total. This new development was completed just over a year ago by Barratt and is located a mile from Hayes and Harlington station on the old grounds of Hayes football club.
On the market to buy at the moment are a couple of three bed townhouses for £355,000-£360,000. Smaller property is hard to come by on the development, as is rental property, which indicates to me people like living there and this could be a good area for a buy to let property. One resident described the development as a ‘small but beloved paradise’* and looking at the development I see the attraction.
Subject to condition, where they do come available one bedroom flats are likely to rent for around £900-£950pcm, two bedrooms for around £1150-1200pcm and three beds around £1350 which would make for a yield of 4.3%. For property investors this development may be one worth watching.
We don’t sell property but if you would like my opinion on which property investment is best for you feel free to visit me, Jeremy Wasden at our office in Hillingdon Hill or call me on 01895 257935.
*As described on their friendly facebook Holmsgate Place community page located at over here.
