A landlord called in at our Hillingdon Hill office to ask our advice about buying a property in Oak Farm Estate, North Hillingdon. The area is residential and has good access to the A40 Western Avenue and Hillingdon tube station on the Metropolitan/Piccadilly line is in walking distance which is attractive to po-tential tenants.
Property available in the area is mostly two beds (maisonettes or houses), three beds or four bedroom family property. Two bedroom houses in the area are on the market at around £217,250, three beds for around £290,125 and four bedrooms for £326,500. The two beds let for £1,000 pcm, but there is a lot of variation for quality, three beds for £1,275 and four beds for £1,400pcm. That means the yield offered is 5.5% for 2 beds, 5.3% for 3 beds and 5.1% for 4 beds.
So yields are competitive in the Oak Farm Estate area and above 5% represents a good return for four bedroom properties for the Uxbridge area. One advantage of two beds in the area is that they are maisonettes or houses which have freeholds. Maisonettes often have a share of the freehold so attract less service charges than a flat, but provision for maintenance is still needed and leases vary so need consideration.
If you would like more useful information call in for coffee at our office on Hillingdon Hill, Uxbridge or give us a call on 01895 257935.
