Just on the market in the last few days is this tidy one bedroom flat. It features a good sized lounge and bedroom and still looks fresh and new. It’s on the market for £179,950. One beds in the area normally rent for around £850pcm in the area, so that makes for a gross yield of around 5.6%.
As the flats are newly built the lease is a reasonable length of 122 years. Newer properties tend also to make for fewer maintenance issues, once any snagging issues have been resolved. I understand that ground rent and service charge (inc building insurance) are currently £1500 per annum. A little on the high side, equating to nearly two months’ rent.
I mention this property because the location is good. Corwell Lane runs between West Drayton Road and Harlington Road and is close for Hillingdon Hospital and Stockley Park. Whilst the hospital employs 2,500 staff members, we get a lot of demand for property from employees at Stockley Park, where workers are employed by M&S, Canon, Apple and BP to name a few of the blue chip companies based there.
Good location makes for strong and consistent tenant demand which is what you need as a landlord.
