Looking in last weeks Melton Times I was pleased to read that
the Old Dalby Business Park has been bought by a Birmingham based Property
Company. The article stated that they saw an opportunity to add value by
working with existing occupiers and the site has provision for further
development on the site.
The location is becoming a real business hub with easy
access to the A46, Nottingham and Leicester this site has attracted more
development in the form of the Old Dalby Enterprise Village, the existing Crown
Business Park as well as the Old Dalby Business Park. The site is home to
established business offering employment for local people and further
investment is a great thing for our area.
Since we started letting property in 1998 we have managed
houses in and around Old Dalby and one of the popular developments are the Queensway
houses, the former MOD housing. Although
this estate is outside of the main village, Old Dalby boasts a good Primary
School and a Pub. Queensway Old Dalby offers affordable living in a rural
setting and continued investment in this area will keep up the good levels of capital growth.
There have always been buy to let investors renting out
property on this estate. I think this goes
back to its military roots. When the site was closed in the Mid 1990’s and the
houses sold off, the two beds were going for around £40,000. Investing in
property has always been popular with people working for the Armed Forces as
families may regularly move between bases and quarters but owning a property
elsewhere and renting it out offers security for the time they may leave.
I mentioned in my property blog that a 2 bedroom property is
for sale on Queensway Old Dalby with Harrison Murray and is a prime example of
a good buy to let investment. It is a large two bedroom property and is on the
market for £132,500.
Looking at the Buy To Let Mortgage calculator on our
Belvoir Lettings website (www.belvoir.co.uk/meltonmowbray)
if you were to put a deposit of £30,000 down the Nationwide are offering a tracker
mortgage for 1.54% for 2 years, the repayments initially would be £417.97. When
you consider the rent we could achieve would be £550 pcm this could give a
comfortable margin for future repairs or costs and I would expect rents to
continue to rise over the coming years if the supply of property continues to
be so low and demand so high.
Please be aware there may be mortgage arrangement fees to
pay and when purchasing a property there is additional stamp duty to pay – the
above is an example only. Please seek independent financial advice before
making any investments.
I think investors should choose wisely when purchasing
property at the moment with the uncertainty Brexit brings. Those with the
ability to secure funds for a property purchase may be able to get a good deal
but should consider the future, a location like this is likely to succeed and
over the long term achieve capital growth.
Visit www.meltonmowbrayproperty.com
for honest opinion on rental returns.
No comments:
Post a Comment