Tuesday, 12 October 2010
Buy to let Opportunity in High Wycombe
Last night Channel 4 News featured the state of the UK "Buy to Let" market. Despite the general state of the economy, the Buy to Let sector is doing well. The October edition of "Landlord & Buy-to-Let Magazine" has just come out and there is a report on page 2 entitled " Rents increase in buoyant market" - The lettings market remains buoyant, as demand and a shortage of properties pushes rents higher, says the latest RICS Residential Lettings Survey.
High Wycombe in Buckinghamshire is a very popular location for the Buy to Let market. Located close to the M40 and with the A40 and A404 running through the centre. It is on the Birmingham to London Marylebone efficient Chiltern Railways network and there are out of town shopping facilities including John Lewis Home and Leisure and a modern town centre Shopping Centre "Eden" that houses a cinema, bowling alley. House of Fraser department store, Marks and Spencer and across the Oxford Road a large new Sainsburys.
Right in the centre on the A40 / A404 junction is BNU - Bucks New University (opposite Wycombe Hospital). The old Buckinghamshire Chilterns University College is now in one High Wycombe location with a newly built wing that has taken in the accommodation from the Newland Park, Chalfont-St-Giles and Wellesbourne campuses. They have purpose built accommodation for students close to the town centre, but like so many universities this really is for first year students.
So students need accommodation, employment is good in the area with all the excellent communication and business park at Cressex. The property prices are lower than Marlow, Beaconsfield and Amersham and there is a good choice. This means there is a great rental market.
A couple of minutes walk away in Rutland Court, Rutland Street, High Wycombe is an ideal buy to let property. So close to the new Eden shopping centre you don't need to take your car so you can leave it home walk to the Eden to shop or be entertained in the vening to bowling, cinema or eating in a selection of restaurants or pubs.
This flat that is in very good condition is available with no onward chain. The property comprises: security entry system, entrance hall, living room, kitchen, double bedroom, electric heating, double glazing, resident parking, communal gardens.
Wye Estate Agents are marketing this and the asking price is only £139,950. You won't get much closer to the town centre and is ideal for first time buyers or the Buy to Let investor. If you have a son or daughter studying at BNU what you can do is buy this flat and when they have finished their studies, let it out. It is only a couple of minutes from the hospital as well.
Wye Estate Agents can be contacted on 01494 451300 . They don't appear to offer a lettings service, however there are several excellent well established letting agents in High Wycombe.
Checking on "Rightmove" today there is in fact a flat in that development currently "Under Offer" with the asking price of £650pcm. Seems like a good place to invest.
Posted by Philip Suter at 01:08