Make the Rightmove and Live in Windsor’s Golden Triangle

Which ever way you look at it houses for sale in Windsor are pricey, but then for 900 years Royalty has considered it a good place to live

Windsor has many attractions notably the Castle and the Great Park, the riverside gardens and  excellent shopping. Windsor also has two rail stations, one to Paddington and the other to Waterloo.

For the culture vultures there is the Theatre Royal, the Firestation Arts Centre and a music festival in late summer.

There are three prime locations for property in Windsor, the first known locally as the ‘Golden Triangle’ – bound by Osbourne Road, Frances Road and Kings Road whose houses back onto or overlook the Long Walk. The second area is St. Leonards Hill close by Legoland and thirdly across the river to Eton.

The most recent development in Kings Road has been the Regency Style Townhouses facing the Long walk offered at £2.5 million, but generally expect to pay around £800,000 to £1,300,000 in the Golden Triangle with rentable values at £2700 pcm to £3600 pcm. Last year sale prices indicated a rise in value of 17.0%.

Move out of town to St. Leonards Hill you can expect to pay around £1.5 million with rental values of around £4500 pcm. There are two main developments that spur off the ‘Hill’, Dower Park (with well spaced out houses around a green) and the later built Illingworth you would be looking at average £830,000 sale prices and rentals of £2750 pcm. The indications are that sale prices increased by 12.3% last year.

Now cross the river to Eton a number of houses in the High Street have been entirely rebuilt behind the old facades and are highly individualistic, they will mostly be £1.0 million plus, but down the side streets there are some lovely character cottages, say in Tangiers Lane that come to the market at about £400,000 and rent at around £1000 pcm. At the Tangier Court development of flats (some overlooking the river) 1 bed flats start at around £200,000 and rent from £650 pcm upwards. Indicated price increases last year were 16.4%.

But if you really want to get into central Windsor there is the 1960’s built development Ward Royal which has gardens and parking, it also has an overhead walkway direct into King Edward Court shopping precinct. This development won an Architectural Award and is well maintained, but not appreciated by some of the older residents for not being in keeping with the rest of Windsor. The two principal areas are known as Mountbatten Square and Christian Square, 1 bed flats come to the market at around £250,000 and rent for £870 pcm and 2 bed flats are around £296,000 and rent for £1150 pcm. Sales prices last year increased by 16.5%.

I must say though, the development is a bit like Marmite you either love it or hate it.

Is there a downside to Windsor? – Of course there is, it can be teeming with tourists and of course the inevitable car parking problems. But, this is something we could guide you with, and we would be happy to have a chat 01753 622686.

This blog can also be read on our website www.rentahome.co.uk

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Property For Rent Set To Double In 8 Years When Crossrail Comes To Maidenhead

Boulters Meadow 003cropsmallWill properties double in the Maidenhead area when Crossrail comes to town? Developers are usually ahead of the game for the burgeoning demand by providing houses for sale and flats for rent.

Buy-to-Let mortgages are still available at the lowest interest rates for some time now. No wonder new developments are selling well.

Typically Shanley Homes have, in their second phase at Boulters Meadow, still available 2 bedroom flats starting at £340,000. Last year capital growth in the Blackamoor Road area of Maidenhead was 8.13%, that would mean in approximately 8 years time the value of the property would double, with a rent starting off at £1600 pcm for these quality flats, less maintenance and letting agent fees, that would approximate to £15,000 per annum income if bought with a lump sum from say a pension fund. Not bad when you compare that with other investments.

The Boulters Meadow development is situated close to Boulters Lock on the River Thames and approximately 1 mile to the town centre, Maidenhead Railway Station offers a fast and frequent service to Paddington in less than 30 minutes. The new Crossrail opening in 2018 will extend this service to the City and East London

If you would like to discuss investing in the Maidenhead area or would like a second opinion just give us a call on 01753 622686  or contact us through www.rentahome.co.uk

Racecourse Towns of Windsor and Ascot

The one thing that Windsor and Ascot have in common is that each has a racecourse. Everyone has heard of Ascot Week with its aristocratic connections. Windsor is perhaps best known for its castle, but in the summer Windsor Racecourse is a big draw for the horse racing community on Monday evenings.

How do the property prices compare? Which would be the best investment?

A 2 bed flat in Regency Court, Windsor sold in 2014 at £500,000 and the capital growth for 12 months was 7.76%. The property is in a gated development adjacent to the long walk with gardens and plenty of parking (gold dust in central Windsor).

Hamptons have a re-modelled flat just on the market at £2000 pcm. This location appeals to property owners downsizing and retiring and also busy professionals needing rail connections to London, the M4 and the airport.

Compare this with a 2 bed flat in the distinctive development at Burleigh Road overlooking Ascot racecourse, on the market with Chancellors at £440,000 and last year the capital growth average was 8.39%.  The property has a well laid out car park, a short distance of Ascot high street with shops with street parking, restaurants and rail station to either Waterloo or Reading. Typically these flats rent at £1650 pcm and appeal to the younger market.

The difference in the return on investment (ROI) of 4.8% and 4.5% respectively on these two properties could easily be nullified by the maintenance costs.

If you would like to discuss investing in either Windsor or Ascot just give us a call on 01753 622686 or contact us through www.rentahome.co.uk

Windsor Investment Opportunity

Clewer Hill Road, a 3- bedroom semi-detached house with parking, here is a property with Buy-to-Let potential. The property will need a bit of updating, but look at the one next door.

This type of property is always sought after for the rentals market. it will appeal to families with young children because it is situated close to schools and local shops.

It has come on the market for £339,950 with Horler & Associates and would rent out in the region of £1150 pcm, this would give it a gross yield in the region of 4.1% per annum.

The asking price is well below the average for the area which is £472,109 and the average paid price of £436,970 over the last 3 years. The value change of property (ie. capital appreciation)Clewer Hill Road, Windsor crop in this area is 21.85% over the same period of 3 years.

If you would like any advice on investing in Windsor and Maidenhead give me a call on 01753 622686.

Executive Accommodation

HMO’s produce a higher ROI on property investment than the normal lettings market, but they require a different approach to management and are more hassle than the average tenants.

Windsor & Maidenhead does not have as student population but there is need for accommodation for the migrant restaurant, hotel & retail trade in the area.

At the other end of the spectrum professionals visiting the area requiring short term accommodation can rent executive serviced apartments on a weekly basis usually paid for by their company, although cheaper than hotels it is still expensive but offers more freedom.

There is probably an opportunity for a niche market in providing longer term ‘multi – executive’ shared letting accommodation in a town centre location, aiming at well paid 30 year olds.

Let me explain – contempory modern furnished rooms with their own shower/bathroom, Wi-Fi, flat screen TV, separate bedroom and living areas. A communal high end fully fitted kitchen/ dining area and including a paid weekly cleaner. Parking highly desirable.

On The Market with Rent A Home

Landlords Calculate the Yield on Your Rentals

Property mostly performs better than other investments, but it is long term 10-20 years.

Do you know what the annual return on your investment (ROI) is on your properties?

We all have a tendency to watch the Capital Growth and use this as a measure because of the ultimate sale value, but checking the ROI is a must. Just covering the mortgage and agents fees are not enough.

Here is a handy dandy yield calculator from Pierce & Co:-

www.pierceandco.co.uk/letting-out-your-property/yield-calculator

On The Market with Rent A Home

Unaffordable Rents

How do we compare with other local authority areas when it comes to rents in the private rented sector? Will tenants be able to afford to live, or continue to live, in the Borough?

Take a look at the following comparisons:-

 

Local Authority     Average Rent      % of Income          Min. Income

Area                                                    Spent On Rent       Required *

 

Windsor &              £1342                  43.5%                      £40,000

Maidenhead

Bracknell                 £1102                  44.4%                      £33,000

Runneymede            £1252                 48.8%                       £37,500

If we look back to 1939, average rents were 9.5 shillings, earnings were £150 – £250 per year and a small 3 bedroom terrace house cost £399 freehold.

The % Income spent on rent was 25%.  A little difficult to reconcile, somehow it feels the wrong way round.

  • Guideline minimum income required by referencing agencies.

 

On The Market with Rent A Home