Good news for buy-to-let investors in Farnborough

According to new figures an increasing number of buy-to-let landlords are making a profit thanks to recent cuts in the bank base rate and a high demand for rental properties.

Latest figures show that 75% of landlords are making a profit and profits are up 5% on the last quarter, which represents a return to the same period in 2007*.

With this in mind shrewd buyers looking for an investment property could find what they are looking for at Redrow's Farnborough Central development, in Farnborough.

Holly Finer, area sales manager for Redrow Homes, said: "The outlook for buy-to-let investors is positive, with banks lowering their interest rates, and some great deals available from developers.

"Such is the high quality and specification of our apartments at Farnborough Central, they represent a good long-term investment prospect for buy-to-let purchasers, who can use rental income to subsidise a mortgage in the short term and still know that the property is likely to be worth considerably more in 10 to 15 years time."

The contemporary homes are also loaded with character and one-off features, thanks to their unique location within a converted, art deco influenced Royal Aircraft Establishment building.

The duplex apartments are great for friends sharing, as they have two spacious bedrooms and a bathroom or cloakroom/wc on each floor.

Holly added: "The rental market is solid in Farnborough, with many would-be first time buyers choosing to rent, which places investors in a strong position. Through ‘re:assure from Redrow', we can offer buy-to-let investors a range of incentives to help them get the right deal on their chosen property."

The 12-acre development, Farnborough Central, will eventually feature a mix of 54 new townhouses, 85 refurbished apartments in two existing buildings of historic interest, plus 194 new-build apartments.

The wider site formerly comprised the Royal Aircraft Establishment (RAE) and continues to be the home for the world famous Farnborough Aerodrome and the biennial Farnborough International Airshow, which attracts around 300,000 visitors every two years and celebrated its 60th anniversary earlier this year.

IQ Farnborough, next to the residential area, is one of the largest business development sites in the south east of England, with planning consent granted for 1.67 million square feet of business space. As well as over 200,000 sq ft of built office space it also includes a café, crèche and heritage centre. A four-star hotel, with leisure complex, is due to open in the near future.

Prices for two-bedroom apartments at Farnborough Central currently start from £209,950. There are also three and four-bedroom townhouses available priced from £241,950.

For more information, log on to Redrow.co.uk.

*Research carried out for buy-to-let mortgage brokers the Money Centre.