Opportunity for canny investors in Essex
Whilst official figures recorded a 0.3% drop in house prices for February, recent announcements that it takes eight years for the average first-time buyer to save the money needed for a deposit* suggest that getting a foot on the housing ladder is an ever-challenging task.
As a result, the number of struggling house-hunters looking to rental properties as an affordable living option has increased by 40% in recent years*, providing a unique opportunity for those with greater financial backing to buy property as an investment with the mind to lease it out to this burgeoning group.
Conservation and restoration specialist, City and Country Group, is creating a rare opportunity for prospective investors this weekend at its popular Old Saint Michaels development in Braintree, Essex.
City & Country Group will be hosting the weekend, between 10am and 5pm on Saturday 12th and Sunday 13th March; prospective guests should call to make an appointment. They will be given an investor information pack and the opportunity to view the spectacular show homes. Independent financial advisers will be on hand to provide impartial advice, and, as an exclusive offer to those who reserve a property at the development during the weekend, a refund will be made of the service charges involved in the purchasing process.
Helen Moore, Managing Director at City & Country Residential, comments: “Old Saint Michaels creates an excellent opportunity for potential investors to buy a unique investment property to rent out to local professionals and cash-strapped first-time buyers, for whom these individual homes are ideally suited. Plus, with yields of over 6% being achieved currently, potential landlords have the chance to achieve strong capital growth in the medium term, whilst enjoying healthy rents in the mean time.”
John Scott, Branch Manager at Allen Lettings in Braintree, commented: “The rental market in Braintree is extremely buoyant and in particular there is strong demand for individual high quality premises. Investors considering their next investment property should look at a combination of yield, likely occupancy levels and, critically, long term capital growth, and Old Saint Michaels in Braintree delivers on all three.”
The stunning conversion of the Victorian hospital at Old Saint Michaels consists of one and two bedroom apartments and houses, each finished to an extremely high standard and ready for tenants to move into. The properties combine a careful balance of traditional features and modern interior design, with restored original floorboards and engineered oak boards resting alongside integrated stainless steel kitchen appliances and white bathroom sanitaryware with chrome fittings. Set in beautiful landscaped gardens, the properties on Rayne Road, are close to Braintree town centre and railway station, and are just 12 miles from Stansted airport, allowing residents to enjoy a quiet haven whilst still being local to the convenient amenities of urban life.
Prices for apartments start from £135,000 for a one bedroom apartment and £152,500 for a two bedroom apartment. One bedroom mews houses start from £175,000 and two bedroom houses start from £290,000. For further information, visit the City & Country Group sales suite which is open daily from 10am to 5pm.
* telegraph.co.uk