Buy to let opportunities with Redrow in Kent
Would-be investors who choose to invest in a Redrow home at Sutton Woods in Maidstone could see a good yield on their savings, according to one local letting agent.
The spacious two-bedroom homes and three and four-bedroom townhouses at Sutton Woods are all built to Redrow’s exacting specification and, as fresh, clean, well-equipped and easy to maintain new build homes, will appeal to professionals looking to rent.
Mike Allen, sales manager at Maidstone based Sandersons Residential, said: “Houses are very popular with renters in Maidstone as they are generally more spacious than apartments and have added outdoor space, so the two, three and four-bedroom homes at Sutton Woods fit the bill in terms of investment potential.
“Thanks to the close proximity to Maidstone East station, which is around an hour’s commute to central London, there is a strong rental demand in the area from professionals so we are usually able to secure tenants for properties quickly."
“The condition of a property makes a huge difference to their rental potential so new build homes tend to prove most popular as they provide a clean, blank canvas with modern kitchens and bathrooms.”
Sandersons Residential estimate a two-bedroom homes, priced at £164,500, can achieve a rental income of £650 - 750 per month, a three-bedroom townhouse, priced from £229,950 an average of £800 - 900 per month, and a four-bedroom townhouse, priced at £289,950, an average of £900 - 1,000 per month.
Mike added: “In terms of the rental values being achieved in the area there is potential for one-off cash investors to get a higher return on their savings than if they leave their money in the bank. We are currently seeing buy to let purchasers achieving yields of between 5.5 and 6%, which is very competitive. And of course, if property prices rise, there is the added bonus of capital growth.”
At Sutton Woods, Redrow’s contemporary exteriors hide spacious interiors with generous room sizes, flexible layouts and an up to the minute specification for modern life. Many of the properties include carpets and flooring throughout and are open for potential purchasers to view.
The homes also offer the potential for further cost-saving on fuel bills, being built to comply with Level 3 of the Government’s Code for Sustainable homes. This means tenants will benefit from the energy saving properties of solar power renewable energy systems, low-use water management systems, low energy use light fittings and waste segregation bins to encourage recycling.
Redrow’s homes also come with the NHBC 10-year ‘Buildmark’ warranty and two-year guarantees on all appliances.
Built on the site of the former Senacre College, off Sutton Road, Sutton Woods is a stylish venture incorporating some stunning mature trees and areas of open space, while being just a short walk from the picturesque Mote Park and conveniently close to Maidstone town centre.
As Kent’s county town, Maidstone has a wide variety of shops, schools, sports and leisure centres, bars and restaurants, whilst Maidstone East station offers journey times to London Victoria or Charing Cross of around an hour.
To find out more about investment opportunities at Sutton Woods, visit the marketing suite and show home, open daily 10am to 5.30pm.
