Buy to let investors could be in for a great return on Redrow Homes
With a number of buy-to-let purchasers already snapping up Redrow’s townhouses and apartments in Loughton, other would-be investors who choose to join them could see a higher yield on their savings.
The two-bedroom apartments and four-bedroom houses at The Rodings are just a short walk from Debden tube station, from where London can be reached in just 30 minutes. The development is also just a 22 minute tube journey to the new Westfield Stratford City, Europe’s largest shopping centre.
Many buy-to-let investors have already purchased and successfully let out properties at The Rodings and there’s still time for others to share in their success.
Spencer Munson, owner of Loughton-based lettings agents Spencer Munson Lettings, believes Redrow has struck on a winning combination of prime location and a great specification, which is proving to be a strong pull for renters.
“The commuter links are fantastic, with a Central Line tube station just a short walk away,” Spencer said. “But it’s the standard of specification that makes these homes really stand out in the area. Renters want to live in a brand new property and investors recognise that they won’t need to do any work on the properties for a number of years and that is an attractive prospect.”
As the only agents in Loughton dealing solely with lettings to be licensed by the Association of Residential Letting Agents (ARLA), Spencer Munson Lettings manage a number of properties at The Rodings on behalf of landlords.
Based on previous successes, the company, which also has an office in South Woodford, estimates the rental value of a two bedroom apartment at The Rodings, priced from £214,000, at around £900 a month and a four-bedroom Epping home between £1500 and £1600.
Spencer added: “Apartments and townhouses at The Rodings are well priced and we have individual clients who have bought multiple properties at the development. Investors are choosing to take their money out of the bank and invest it in these properties as they are getting a better yield on their savings and they own the asset.
“There’s a massive demand for rental properties in the area and an under supply, which has pushed rental values up. We are able to find the highest quality, professional tenants for our clients and on average this takes just two to four weeks.”
Lesley Stringer, sales director for Redrow Homes (Eastern), added: “The homes at The Rodings have a proven track record of providing investors with a constant and continual income. Based on the rentals that are being achieved, the potential is certainly there for one-off cash investors to get a higher return on the savings than if they leave their money in the bank.”
The contemporary venture has been popular with professionals and families alike, thanks to its close proximity to Epping Forest and the short commute into the city. It’s also close to the M11 and M25 motorways and the popular Loughton High Road is also easily reached for shops, bars and restaurants.
To find out more visit the development situated on Borders Lane, visit redrow.co.uk.
