Newbury’s newest apartments impress investors and tenants
24 August 2012, Investors have been quick to recognise the value of the latest major new homes developments in Newbury.
Equally important, so have tenants, reports Fiona Minx who manages lettings for Carter Jonas in Newbury.
"Our new homes sales team is involved with both the current major homes developments at Parkway Living and St Bartholomew's Grange," reports Fiona, "and they find investors are quickly impressed by the quality of the schemes and the selection of property styles and sizes."
"These are also the features that appeal to potential tenants, many of whom are professionals taking a career development stopover in Newbury who want flexibility to move on quickly rather than take up property ownership at present.
But they still have lifestyle aspirations and investors in these flagship schemes are literally unlocking an otherwise closed door for tenants.
I have just been instructed by the new owner of an apartment at Parkway Living, which let to only the second viewer at an exceptional monthly rent for a two bed apartment in Newbury. It is a sign of things to come in a strong market.
I have secured tenancies for four units at St Bartholomew's Grange. It's a different development style, with apartments created in converted historic buildings but, like Parkway Living, it is a high quality scheme that promises the reduced maintenance costs going forward, potentially easier borrowing requirements, and attraction tenants through the convenient location close to the centre and railways station.
The yield of about six percent is probably a better return than can be enjoyed on cash savings and less likely to be diminished by the higher maintenance and safety compliance costs associated with older properties, again pointing to the great investment value of newbuild homes for potential landlords."
For details of the new homes schemes in Newbury and their lettings potential, contact Fiona Minx on 01635 263020 or email firstname.lastname@example.org
Associate Partner - Head of Lettings
Fiona runs the busy residential lettings and management department in Newbury, letting and managing a wide range of properties from one bedroom town centre apartments to large farmhouses in idyll ...