A seasoned investor popped into the office this morning (after have been forwarded my blogs from one of his friends) as asked me if I had anything or knew of anything that would provide a good investment yield and good appreciation at the same time.
I initially started looking at the East Croydon areas, which as we all know, is the prime area to be buying right now (we recently sold a two bed flat for £245,000 and a newly refurbished 1 bed flat at £215,000), but as I was scrolling through the listings on Rightmove, I found this little gem in West Croydon.
West Croydon is (in relative terms) in need of modernisation. Croydon Council have realised this and have approved some large, luxury developments in the area. This means that as these developments complete, West Croydon properties will, naturally, increase in value both in rental and capital growth. We are already seeing an increase in prices, especially in the rental side of things.
So here we have a 2 bed flat on London Road, CR0, marketed by Mann – Croydon.
Rent: £1150pm (being very conservative)
Estimated resale in 7 years (estimated for all developments to be completed): £280,000+
Estimated rent in 7 years: £1500pm
Looks like a good one!