Horsham Hot Spot

There was a time when Horsham was Number One on Kirstie & Phils best place to buy a property and investors should take a look at the new Horsham Gates development.  With one bedroom flats starting at £142,500 the development will offer an exciting investment potential.

http://www.rightmove.co.uk/new-homes-for-sale/property-48912196.html

The flats are literally just up the road from Horsham mainline station and with some trains to London Victoria taking only 54 minutes the properties will be in high demand from commuters.  Gatwick workers are well served too with a 22 minute commute and up to 7 trains an hour to the Airport railway station.  As with all new builds the properties are “compact” but being brand new and perfectly sited in the town they will attract a good rent.  Being a bit smaller these would probably rent for around the £750 a month, giving a yield of 6.3%.  Larger 1 bedroom flats in the development are being marketed at £185,000 and would rent at the higher figure of £850 but would still achieve a yield of over 5%.

A Little Different

I saw this little one bedroom house come on the market with our friends on Crawley High Street, Mansell McTaggart.  The house is quite quirky in that the bedroom is “gallery” style above the living area.  You can see the pictures & floorplan by clicking below.

http://www.rightmove.co.uk/property-for-sale/property-48522871.html

Quirky is all very well but would it make a good investment.  Another agent in town is currently advertising one of these houses at £875, it has been enlarged by the addition of a conservatory but there would be no harm advertising the house listed above at £800.  The house would score highly with most tenants because of its Pound Hill location, parking and private garden.  If purchased at the asking price & rented at £800 the gross yield is 5.4%.  However I did read somewhere the other day that 75% of sold properties were not achieving their initial asking price so there could be room to improve the yield even further.