First investment opportunity of the new year in Cowley, Oxford

Happy New Year all,

I hope you all enjoyed a fantastic Christmas and here is to a prosperous 2017!

So with you all undoubtedly plotting world domination it is time to unveil the first of my new years investment crackers for you to consider:

This one is situated in Turner Drive, Cowley and can be found on the market with Connells Estate Agents for £290,000. The current rental achievement on this property would be £1000 - £1025 per calendar month. Only last month we let one on this street for £1000pcm.

On the positive side this is a very popular location and they let quickly. From this most recent let there were no less than 6 applicants viewing at the same time. From instruction of this property in 2009 to present it has never suffered a void and has appreciated in rental value from £850pcm to its present value. Add to that the recent sales history and the capital appreciation looks good too. A similar 2 bedroom property on this street purchased on 17th March 2006 for £171,000 sold on the 23rd October 2015 for £271,700 achieving a 58.88% increase over the 9 year period.

If you consider that this property is now being muted at £290,000 it yet further demonstrates the growth in this location which is expected to continue into 2017.

What I would say is that an offer should be on the cards here. Firstly this property was listed in July 2016. A whopping 5 months later and there have been no takers. It started life at £300,000 but there should be scope for a serious investor to get this down further.

Particular note should be made of the condition internally and externally (garden) There will be work necessary to bring this to a lettable standard. Re-carpeting of the bedrooms and a repaint throughout would be necessary and the garden needs re-seeding or re-turfing. I also anticipate new furnishings throughout as well as some attention to bathroom possibly re-grouting and new tiles and shower unit.

With all of that said and at the right price it would make a cracking addition to any portfolio.

An offer of £275,000 to £270,000 seems about right which gives you a 4.4% yield and thats not bad at all. This property last sold for £177,000 on 16th December 2005 so I'd like to think the sellers margins aren't that tight!

Call me for more on this or others.

Best regards


Richard