This morning I spotted this one bed maisonette with garden on rightmove being offered by Chase Buchanan for £279,950
http://www.rightmove.co.uk/property-for-sale/property-59799730.html
Why did I choose this as a good buy???
Well firstly its got great potential. Being a first floor maisonette means having a loft!!! And we all love a loft conversion! and its got a garden!!
So subject to consent and planning permission you can add an extra room to add value to this property.
Secondly, location is walking distance to Hounslow High Street and also Hounslow Train station. So very rentable.
In terms of return on investment – Well lets run the numbers…
As a one bed flat (like it is currently)
Based on purchasing at asking price : £279,950
approx rental as a one bedroom flat : Approx £1100 pcm (£13,200 p.a)
Return on Investment: 4.7% yeild
As a two bed flat (subject to planning permission and consent)
Based on Purchase at asking price: £279,950
Works to add second room: approx £25,000 – £30,000
Total: £305,000 – £310,000
Approx Rental of two bed flat: approx £1400 + pcm (£16,800 + p.a)
Return on Investment: around 5.5% yeild
A good Potential opportunity to add value in a tough market
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