If you're looking to expand your property portfolio in Hampshire, one of the apartments at Redrow's Farnborough Central might fit the bill, according to a local agent. Ben De Rossa, lettings manager at Chilli Lettings, says that investors can expect a yield of between £1,250 and £2,000 from a two-bedroom apartment at the scheme, and that there is great demand for these high-specification properties from local renters.
Ben says: "Investors have been renting out apartments at Farnborough Central through us for more than three years and in that time we have let out more than 100 properties. We have only had three tenants move out, so the fact that people are staying is good for our clients as they are guaranteed an income from their investment. There's a real demand for the apartments, which wouldn't be there if the standard wasn't so high."
He continues: "For an investor the figures more than add up as they can get a hefty return for their money. The finish of the apartments at Farnborough Central makes them appeal to investors as they know they won't have to worry about repairs or maintenance issues."
There are still are variety of one- and two-bedroom properties available at Farnborough Central, with prices from £155,950. Located on the former Royal Aircraft Establishment site, some of the homes boast views of the airfield. The development is within easy reach of Farnborough's rail station (two miles away) and the M3, underlining its appeal to commuters. There is also a leisure complex, café and crèche nearby too.
Julie Davies, area sales manager for Redrow Homes (South Midlands), says: "The rise of ‘generation rent' has created an opportunity for buy-to-let investors. As rents continue to increase in line with demand, we've experienced an influx of people who want to purchase properties and let them out to tenants. One of the things investors tell us they like about our apartments is that they include many of the essentials their tenants want and need from a home. These include integrated top brand name kitchen appliances such as fridge freezer, oven, hob and extractor plus washer-dryer."
To find out more about the properties available at Farnborough Central, visit the marketing suite, which is open from 10.00am to 5.30pm.