LETTING & ESTATE AGENT

Following the government’s update on 13th May 2020 regarding home moving in England during the Covid-19 outbreak, we are pleased to announce our branches in England will start re-opening their doors for booked appointments over the coming weeks. Health and safety remains our main priority, and a number of strict measures will be put in place to protect our staff and customers. Our offices in Scotland and Wales will continue to support customers from home. Visit our branch page to find contact details for your local office.

Melbourne or Chelmer Village, Which makes the best Investment

Melbourne or Chelmer Village, Which makes the best Investment
A landlord came to our office for advice a few weeks ago, asking whether he should buy a two bedroom house in the Melbourne or Chelmer Village area of Chelmsford.
 
We did some research and found that a nice two bedroom end of terrace house on Kings Road, a road leading to North Avenue in the Melbourne, for £185,000. We worked out the possible rent for this as £725 per month, which could achieve an annual yield of 4.7%. The properties in this area are quite popular with families and tend to have a great demand with investors and tenants alike, making it a relatively good investment.
 
A similar two bedroom terrace house on Jenner Mead , Off Henniker Gate in the Chelmer Village area, approximately four miles away across the City, has a value of £220,000. The possible rent for this property is slightly higher, at £850 per month, as it is slightly larger than the one on Kings Road. We found that although the rent can be higher, the annual yield was similar at 4.6%.
This shows that while a property can achieve a higher rents, it does not necessarily mean higher returns.
 
If you would like any advice when choosing properties, you may come and see us at our office on Duke Street.