All our branches are now open. Health and safety remains our main priority, and in line with government’s advice, a number of strict measures have been put in place to protect our staff and customers

Is Botley Oxford's Sleeping Giant?

Is Botley Oxford's Sleeping Giant?

This week's Property Update from the Lettings Manager of Martin & Co Oxford

A landlord of mine called me on Wednesday last week as he had recently missed out on a 2 bedroom property in Hazel Road, Botley (opposite Botley Arcade) which sold in a matter of days. He had also been looking at a 3 bed in Cumnor village and that went within 2 weeks. He wondered if there was anything special about the area so I decided to do a little research.

I have highlighted Hazel Road, Finmore Road and Cumnor as locations for my Botley review, all of which are 1970's build houses with 1, 2 or 3 bedrooms.

The 2 bedroom property in Hazel Road was sold at £250,000. If it was offered to a decent standard it would attract a rent of £1025 pcm which offers a gross yield return of 5%. Finmore Road's 1 bedroom converted flat sold at £149,500. This had a complete internal redecoration and commanded a rent of £795 pcm which offers a fantastic annual gross yield of 6.3%. And finally a 3 bedroom property in Appleton Road, Cumnor which was purchased in January. This property offered 3 double bedrooms, garage and summer house and provided the perfect property for families looking to settle. The purchase price was £350,000 and it achieved a rent of £1600 pcm giving it an annual gross yield of 5.4%.

Rather than go on and on, I will leave you with this; All 3 locations showed a 20+% capital growth rise in the last 5 years.

Not a bad place to start your property empire I am sure you would agree!

If you would like to talk to me about property in this area then please call me or visit me in the office for a coffee and a chat.

Best regards

Richard Goodwin