LETTING & ESTATE AGENT

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