Park Place, Stevenage
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Property in Stevenage – Park Place Buy to Let
New buy to let investment opportunity. Invest in Park Place, a new property in Stevenage. Property prices in this commuter town are expected to increase by 24% by 2020 as it caters for the London overspill.
Key Figures
£187,500Starting Price
6%Net Yield
Q1 2021Completion Date
Investment Details
Park Place will comprise 202 spacious Manhattan style, one, and two bedroom apartments. It is just a short walk from the railway station, where trains take just 20 minutes to get to Kings Cross in London, making it a perfect choice for commuters or those who wish to visit London often for leisure. Westgate shopping centre is nearby for weekend shopping sprees, and the garden cities of Welwyn and Letchworth are just a short drive away for summer strolls.
Units in Park Place start from £187,500 and feature modern, stylish features that reflex the buzzing surrounding area. Living areas will be spacious and open-plan. Kitchens and bathrooms will be completed with chrome finishings, to add a touch of quality and class to the overall apartment.
Why invest in Stevenage?
London commuter towns such as Stevenage have in recent years, experienced a phenomenal rate of growth in property prices. Between June 2007 and June 2017, the average house price in Stevenage increased by 58.5% from £181,475 to £287,692 according to HouseSimple.com. Having said that, its proximity to London means it is still an affordable option for those who have been priced out of the capital. One bedroom flats in Kings Cross are selling for £675,000, and as that is beyond most people’s budgets, it makes sense that more people are choosing to buy property within easy commuting distance.
There is already a direct train to King’s Cross – an area that has seen much rejuvenation and is now the home place of Google’s £1bn head office, that takes just 26 minutes. Stevenage is also about to become a lot better connected, with the Great Northern railway line being extended to connect Stevenage with other stations in London such as Farringdon and London Bridge, as well as places south of London such as Gatwick Airport and Brighton. We predict that with these improved connections to other London terminals and on towards Sussex, appetite for property and accommodation in the Hertfordshire town will soar.
Contact us today to learn more about the benefit of investing in London commuter towns and property in Stevenage.
The Numbers
Ground Rent:£200
Number of Units:202
Service Charge: £956.72
Prices:From £187,500
Leasehold:125 years from tbc
Completed with high specification.
Property now sold.
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