Significant investment opportunities are on offer at Old Saint Michaels, Essex, and The Manor, Suffolk – two outstanding developments from award winning heritage developer, City & Country.
In Braintree, Essex, landlords are achieving approximately 20% more in rental income for properties at Old Saint Michaels, compared with the rest of the town and the surrounding area.
The outstanding development offers a range of unique conversion properties, located in a Grade II Listed Victorian hospital, with prices starting from £147,500 for a two bedroom apartment.
Steve Smith, Branch Manager, from local agent Intercounty comments: “We’re seeing significant interest from investors at Old Saint Michaels - we have recently sold five properties, four of which were sold to landlords with tenants already in situ. The development offers a range of unique conversion properties, which is quite rare for the area, making it a popular choice with investors. The quality of restoration works, the gated privacy of the estate and the beautifully maintained gardens means prices are higher than the rest of Braintree, with landlords seeing approximately, on average, a 20% increase in returns and monthly rents in the region of £650 – £1,000 PCM, depending on the size.”
He continues: “The development has been particularly popular with young professionals commuting into London, and also nearby Stansted Airport, so much so that we sometimes refer to the development as ‘Little London’!”
Meanwhile further opportunities can be found at The Manor, which includes properties located in a former Japanese Temple and a fantastic range of newly built properties situated in the beautiful grounds of The Manor.
Here local agents are witnessing a robust lettings market, with sustained demand for quality homes. Max Bell from local agent Whatley Lane comments: “Due to the high rental figures achieved in the area, there has always been a good demand for investment properties, The Manor presents a unique opportunity for investors as the properties are situated in a prime location in the catchment of RAF Mildenhall and RAF Lakenheath.”
He continues: “The Manor offers a high standard of accommodation along with strong commuter links, meaning that there seems to always be a good demand for the rental properties from a large variety of prospective tenants.”
Two bedroom apartments at The Manor start from £199,950.
Helen Moore, Managing Director City & Country, comments: “Conversions of historic, listed buildings are inevitably rare. This leads to increased demand for a unique period property, which boosts the letting returns. City & Country developments have consistently been popular with investors who are seeking an individual property to add to their portfolio meaning it stands out from others in the market; of which The Manor and Old Saint Michaels are two outstanding examples.”
For more information visit www.cityandcountry.co.uk
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