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  • Property-a-holics

    Luton vs Milton Keynes

    I've been a member for a while and checking out the posts frequently. thanks PT for running a incredibly useful property info site.

    I've a question, have been mainly investing in St Albans in Herts for a while now both personally and more recently through a limited company. It is become impossible to get more than 3.5%  yield on rental income.

    I would like to find out from people investing or considering investments in Luton or in Milton keynes:

    - Where would you invest between Luton or Milton Keynes to build a 4-5 property portfolio of about 1M over the next couple of years. With a long term capital gain perspective. The rental ofcourse is important but as long as it washes it face is good. I'm looking at an investment window of 10 years?

    Any inputs, insights recommendations by fellow investors would be much appreciated. Best AR

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    AR

    Hi a1r,

    I was surprised to see no replies to your thread. I also live in St Albans. I have a few properties in St A. and Hemel Hempstead. I also have places in Hull (x2), Doncaster, Conway, and Manchester. I also am just finishing a new build house (50/50 JV with a builder) in Welham Green

    I have been looking at Luton and MK both for potential rental and for development opportunities.

    My view at the moment is that Luton has a lot of bad area's and you need to do a lot of homework to ensure you are buying in the right places. MK, in my opinion, is a nicer place, more good area's. The distance to London is less of an issue (better trains, but also change of working practice -more remote working etc). Improved transport links - ring road linking up Cambs to Oxford, East West train line, will add to deisrability. The technology corridor extending from Cambs across west,will bring jobs and more residents.

    So in the short term yield will be greater in Luton, but I think the combined Yield and Capital Gain of MK will be significantly higher.

    Hope this is of some help.


    Paul 


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    HI Paul,

    i was surprised tooSmile I've been following some of the landlords invested in MK on PT and was hoping to get some pointers in this direction. Although, I've to admit have not seen many posts from Luton landlords. I'm glad that you are invested in similar areas like us and have a good view of both St Albans and potential investment areas that we're considering Luton and MK. I would agree with you about the long term potential and Luton areas. However, there is a lot of new investment mainly regeneration coming into Luton and I wonder what Luton looks like in 10 years. The airport capacity is aimed at increasing by another 10 odd million from the current 11 million by 2030, targets set by LLAL, the Newlands development has been approved with Bicester like shopping a new stadium for Luton FC. Obviously, it's all a gut feel and speculation but it's useful to see thoughts and insights beyond your own. I do see a lot of things going MK way but the only one that concerns me is that there is a lot of existing stock and new one and I don't fully understand whether this is inline with the planned growth or just speculative when you compare with Luton where it's only pocketed new builds. thank you for your thoughts much help.

    AR

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    AR


    I know it may be difficult to compare, but could you choose say six 2-3 bed houses in both towns and look at the historical sales values to see which has already increased the most?

    They're only 30 mins or so apart from eachother by road, so which would you find it easiest to get to as a deciding factor?
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    Luton is drab

    MK is great  - Yes I live there so  I am biased -

    Geographically very central and room for growth

    HQ`s of big firms move here

    People from London want to relocate  and live and work here

    Population will double in 30 years - housing demand will never be satisfied

    That will keep prices going up

    Vibrant modern forward thinking and lots of green spaces

    New university will be built adding a new dimension

    New business start ups every day

    New east west rail link connecting more communities

    So we have London Birmingham Oxford Cambridge within an hour

    MK Dons will soon be in the Premier League - guaranteed

    Whats not to love about MK

    Top tip - Buy Victorian bricks where you can find them -

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    Jonathan Clarke. http://www.buytoletmk.com

    30 years ago i would have agreed with you

    But they are an iconic structure now - Probably will become listed in time

    I found an old gramophone in my loft the other day on a manic clear out session .

    Shoved it up there 30 years ago

    It was an ugly thing and it was touch and go back then as to whether it went in the tip or the loft

    The loft won on that occasion

    Glad i kept it now 

    It suddenly looks like a thing of beauty



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    Jonathan Clarke. http://www.buytoletmk.com

    An acquired taste, but each to their own haha! (The cows I mean, gramaphones are cool!)
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    Hey Jonathan!! That’s some list I’m really tempted now that two PLs from around both believe in MK more than Luton. Couple of questions can you point me to any data that supports the doubling of population and the factors that contribute to it by 2030. Secondly would you have any particular estates or areas that you would recommend over others. Thank you for very useful info. Thanks AR
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    AR

    You are welcome  a1r  I aim to please

    Not though doubling in population by 2030 - doubling in 30 years so 2049 ish

    Hopefully doubling in prices though by 2030 ! but thats a big ask - 2040 will do for me

    https://www.miltonkeynes.co.uk/news/milt...-1-8344426

    You can google for all the data - its my day off :-)

    Areas to look at depending on your model could be....

    City centre studio flats  in Nth 9th and Nth 10th St . Run down ex LA but land value is high

    Granby Ct - Next to MK Dons Stadium . again ex LA but will be bought out one day and redeveloped

    Walking distance of Bletchley Rail Station . New hub here for the new  east west rail link

    Oldbrook - for the new university and CMK rail

    Bradwell Common / Loughton / Conniburrow( some parts )  / Fishermead ( some parts ) - central to shops

    Any of the 7 regeneration areas if you are brave and like a punt

    Beanhill, Coffee Hall, Fullers Slade, Netherfield, North Bradville, the Lakes Estate and Tinkers Bridge.

    Get in now

    https://www.mkfm.com/news/local-news/mil...ion-plans/

    Got possibly  a 2 bed flat I own on Fullers Slade for sale . Complete refurb needed

    Non standard construction so might need a cash purchaser . 125K fixed price and its yours!

    Rent 750 pcm when 8- 10K spent on it . I can manage it for you

    Stony Stratford as the Jewel of MK will always hold its value but is expensive to buy in to

    Wolverton and New Bradwell are its less expensive cousins but victorian / edwardian

    If they represent say 5% of MK now ( guess ) then when the population doubles it will be only 2.5%

    That will represent a premium price surely and more people chase

    Some people will  want MK but they want old not new

    Just rented a 1 bed Victorian with a real  fireplace .

    That  sold it to the tenant as they are few and far between

    But with about 80 individual estates to choose from.... each has their own exquisite identity

    Something for everyone

    Happy hunting

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    Jonathan Clarke. http://www.buytoletmk.com


    Hey Jonathan! You're a star! THank you for your inputs which i've noted down and plan to go round the estates that you recommend above in the next few weeks. I have some family that live at the Oxley park estate which i quite like. Any thoughts on that or Kingsmead estate. thanks again for being such a great help. Regards AR

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    AR