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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
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.
i was surprised too 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.
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?
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 -
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
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
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
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
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