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In 2006 - 2007 a number of new developments completed in Dunstable. How have these performed since and are they a good buy for an investor as a Buy-to-Let ?

27/8/2015

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The developments that were completed at the height of the building boom of 2006 – 2007 in Dunstable are Watling Gardens to the South, Peppercorn Way to the North, Bramley Court/Russet Way to the East, Kiln Way further East near to the M1 and The Parklands in the centre of Dunstable behind the Grove Theatre.

For this article I will concentrate on The Parklands which is considered the premier development, has security gate access and allocated parking. It is a much sought after development located in the centre of Dunstable especially popular with young professional couples and the apartments are modern with balconies and entry phone systems.

These apartments were completed in 2006/07 and at the time a 1 bedroom apartment would sell for an average of £155,000 and a 2 bed apartment with ensuite would sell for an average of £170,000.

In February and June 2014 it was possible to pick up a 1 bedroom apartment here for £100,000 - £105,000 which one of our landlords did, but if you look now there are 3 available to buy and the average price has risen to £130,000.

If we look at the fortunes of the 2 bedroom apartments they are creeping closer to their original selling price in 2006/07 which was £170,000. Right now on Rightmove there are 3 available at £160,000. In March this year a 2 bedroom apartment sold for £152,000 and with the recent price rises we have been witnessing in Dunstable it is quite possible that these apartments will achieve their asking prices.

For an investor is an apartment in the Parklands a good buy ?

As I said at the beginning The Parklands is a much sought after development due to its location and apartments here always rent easily if well presented.

A one bedroom apartment will currently rent at £650-£675pcm and a two bedroom apartment £750-£775pcm giving a rental yield of over 5% after the service charge is included.

If you want advice on any investment property in Dunstable you are considering purchasing please contact me on 01582 343209 or email me daniel.bourke@belvoirlettings.com to talk to me about the potential rental value, suitability for the type of tenant you are after and my professional opinion on its suitability as an investment.


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Another large derelict site in Dunstable has planning submitted for redevelopment into housing and retail.

14/8/2015

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Again we are seeing further investment in Dunstable and the development of this eyesore on the Luton Road will be welcome by many.

An outline planning application has been submitted for the development of up to 100 dwellings and a small retail site on the former Ecomold site on Luton Road opposite the B&M and Carpetright retail park.

Information submitted with the application shows that there have been many enquiries for the site including use as a Data Centre, but these never materialised.

With the current demand on housing, both sales and rental, and the announcement that companies such as Amazon will be opening a distribution centre here soon the development of sites such as these should be welcomed.

This is the main approach from Luton into Dunstable and with the new Market Cross pub, the impressive circular Priory View development by the Council on Church St and hopefully the redevelopment of this derelict site the impression given as you approach Dunstable will be of a growing and improving town.

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Dunstable property prices soaring as London and the surrounding areas prove unaffordable.

14/8/2015

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Working with new investor landlords means that we also keep an eye on the selling prices of property to find their next purchase for their portfolio.

I was talking about this with a new Estate Agent based in Dunstable called Deakin-White who since their launch only a couple of months ago have risen to the top of the rankings on Rightmove for Sales Agreed in the area. Apart from their fresh approach to marketing even without a shop front they have found that as soon as a property is listed their phones are lit up by potential viewers and the prices of the properties being listed in Dunstable is pushing higher all the time.

Some quick research shows us that prices in LU5 have risen by an average of 18.34% over the last 2 years and in the last 6 months by 6.6% whilst the prices in LU6 have risen by an average of 16.94% over the last 2 years and in the last 6 months by 5%.

If we take The Parklands development in Dunstable as an example. This was completed around 2007 and is the premier development within Dunstable. A gated development located behind the Grove Theatre and within walking distance of the town centre it is a highly sought after location for tenants.

In May this year No. 101 The Parklands a 2 bedroom apartment sold for £150,000. In April 2012 it sold for £135,000 but when the development was completed in March 2007 it was sold for £176,000. Right now only 3 months after it last sold, 2 bedroom apartments are being sold at around the £160,000 level

In June 2014 No.34 The Parklands a 1 bedroom apartment sold for £104,950. At around the same time one of our landlords purchased a very nice 1 bedroom apartment in The Parklands for £100,000. Right now 1 bedroom apartments are being advertised from £125,000 to £140,000! A nice return for the purchasers of both these apartments even at the lower figure.


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    Daniel Bourke is the owner of Belvoir Lettings Dunstable and in his previous career in Architecture he was an Associate in a leading London Architectural practice

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