Investment opportunities
Sandersons UK have now let 14 units at the new Springfield Park Development in Maidstone, Kent for investor landlords with a proven marketing strategy to maximise rental yields. Every unit we have let in earlier phases are achieving a minimum of 6% rental yield. Don't miss out on the launch of phase 2....
The development
Springfield Park, by Weston Homes is recognised for offering more premium standards of accommodation compared to other developments in Maidstone. The mix of 1 - 3 bed apartments all come with parking and overlook the River Medway with many apartments enjoying terraces and river views. The shops restaurants, bars and other amenities in the town centre are just a short distance away and there are 3 train stations providing transport links to London and the Kent countryside.
Configuration
Our lettings team have worked closely with the Springfield Park team all year on the Phase 2 development advising landlords of the preferred configurations and orientation of the plots. There are some different options available and we have played a key part in giving landlords best advice on which units and specifications to choose based on our knowledge of demand. This has been critical in helping our clients achieve maximum rental yields.
Specification
The higher standard of finish reflects the quality of build specification with designer kitchens, Quartz worktops, Fascino sink, spray tap and boiling taps and Zanussi appliances. Luxury bathrooms feature RAK ceramics sinks, digitally controlled smart taps, smart mirrors and tasteful LED uplighting. Other features include oak doors, trims and flooring, audio/visual entry systems and USB double sockets.
Energy Efficiency
Although the apartments are more premium with a higher monthly rental, they are balanced with lower running costs as they are so well insulated with a B rating. We are recognising that EPC ratings are now having a direct influence on tenants choice of rental properties as they become more mindful of energy efficiency and running costs. Phase one was gas fired central heating and phase 2 are all electric.
Rental values
Examples of units we let with sale prices and rental yields is as follows:
- Adeline Heights (2 bed) sale price £235,000, we achieved £1,350pcm. Rental yield of 6.89%.
- Guinevere (small 2 bed) sale price £233,000, £1,250pcm. Rental yield 6.43%
- Guinevere (small 2 bed) sale price £248,000, £1,250pcm. Rental yield 6.04%
- Amphiom (1 bed) sale price £205,500, £1,175pcm. Rental yield 6.86%
- Ulysess (1 bed) sale price £214,000, £1,050pcm. Rental yield 6.16%
*note: the rental yield calculation is the annual rent divided by property value x 100
Pricing & availability
The final block of 1 and 2 bed apartments is being launched in December 2022 with some units already reserved. Sandersons UK lettings team are in regular contact with the site sales team for availability/up to date price lists and are familiar with the different blocks and specifications to advise on expected rental values.
Landlord Google review from the development
Tenant review from the development via sandersonsuk.com/reviews
