VELLUM LURES SAVVY INVESTORS
Telford Homes unveils its latest iconic Olympic fringe development
Vellum, Telford Homes’ latest development in Walthamstow E17, is proving to be well above average as a residential investment proposition. Savvy investors who have already purchased apartments at the development are achieving a solid annual rental yield in excess of six and even up to seven per cent.
Prices at Vellum start from a very affordable £147,500 for a studio, £182,500 for a one-bedroom and £225,000 for a two-bedroom, two-bathroom apartment, all including secured basement parking. With so few other new-build developments in the area, Vellum currently leads the Walthamstow new homes market, a situation which is generating steady demand for the scheme’s high-quality apartments.
Apartments at Vellum fulfil all the key criteria for an excellent residential investment property – the apartments are close to excellent transportation and each spacious flat is neutrally decorated and finished to a high standard, incorporating all floor coverings, kitchen appliances and light fittings, with the added benefit of an allocated basement car park space for every apartment.
In addition, Telford Homes’ Customer Service team will be on hand to demonstrate the property’s working features and explain all practical living information to help new tenants move-in, whether the first or subsequent tenants within the first two years of ownership. For landlord and tenants extra piece of mind, Telford Homes also provide a 24/7, 365 days a year free emergency repair service for the first two years, to deal immediately with any unexpected problem.
One buy-to-let landlord, who recently bought at Vellum, commented:
“I have bought three investment properties from Telford Homes in the last five years; the latest apartment at Vellum was tenanted two days after completion. With values outperforming the market, the properties let and re-let quickly at good yields.”
“These apartments are perfect for London residential property investors with size, pricing and location all spot-on for the quality rental sector, without losing regard for prestige and aspiration. Telford Homes have integrity and expertise that can be relied upon by investors.”
Walthamstow is proving popular with a mix of City and West End young professionals, creative types from the music and advertising industries, key workers and international students thanks to the area’s affordable rents and proximity to Central London.
Commenting on the rental market in Walthamstow, local estate agent Sean Hewitt, Spencers Property, said:
“2010 was a lucrative year for many of our landlords and investors in Walthamstow. Most rents increased by more than 10 per cent on the previous year.”
“As we start 2011, we are continuing to see record rents being achieved on all types of property in the area. Typically studios are renting in excess of £750 pcm, one-bedroom properties achieving in excess of £900 pcm and two-bedrooms in excess of £1100 pcm.”
“In recent years, we have seen a steady increase in young City professionals renting in Walthamstow, due to the ease of access to The City and Central London whilst offering value for money in comparison to other areas of London.”
“In our opinion, we feel the rental market will continue to flourish and prosper in Walthamstow particularly with the 2012 Olympics only around the corner.”
Vellum’s enviable position means that residents can commute with ease: Blackhorse Road underground station (zone three) on the Victoria line is within a ten-minute walk of the development, giving commuters rapid direct access to Central London and the West End.
The nearby North Circular provides drivers with links to the M11, M25 and A10/A11 for routes to other UK destinations. Each apartment at Vellum comes with a secured, underground parking space, so finding space on the street and overnight security need never be a worry.
Walthamstow offers residents a wealth of shopping and entertainment facilities and it is also home to Europe’s longest street market with over 400 stalls to peruse at leisure. Nearby Lloyd Park with its formal gardens is perfect for a weekend stroll and historic Walthamstow village is a step back in time with its 12th century architecture and narrow streets.