Sell My House Quickly in Ealing
Sell My House Quickly found another interesting article about properties in Ealing. Is Ealing Village the Queen of the Suburbs’ sleeping giant?
A purchaser recently missed his chance to buy a two bedroom apartment in Ealing Village in Ealing Broadway, as it sold in a matter of days. Having visited the development he understands that there is something special about Ealing Village but asked me for more in depth information.
Ealing Village is located between Ealing Broadway and Hanger lane and runs parallel to Madeley Road on the North side of the railway lines which run from Central London into Ealing Broadway station. The development was built in the 1930s by the Bell Property company who also built Edmonscote on Argyle Road near Pitshanger Lane.
Ealing Village is an Art Deco development built in the Dutch Colonial style and legend has it the idea was to create a mini-Hollywood to attract film stars from Ealing Studios. The main attractions are a private swimming pool, tennis court, clubhouse and a superb location.
Ealing Village has just finished a thorough five year £5m restoration which was paid for through the service charge, the high service charge throughout the restoration works has kept property values low for an extensive period of time.
Now the restoration works are complete and the service charge has dropped down to levels similar to or lower than that of comparable developments in Ealing, I predict values will begin to rise quite rapidly, catching up and potentially surpassing values of comparable sized properties in Ealing.
A number of two bedroom flats have sold in the development for circa £450,000 in the last two years (similar sized two bedroom flats in Ealing are currently achieving £500k+).
The three bedroom flats which were selling for circa £300,000 five years ago, are now selling for in excess of £500,000 and the four bedroom flats which were in the region of £400,000 are now selling for close to £600,000. The four bedroom flats offer an additional living room along with more bedrooms, which obviously can be more appealing for both the owner occupier or investor.
As the achievable rents could be between £1,600 per month for a two bedroom flat and £2,300 per month for a four bedroom flat, the possible annual yield is higher than an house with the equivalent number of bedrooms in the area.
As well as potentially being a fruitful investment for the savvy buyer, Ealing Village also offers a wonderful environment in which to live and raise a family. During the summer months the pool and tennis court are used regularly and the lawns play host to many barbecues.
We found this article about “Is Ealing Village the Queen of the Suburbs’ sleeping giant?” on The Ealing Property Blog. Kindly click the link to read the full story.
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