Month: September 2014 Page 1 of 2

Spotlight on Benedict Street – good buy-to-let investment?

Benedict Street comprises 203 properties – the majority are residential (there are 188 homes in Benedict Street).
The most expensive house purchase in Benedict Street is 64, which sold on 18/03/2014 for £316,200. The least expensive recorded transaction in Benedict Street is Flat 2 Benedictine Court, which sold on 16/02/1996 for £23,000. The most recent transaction to have been recorded in Benedict Street was 90. It sold on 28/05/2014 for £220,000.
There are 69 flats, apartments or maisonettes on Benedict Street. Some of these properties are relatively old, as at least ten of them were built one hundred and fourteen years ago. The valuation estimate for Benedict Street is £180,636, which makes it one of the least expensive places to live in Glastonbury, where the average house price is £208,473.
Capital Growth
Over the last 10 years, property prices in Benedict Street have risen by 44.5% compared to an average rise of 24.6% for Glastonbury as a whole.
Rental Yield
The average rents on Benedict Street are as follows:
Flats ~ £500 PCM
Terraced ~ £630 PCM
Semi-Detached ~ £735 PCM
Detached ~ £750 PCM
1 Bedroom ~ £465 PCM
2 Bedroom ~ £610 PCM
3 Bedroom ~ £750 PCM
4 bedroom ~ £795 PCM
Benedict Street has an average current value of £180,636 and with an average rent of £575 giving an average yield of 3.8%.
Not a lot of people know that…
In medieval times Benedict Street was known as ‘Madeload’ [lode = watercourse crossing or wharf] and from c1850 to c1950 was known as Station Road linking Glastonbury Station to the town centre

About Tom Morgan

Founder of Jungle Property the multi award-winning letting agent based in Glastonbury, Somerset. I am passionate about property and Glastonbury and about providing the very best advice to anyone who wants the best return on a buy-to-let property investment. For an open and brutally honest opinion on anything in the Glastonbury property market please contact me via tom.morgan@jungleproperty.co.uk

Spotlight on the Redlands Estate Glastonbury – good buy-to-investment?

The Redlands estate, otherwise known as the Actis estate, started life in 1970 on farm land belonging to the Abbey Farm (now the Rural Life Museum) and comprises 319 properties spread across 19 streets.
The most expensive house purchase on the Redlands estate is 28 Bilbury Lane, which sold on 09/02/2007 for £337,500. The least expensive recorded transaction on the Redlands estate is 18 Dunkerton Close, which sold on 06/12/1996 for £37,500. The most recent transaction to have been recorded in on the Redlands estate was 1 Mapstone Close. It sold on 11/07/2014 for £248,000.
The average value of properties on the Redlands estate is £218,338, which makes it similar in price to many of the other places to live in Glastonbury, where the average house price is £208,473.
Capital Growth
Over the last 10 years, property prices on the Redlands estate have risen by 17.4% compared to an average rise of 24.7% for Glastonbury as a whole.
Rental Yield
The average rent on the Redlands estate is £727 PCM (Range £595 – £875) and with an average current value of £218,338 this gives an average yield of 4%.
Not a lot of people know that…
The southern distributor (Bretenoux Road) was constructed as a “planning gain” by the developers of the Redlands estate. The plan was for it to emerge at Edgarley by the school entrance. Mendip Council, however would not sanction more houses on the lower slopes of the Tor. The county would not fund the completion of the road, so the whole concept failed.

About Tom Morgan

Founder of Jungle Property the multi award-winning letting agent based in Glastonbury, Somerset. I am passionate about property and Glastonbury and about providing the very best advice to anyone who wants the best return on a buy-to-let property investment. For an open and brutally honest opinion on anything in the Glastonbury property market please contact me via tom.morgan@jungleproperty.co.uk

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