Rental demand at Parkwest double industry average

1st February 2011

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Renting a property has become extremely popular in the current market place and Parkwest, the development by St George, is leading the way, with rental yields up to 7%

Renting a property has become extremely popular in the current market place and Parkwest, the development by St George, is leading the way, with rental yields up to 7% attracting investors to put their money in bricks and mortar as opposed to banks and building societies.

With landlord investments delivering 3.5% yields*, Parkwest is providing an unrivalled ROI at 7%, benefitting from a strong rental market in London's Heathrow Quarter.  Demand for upmarket rental properties from international students, pilots, cabin crew airport staff and frequent business travellers has proved to be the driving force behind this success .  Heathrow Airport is less than 10 minutes away as is Stockley Park, home to over 7,000 employees and Brunel University which benefits from wealthy students from all over the world.
 
Cameron Estate Agents who have offices in West Drayton and Uxbridge, have been successfully letting out properties at Parkwest at £850 per month for a Manhattan apartment and £1200 per month for a two bedroom apartment.  Paul Meredith, Director at Cameron Estate comments: "Camerons are delighted to be involved in letting the apartments at Parkwest.  The design and quality of the finish in each of the apartments is proving to be highly popular with tenants looking for executive living and 24 hour concierge, gymnasium and private parkland complement the uniqueness in the St George concept and makes this development stand out above all others in the area."

Attracted by the high quality and specification of the build, along with its fantastic facilities such as under croft parking, residents only gym and 24 hour concierge; buyers have already let apartments at Parkwest 20% - 30% above market averages and with 0 void periods in between.

Ian Dobie, Managing Director of St George West London also comments: "Situated only moments from Heathrow Airport, the M4 and M25 motorways, Stockley Park and with excellent main line rail links to Paddington taking approximately 22 minutes, West Drayton is already looking forward to future.  In addition to this the recent approval for the Crossrail connection in 2018 will enhancing commuter links into and across London."

Paul continued "With an extremely busy start to 2011, we are experiencing an exceptional demand for the Parkwest apartments.   If any Landlords are looking to invest at Parkwest we would be happy to arrange a meeting to discuss rent levels and local demand. "

* Source: Knight Frank Residential Market Update 2011

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