Experts specialising in Investment Opportunities in Oxford

Specialists in the Purchase of Investment Property in Oxford

INVESTOR – BUY TO LET
ABOUT OXFORD
OXFORD PROPERTY MARKET INVESTMENT
BUY TO LET – Case Information (3 Cases)

TOP TEN TIPS (Property Investment)

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INVESTOR – BUY TO LET

North Oxford Property Services Limited specialises in the purchase of investment properties in Oxford. We act solely on behalf of the investment purchaser and offer impartial and objective advise and guidance on the purchase of the investment property.

Over the years we have negotiated and acquired many investment properties for our buy to let investors. We will negotiate hard with the local estate agents and developers and obtain the best deal and price possible.

On instructing us to act on your behalf, we will discuss your requirements and formulate a plan to meet your needs.

Analyse the market and obtain details on suitable properties and prepare and assessment report for each property detailing potential rental income, yields and capitol gains forecasts.

Monitor the purchase process. We will keep in contact with the solicitors, mortgage companies and surveyors to make sure your purchase is being professionally handled and progress the purchase through to completion.

Once your purchase has been confirmed we can also advise on any work or furnishings required maximising your investment properties rental income. Over the years we have built up a relationship with many excellent and reliable local builders and furniture suppliers. We can arrange for any building works or furniture supply at very completive rates.

Our fees for carrying this service is 1% of agreed purchase price plus Vat. To register for this service, clients will be required to pay an initial fee of £500 plus Vat per property (as a gesture of intent) this amount will be deducted from the final invoice.

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ABOUT OXFORD

Oxford is know as “The City of Dreaming Spires” and is famous the world over for is University and place in history. For over 800 years, it has been home to Royalty and Scholars, and since the 9th century an established town, although people are known to have lived in the area for thousands of years. The town was established around a safe crossing of the river Thames (Oxen-ford).

Nowadays, the city is a bustling cosmopolitan town with a population of 138,000. Still with its ancient University, but home also to a growing hi-tec community. Many businesses are located in and around the town, whether on one of the Science and Business Parks or within one of the a number of residential areas.

Oxford University comprises of 39 Colleges offering a very wide range of courses with all the associated facilities. There is also the rapidly expanding Brookes University situated on the east side of the town whose numbers are now equivalent to the main University. With the arrival of students and visiting academics to the University, medics to the large teaching hospitals, together with tourists from all over the world, the city is put under considerable strain as the resident population doubles in size.

Many of the colleges have fine gardens and beautiful quadrangles. Christ Church Meadow has spectacular riverside walks. The Botanic Gardens opposite Magdalen College, were founded in 1612 and present an opportunity for quiet relaxation just off the main High Street.

The Bodleian Library, founded by Sir Thomas Bodley in 1602, is one of the world’s great libraries and contains over 5 million books. Oxford’s famous museums include the Ashmolean Museum, the Pitts Rivers Museum, the Museum of the History of Science, the Museum of Oxford and the Museum of Modern Art.

With this large transient population Oxford enjoys one of the strongest letting markets in the United Kingdom, with good rent yields and rising capitol values, both of these have held up well in times of recession, and along with London have been at the front of increases during more inflationary periods. We see no end to this trend as building land for new development is in very short supply along with the fact that the city is surrounded by greenbelt land.

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OXFORD PROPERTY MARKET INVESTMENT

As with all investments there is an element of risk whether you are investing in property, the stock market, bonds or gilts. However we believe there are a lot factors that point to the Oxford property market being a sound investment in terms of capitol growth and yields.

Why invest in property as opposed to other investments?


		People are living longer.
		Governments cannot continue to support the ever-increasing age burden.
		Pension yields are dropping.
		Final Salary Pension Schemes are rapidly being discontinued, as companies cannot afford to underwrite the performance risk.
		Under the Chancellor pre-budget of December 2003 he states the requirement for 250,000 new homes to be built each year if we are to avoid a housing shortage. This year it is anticipated that fewer that 150,000 will be built.
		Migration from other regions of the UK to the South East put even further stain on the housing market. The unemployment rate for Oxford is less than1%.

All the above items add to the pressure on housing market. In Oxford as in other areas of the South East the supply fails to reach the demand, therefore we believe this pressure will continue to push up property values.

The Centre for Economics and Business Research forecast the average house price will “ soar above £300,000 by 2020” forecasting an average annual growth of 6.76% per year until 2020.

With interest rates set to remain at a low level for the foreseeable future property purchases are set to remain a good investment showing a good return rental return of around 5 – 6% on top of the capital growth on the value of the property.

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BUY TO LET – Case Information.

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CASE 1 - Chancellor Park Oxford - 2001

Case History – Were under instruction from many investors to continue to observe the market for potential investment properties. In January 2001 Persimmon Homes released the first batch of properties on the land behind Oxford Station and adjacent to the land that had been acquired by Oxford University to build their new post graduate facility. We believe this was an excellent long-term investment site and commenced purchasing plots on this site as soon as they became available in the process negotiating substantial discounts. The first properties were purchased for the sum of £122,000. We continued purchasing properties on this site for individual and commercial investors until Persimmon Homes completed the construction of the 87 flats in May 2002. At the end of construction we had negotiated the purchase of 49 of the flats, all of which are now fully let and managed by ourselves.

Update December 2003 – All properties we manage on this site are let at rent ranging from £800 - £1050 per calendar month. Work has commenced on phase 1 of the University Village complex adjacent to Chancellor Park, with completion of this phase due for completion June 2004; this phase includes a cycle and walkway link to Jericho. Property values have continued to increase on this development with the last flat changing hands for £200,000.

Future – As construction continues on the University Village, we see modest rent rises but continued capital growth on this site.

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CASE 2 - Maple Court Kidlington Oxford - 1999

Case History – We were experiencing a large demand and very little supply of 1 bedroom flats in and around the Oxford area. We negotiated a purchase of this property for £57,000 in March 1999 and took possession in May 1999. The flat was in reasonable condition but required decorating throughout and complete furnishing; this was arranged and carried out by our contractors. In June 1999 the work was completed and the flat was immediately let for £500 per calendar month.

Update December 2003 – The property has continued to be rented out and over the last four and a half years we have only lost five days rent. The present rent is £595.00 per calendar month and the value of the property is £125,000.

Future – We see continued capital growth and modest rent increases.

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CASE 3 - Wyvill Court Botley Road Oxford - 2003

Case History – Large Investment purchase. Wyvill Court is a prime corner development close to the city centre. The old building had been completely gutted and transformed into three flats, a large extension of a further three flats had been built on the side. We entered negotiations with the local developer and agreed a purchase price on behalf of our retained client of £1.6 million. Building work was completed in April 2003 and our internal fitting experts were then instructed to complete the furnishing and fitting out of the apartments.

Update December 2003 – All the six apartments were let from July 2003. The tenants were all delighted at the quality of the apartments and their luxury finish. The investment brings in a total rent of £9960.00 per calendar month.

Future – We see continued capital growth and modest rent rises.

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Robin (Director) 07714 708687 or email Robin@nops.co.uk

47 Walton Street, Oxford, OX2 6AD.
Tel:+44(0)1865 311745 - Fax:+44(0)1865 554395