At M A S O N S, we like to keep up to speed on new properties in the area, so we were delighted to pay a visit to Taylor Wimpey’s new Weston Gate development.
In Hitchin, Taylor Wimpey – the well-known, residential developer – has recently completed 28 new homes at Weston Gate. The developers have a long history of building high-quality homes across the UK (c.15,000 homes a year), so we were keen to see what Weston Gate has to offer – both to landlords seeking a new investment, and to future residents.
This is what we found…
Weston Gate is a modern development with 28 new homes, on Cambridge Road, Hitchin. The properties include 1- or 2-bedroom apartments and 3-bedroom terraced homes, all designed to suit modern lifestyles. It’s a small, private development, with a really great location – close to Hitchin town centre and just 0.7 miles from the train station and its direct services to London.
A good proportion of the properties have already been snapped up, leaving just 7 available for prospective buyers. These range from 2-bedroom/2-bathroom apartments (£350,000) to 3-bedroom end terrace properties (£550,000).
Why Weston Gate is great for landlords.
- Low maintenance: With a new build property you can expect fewer maintenance issues and costs than with older homes.
- Attractive to busy professionals/families: The modern design, amenities and location of this development are likely to attract young professionals or families who will make great tenants.
- Competitive mortgage rates: Taylor Wimpey’s Own New Scheme offers mortgage interest rates below 2.05%.
- Long-term capital appreciation: Hitchin’s ongoing developments, new bars, restaurants, high-quality schools, and regular events make it a promising location for long-term investment.
- Great return potential: We estimate that Weston Gate properties can realistically command a monthly rent of c.£1,500 – £1,600.
Let’s run the figures: purchasing plot 5 at £350,000 and expecting a rental income of c.£1,500 per month gives a potential gross rental yield of 5.14%. But, don’t forget there is an annual estate management fee of £1,597 to factor in – which reduces the potential net yield to 4.69%.
If you manage to achieve a monthly rent of £1,600, these figures rise to 5.49% (gross) and 5.03% (net).
Why Weston Gate is great for tenants.
- Shiny new homes: Be the first tenants to settle into and benefit from brand new contemporary features.
- White goods included: Each home includes a stylish integrated kitchen – providing brand new appliances.
- Top location: Head out the door and the train station is just a 15-minute walk away, and Hitchin’s attractive High Street is only 30-minutes on foot.
- Allocated parking: Allocated parking spaces are provided for each home, with access to EV charging.
- Local amenities: Enjoy the convenience of nearby amenities such as J’s Grill, Damascus Barbers, Days Bakery, and Cambridge Road Store.
- Fresh air: Embrace the great outdoors at nearby Purwell Meadows, The Millstream, and maybe stop for a spot of lunch at the popular The Anchor Inn.
- Schools: Hitchin has great schools and Weston Gate is close to Highover Primary School, Hitchin Boys’ and Girl’s Schools are in easy reach, as is North Hertfordshire College.
Interesting? We thought so…!
If our peek at Weston Gate has piqued your interest, and you’d like to view one of the remaining properties – we’d be happy to accompany you to advise further on potential rental income, the local area, or the optional extras on offer.
M A S O N S is a leading letting agent in Hitchin, covering rental and buy-to-let properties in Hertfordshire. Founded on award-winning lettings experience, we specialise in property management, buy-to-let in Hertfordshire, and residential lettings – drop us a line at [email protected] or call us on 01462 557477.
Please note: this article should not be interpreted as legal or financial advice.
