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Hi everyone. I'm looking at buying a property in Crewe, refurbing to add value then plan to let it out. The properties I'm looking at are 3 beds within a 1 mile radius to the station. Also quite close to the Odeon and retail park. I just wondered if anyone else has any investment properties in Crewe? A lot of the adverts mention that they are perfect for HMO and I know there are quite a few big companies based in Crewe so I assume there is demand. As this is my first BTL I'd prefer my first not to be a HMO with the implications it comes with. Does anyone have any experience with the standard rental demand? 

I'm just a bit stuck with whether I'd struggle to let it out as a family house which is putting me off slightly. Any advice or tips welcome! 

Thanks,

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Have looked at Crewe in the past, as my wife works there so knows bits of it. The places that yielded as well as more local to us (Manchester) didn't look the best and the better areas didn't stack up brilliantly.

The Manchester university campus there closed down a couple of years back, which would have affected a lot of the letting opportunities. You've obviously got Bentley as an employer and they're unlikely to leave, but are they likely to grow?

On the plus side, there's an HS2 station going there. Whilst it'll create some construction jobs, I'm not sure how many it'll create longer term. It does speed access to London, although I'm not entirely convinced what difference that makes - would anyone live in Crewe and commute to London daily (or be able to afford the tickets?)

As with anywhere, do you know the area? Do you know what the demand is for different accommodation types? If not, doing some decent investigation into that will be important and a few hours wandering around any area you're considering is well worth it - there's only so much you can get from StreetView 

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Hello, 

I have 1 property in Crewe and know other people that also have property there. I am sure they would agree with me that demand is good. In ‘normal’ times you could go onto Rightmove and see that property to rent listing oldest first wasn’t very old, this indicates high demand as property didn’t hang around for long. My property (2 bed terraced) let in less than a week of being on the market a year ago. I don’t know anyone with HMO’s in Crewe, but as this is your first investment I would recommend a single let. Recent times have proved how solid and reliable an investment a good old fashioned BTL is. 
 

Best of luck, 

Tristan 

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Hi there

I am about to purchase a property in crewe with a look of refurbing and going down a Rent 2 Buy route. Anyhow I am from crewe originally and was schooled there so I can give some background to this along with knowledge of friends who have multi lets in crewe. 1st of all IMO the HMO market there is oversaturated, every man and his dog has gone into HMO's mostly congregating around the Ruskin Road, Walthall street area which consists over large Victorian, Edward style terraced villas with large rooms which can be easily made into 4/5 beds and picked up with little work for circa 100-120k. They are just not letting and friends of mine who have HMO's are selling or not getting into anymore, that horse has bolted not helped by the campus closing. 

However on the flip side the standard lets are in high demand, put a property on Open Rent and you will have it gone in a week or less. Rent is no to bad with small 2 bed terraced fetching 495 in ok condition and with more modern 2 beds in some area getting 595pcm. 

Bad areas, West street, Nantwich road (towards station end), Eddelston road and Side Roads of these streets, Also Leighton park Area with exception to new build estates, and timberel Avenue and smith grove are also very bad areas. 

 

Good Areas - Barrows green, Coppenhall, Remer Street, Large Areas of the sydeny estate, Wistaston, Hungerford road not bad,  Upper end of Broad Street ok, Mablins lane Area, Bradfield road isn't to bad either. 

There are some cheap houses to be had there, keep away from flats I have been tempted by some cracking new builds cicra 2006 builds which were sold for £120k new now transacting for 60k Mark, most have got maintence firms in running the blocks, bleeding them dry, one flat I looked at had a £125 per month maintenance charge. God knows what they were doing with the money but it was not maintained  as the place was in bad state for a 13 year old development. 

 

If you would like any pointers on area if you go to view anything, drop me a message be happy to assist

 

Lee

 

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1 hour ago, grant said:

Hi there

I am about to purchase a property in crewe with a look of refurbing and going down a Rent 2 Buy route. Anyhow I am from crewe originally and was schooled there so I can give some background to this along with knowledge of friends who have multi lets in crewe. 1st of all IMO the HMO market there is oversaturated, every man and his dog has gone into HMO's mostly congregating around the Ruskin Road, Walthall street area which consists over large Victorian, Edward style terraced villas with large rooms which can be easily made into 4/5 beds and picked up with little work for circa 100-120k. They are just not letting and friends of mine who have HMO's are selling or not getting into anymore, that horse has bolted not helped by the campus closing. 

However on the flip side the standard lets are in high demand, put a property on Open Rent and you will have it gone in a week or less. Rent is no to bad with small 2 bed terraced fetching 495 in ok condition and with more modern 2 beds in some area getting 595pcm. 

Bad areas, West street, Nantwich road (towards station end), Eddelston road and Side Roads of these streets, Also Leighton park Area with exception to new build estates, and timberel Avenue and smith grove are also very bad areas. 

 

Good Areas - Barrows green, Coppenhall, Remer Street, Large Areas of the sydeny estate, Wistaston, Hungerford road not bad,  Upper end of Broad Street ok, Mablins lane Area, Bradfield road isn't to bad either. 

There are some cheap houses to be had there, keep away from flats I have been tempted by some cracking new builds cicra 2006 builds which were sold for £120k new now transacting for 60k Mark, most have got maintence firms in running the blocks, bleeding them dry, one flat I looked at had a £125 per month maintenance charge. God knows what they were doing with the money but it was not maintained  as the place was in bad state for a 13 year old development. 

 

If you would like any pointers on area if you go to view anything, drop me a message be happy to assist

 

Lee

 

Hi Lee,

I am reading this thread just for knowledge and not looking in Crewe, but just want to tell you I think your post is extremely valuable for anyone interested in that area. Nice one! :)

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