Jump to content

Investing in Crewe


Recommended Posts

Hello,

 

Wanted to get some advice / guidance in investing in Crewe. In light of the HS2, think this area will be on the up. With a budget of £80k was thinking of getting a 3 bed terrace or semi detached around the £130k mark with 25% deposit and £20k for renovations if required. Can anyone recommend specific areas which are good for rental demand? Would this budget allow me to do a HMO and is this recommended as a novice BTL landlord?

 

Thanks,

 

Steven

Link to post
  • 10 months later...

Sorry this is a bit of a late response. I have bought in Crewe and been visiting a number of properties. Leighton and Leighton Hospital has been recommended to me as have Nantwich Road and some of the roads coming off it e.g. Ruskin Road. Keen to discuss the area as I have spent a lot of time researching it! 

Link to post

Hi there, have been thinking about this area too as I spent four years there as a student a while back. Would you mind sharing the type of property you have already got there and what strategy you are following with it. E.g. is it an hmo or single let? Many thanks. Dave

 

Link to post

Of course. Its a three bed, family home (could be HMO). Rents for £525, paid £77k for it. About 8% yield which is what I look for in the area.

 

I've heard rumours the Uni is moving away from Crewe so HMO's may not be in demand.

 

I generally look to buy within a mile of the station and look for 2 and 3 beds. Have been tempted by flats but I cant see the appeal to tenants as they can get more space for not much more money by renting a house.

 

what's your strategy? Which areas do you favour?

Link to post
  • 1 month later...

Hi,

 

I've just seen this conversation.  I'm looking to invest in Crewe.  I've done a fair bit of research myself, it would be great to share our findings.

 

I'm looking for 2 or 3 bed in CW2, close to the station and Nantwich Rd.  Since your conversation I see that MMU is closing it's campus in Crewe.  At it's peak the campus had a student population of 6k, now it's nearer 2k.  This is a slight concern to me I have to say, not that I'm looking to let to students, but I can still see a drop in demand for rental properties and already I've seen a couple of large HMO's in Crewe come on to Rightmove, I wonder if we will see a few more over the coming months.  I'm hoping this doesn't see a decline in house prices.

 

Do either of you live near Crewe?

Link to post

Try and get down to http://crewepropertymeet.co.uk/

Regards Simon

Searchlight Finance Ltd

T:01565 654005

 

Landlord and specialist property finance advisor only dealing with investors, landlords and developers throughout the UK and beyond.

Buy to Let - Commercial Finance - Bridging Loans - Development Finance - HMO Finance - Refurbishment Loans - Multi Let - Limited Company - Student Lets - Portfolio Finance

Link to post

Hi there,

 

I don't live near Crewe, but I try to go up when I can to have a look at any properties that have caught my eye. I often try to look round the station area for 2 and 3 beds. I'm often put off the two beds due to the lay out (bathroom coming off one bedroom). Really I just look if the figures stack up and that its within approximately a mile of the station. I aim for the Ruskin road area, which is close to Nantwich road. Ideally I look for about 7-8%. I must admit I think Crewe is one for the long term investment (which suits me). Liverpool, Manchester and Birmingham are all pretty tempting and a bit closer but I feel Crewe is ever to get a handle of as its smaller! Interested to hear your thoughts. 

Link to post
  • 3 weeks later...

Hi,

 

Sorry for the delayed response.  I agree with everything you say.  I'm looking for 2 or 3 beds close to the station.  Ruskin Rd is one of the nicest roads I've seen.  I would like to own a house on that road or nearby.  Have you purchased any properties in Crewe yet?  I am yet to purchase any.  I have made offers on several properties but so far all have been rejected.  It's a struggle to find motivated sellers in Crewe, very few are interested in negotiating.  7-8% seems pretty good for Crewe, especially if you are looking at a house on Ruskin Rd.  When I run the figures on most potential purchases I'm looking at 6% net if I'm lucky.

Link to post
  • 5 weeks later...

Hi,

 

I have just exchanged on a 3 Bedroom End of Terrace in CW1 for 80k which had been repossessed, I plan to spend 15-20k on the refurbishment then refinance at 120k.

 

I am a bit worried about the time that it will take to let the property out but do feel that its a great long term investment given HS2.

 

I'll let you know how I get on.

Link to post

Hi James,

 

I have 3 companies visiting the property next week to quote me on the work then I will decide who to use dependent on availability and price of course.

 

I will let it as a single let as I am time poor.

 

Hopefully the work will be completed in 6-8 so that I can refinance and move onto my next venture.

 

Are you solely looking at Crewe?

 

 

Link to post

Hi there,

 

i think Crewe is a good investment (listen to 2017 predictions). However I think it is very much a long term investment as I'm not sure how quickly HS2 impact will start to be seen. 

 

Its got got all the fundamentals and is cheap. I walk round and I feel doubling property values in not unrealistic in the next 5-10 years.

Link to post

I'll be interested to hear how you get on with the refurb. I will probably need to get one done myself this year and will need a recommendation for decent trades people!

 

I am only looking at Crewe at the moment though I would also like to make some purchases in Liverpool. Are you just looking at Crewe?

Link to post

They are the areas I have been told about as well. However Ruskin Road area was described to me as being 'studenty'- can't say agree too much with this. Anyone got any thoughts on Queen Street, Richmond Road area?

 

The recent purchase was on Hope Street, a couple of streets along from Ruskin Road, if anyone has any opinions on that area.

 

Thanks  

Link to post
  • 2 months later...
  • 6 months later...

Hi all - I am looking at investing in Crewe for my first property and using the BRR model.  Will be difficult to manage the refurb from down South so I am interested to hear how this experience was for you, any tips you have and whether you have any recommendations for trades people?  Really value your thoughts. 

Link to post

Hi there Shaun. I did a very very light refurb which was then let out. I have found that Butters John Bee are very helpful and appear to be the market leader. I did most of the things myself and found that in around Crewe there is plenty of places for second hand appliances, builders merchants etc. The area I went for was near the station, which tends to be the sort of area I would go for. However I have been told that Haslington is the best area in Crewe, but a bit more pricey. I'm also pretty tempted by Leighton due to the hospital and Bentley been relatively close. The area I have tried to avoid is West Street- however this is not a million miles away from Leighton. I'm afraid I have forgotten the contact I had for servicing the boiler and the carpet fitter I used was on Mill Street (came out within a day)- I think there is only one on that street. 

Link to post

Very interesting topic. I did a long research on Crewe before even exchanged my first purchase last few weeks. I must say if you are looking for a quick turn, look else where as Crewe is for long term investors like me!. However, with or without HS2 rail, Crewe is going to be up and coming in say 5-10 years . My strategy is within max 1.5mile to the station and a 3 bed semi. Terrace in the area seems a bit off for me due to the lay out. Single let is the way forward as the uni is moving. You can also self manage from south with some emergency covers in place to deal with boiler's problem

Link to post
  • 1 month later...

Hi Guys,

 

I'm in the latter stages of a deal - can anyone shed some light on the area to the south end of Minhull New Road, close to the Bentley factory, clearly it has the employment attributes with Bentley and Leighton hospital nearby. On Google Street View the area looks quite tidy, decent cars parked up. Schools are variable but are in the catchment of some decent ones. 

 

Any recommendations as if it'd a decent area.

 

Thanks,

Tom

Link to post

Hi Tom, 

 

Do you mean the area close to the roundabout by the old Co-op/now McColls? Or even further south towards West Street?

 

I'm in Haslington and have lived in or around the area for half my life so am happy to help with recommendations. 

Link to post

Create an account or sign in to comment

You need to be a member in order to leave a comment

Create an account

Sign up for a new account in our community. It's easy!

Register a new account

Sign in

Already have an account? Sign in here.

Sign In Now
×
×
  • Create New...