Property of the Month – June 2019
|City||Pandora Close Locks Heath Hampshire|
|Type of homes||Modern 3-bedroom town houses|
|No. of homes||4|
|Built||Completed in early 2016|
Why I like the Location?
Locks Heath is between Southampton and Fareham and has good accessibility to the wide ranging employment opportunities in and around Southampton, Portsmouth and along the M27 corridor. Road access is good and although not immediately accessible, Swanwick mainline station is a short drive or long walk. There are also bus services to Southampton, Portsmouth, Warsash and Gosport.
Once an agricultural and market garden area, Locks Heath is now built up with good open spaces and is close to the beaches of the Solent, now popular with growing families.
Shopping is based primarily in the Locks Heath Shopping Village, centred on a Waitrose and Iceland but with a good selection of independent retailers and a post office. Locks Heath Junior School is rated good by Offsted.
What I like about the properties?
Part of the Gallons Way development the Fund’s four assets each comprise a three bedroom town house on three floors, with dedicated parking at the rear. They form part of a terrace overlooking attractive public open space with mature trees and a children’s play area, which makes them ideal for families.
How has it gone so far?
As with much of the South Eastern Region capital values have not increased by much since they were acquired 3 years ago, but they have increased in value. On top of that, the properties also saw a growth in rents.
The houses are popular and have high occupancy and it is particularly pleasing that two of the four have been continuously occupied by the same tenants since purchase, and have been subject to annual rent reviews.
Alan Collett’s Blog
Alan is the Fund Manager of the TM home investor fund. As a Past President of the Royal Institution of Chartered Surveyors, he brings a lifetime of residential investment to Hearthstone. An experienced Chartered Surveyor and former Senior Partner of Allsop & Co, he has worked in all aspects of the acquisition, development, management and sale of residential and mixed use property. Furthermore, Alan is a member of the NHBC Council, and Chairman of the Hyde Housing Group which owns and manages 50,000 properties.