City Centre Flat?

kayum91

Hi I am looking to purchase a flat in Welwyn Garden City Centre, it has no allocated parking with the flat but there is parking outside the property (free after 6pm) which is fine for me due to work. There is also a car park 2mins walk where you can get season pass for £800 which allows 24/7 parking.The location of the property is bang in the centre and 2min walk to station which goes direct to St Pancreas within 20 mins. Do you think this would be good purchase/ investment? I am looking to live at the property for 5 years and then rent it out or sell it..

Slithery

That all depends on how much you pay for it.

Property link please?

kayum91

295k, 2 bedroom, top floor apartment. It is fairly new built.
I cannot get a link as they have taken it off the market.
I'm just wondering if a city centre flat without parking will be in demand even though its a 5min walk to the train station.

silvercar

Some will be happy to buy without parking. I would have thought that does limit your re-sale options. WGC is small enough that you don't need a car within the town and commuting to London is fine, but if you want to explore the rest of Hertfordshire, a car is more essential.

Cakeguts

For rental no. With two bedrooms it will almost certainly be let to a couple or two people sharing who will both have cars. So no parking will put most tenants off.


This is the problem with trying to let a property that you have bought to live in. As an owner you are prepared to compromise on things like parking but a tenant won't they will just look for a different flat.

steampowered

Personally, I would not need access to parking for a flat in central London, but I would definitely want parking for a flat in WGC.

It depends whether the lack of parking is already taken into account in the price you are paying.

If the price you are paying now is fair, the property should hold its value ... if you are overpaying compared to other comparable properties in the area, it won't.

Looby_Lou

WGC is due to have a lot of new houses/flats built on what was the Shredded Wheat factory. Is your flat likely to be affected by that? The parking would be an issue for me, the parking wardens go around regularly so if you park outside there is a high chance of a ticket, maybe ok when you are working but if you are home ill or on holiday it would be a pain.

kayum91

Yes they are building new builds at the old shreddies factory, I have looked at them and they come with 1 allocated parking spot but the flats are on the smaller side for the same price.

kayum91

There is parking just not allocated, the seller has given me 3 years parking at a nearby carpark (1min walk). I do like the location cause its in the heart of centre but is it a good investment.

AdrianC

WGC isn't a city. The name is a lie.

kayum91

Anyone from WGC here? I live in St Albans currently and getting a decent two bed flat here your looking at 330-350k. My max budget is 300k, looking at hatfield and hemel aswel