Open weekend at Bicester development to help investors beat stamp duty increase
Posted 22 January 2016 by Keith Osborne
This weekend (23 and 24 January), developer Dorchester Living is inviting property investors to a special weekend at its Bicester scheme, Heyford Park, where buy-to-let purchasers can secure a property and beat the new stamp duty rate for investment and second homes.
With the Chancellor’s new stamp duty surcharge on secondary residential properties coming into force from April 2016, time is of the essence for investors wishing to avoid it. Investment transactions which complete by 1 April will not attract the additional 3% tax and local agents believe purchasers could also benefit from strong rental yields.
The event at Heyford Park, just six miles from the centre of Bicester, is a chance for experienced or new buy-to-let investors to look closely at the property options at the development and speak one-on-one to the Dorchester Living team and representatives from Oxford-based letting agents, Finders Keepers, who estimate yields of between 4.5% and 5.1% on homes there.
Dorchester Living’s head of sales, Jeanne Evett, says: “Savvy investors will be looking to make their acquisitions in advance of the April stamp duty changes. Heyford Park has been attracting buyers from all walks of life and Bicester is well positioned in the region for the rental market. The high quality of home and the offering of a ‘village’ lifestyle is expected to attract prime rental values.”
There will be nine two- and three-bedroom house types available to investors, including:
- The two-bedroom, 775 sq ft ‘Bretton’, from £267,995, expected to deliver a yield of 4.4% and a monthly rental income of around £1,000
- The three-bedroom, 857 sq ft ‘Lockwood’, from £294,995, expected to deliver a yield of 5.1% and a monthly rental income of £1,250
- The three-bedroom, 1,004 sq ft ‘Bennett’, from £324,995, expected to deliver a yield of 4.7% and a monthly rental income of £1,275
Heyford Park is taking shape on an expansive former military site, with over 700 new homes being built on 1,231 acres alongside a village green and a selection of amenities, including Heyford Park Free School, opened in 2013, a neighbourhood centre with shops and a pub, and sports pitches and facilities.
The new homes are situated 16 miles north of Oxford town centre and 3.5 miles to the south-west of Junction 10 of the M40. There are regular train services between Bicester Village and London Marylebone, with journey times of around 45 minutes.
Find out more at www.heyfordpark.co.uk ; 01869 238238