Colliers Wood is embarking on a multi million pound journey of regeneration with huge investment pouring in from developers and central government.
Over 500 new properties will be built in exciting developments over the next 18 months. A new piazza in the centre of the town will transform the area.
Colliers Wood, which benefits from attractive parks and the River Wandle, also has the Northern Line Underground Station, which has plans to be a 24 hour service, connecting you within 20 minutes to Waterloo Station.
Sean Purtill, Managing Director of Ellisons Estate Agents, who are opening a new office in a great location next to the tube station on the 1st March said “this is the beginning of a real transformation and will improve the quality of living for people in the area”
The area fits in perfectly with their other offices in Wimbledon, Morden and Raynes Park.
The new Ellisons Colliers Wood office will offer sales and lettings as well as financial services, conveyancing, land and new homes.
Harrie Vischjager, the Branch Manager, stated “we are all really excited and look forward to offering our award winning customer services to everyone in Colliers Wood”.
For property advice in Colliers Wood phone 0208 544 0518.
With the recent announcement of 3% increases to the stamp duty rates payable on new buy to let purchases and second properties, landlords are going to have to pay a higher amount on stamp duty from this April. For example the tax bill on a buy to let worth £250,000 is currently £2,500, but from April this increases to £10,000.
Value of second Current stamp Stamp duty from Increase in
property duty 1st April 2016 Tax
£150,000 £500 £5,000 +£4,500
£250,000 £2,500 £10,000 +£7,500
£350,000 £7,500 £18,000 +10,500
£450,000 £12,500 £26,000 +£13,500
Landlords looking at the long term will realise buy to let is still the way to go for a good investment. Rents are still strong with void periods rare and recently, properties in the Merton area have been increasing in price.
Ellisons sales records show in the last 5 years properties (property prices) have increased by an average of 40%.
With this trend most likely to continue, the sound investor will know, that although the initial outlay to purchase is higher, with anticipated capital growth taken into account, the extra stamp duty will definitely be worth while!
For further advice on buy to let contact our lettings department on 0208 944 8626.