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Hello everyone. Eighteen minutes to London by train, and at prices from £275,000. Today, in St Albans, Forum House delivered in the building St Albans Square is what we are looking at today!
For prices, taxes and the whole buying process, see our guide: UK Property Guide
Apartment types, current price range and location: see the project page
St Albans Square comes from the conversion of a former office building into 63 apartments, in one of the most sought after commuter towns in England. The location is very close to St Albans Abbey station and within walking distance of the town centre. The scheme is planned for both long lets and short stays.
Prices
- Apartments: £275,000and up
- one and two bedroom options
- Apartment size: 50 m²and up
- Total 63 apartments
- Developer: Bunnywell Homes (Lanning Kuzdenyi and Partners)
- Address: 2 Abbey View, St Albans AL1 2PS
Bunnywell Homesis a company developing residential schemes in London, the South East and the Midlands. They work on the office to residential (permitted development) model, which brings a shorter delivery time than building from scratch and the advantage of a central location.
Why St Albans Square?
St Albans is one of the first choices for people who commute to London but do not want to pay the city’s prices. The area has shown strong capital growth over the past decade. £275,000 is an entry level that would be unthinkable for an apartment of the same size in London, and from here you board a train and are in the city in 18 minutes.
- St Albans Abbey station a minute’s walk away
- St Albans City about 18 minutes from the station to London St Pancras
- Direct Thameslink links towards the City, Gatwick and Brighton
- Quick access to the M1 and M25
- Luton Airport a short distance away
Daily life
The centre of St Albans has the fabric of a historic town: the cathedral, the market square and independent shops are all within walking distance. Verulamium Park offers a large green space inside the town. The quality of the schools is one of the main reasons families choose the area.
Rental yield and tenant profile
There are two separate tenant pools. The first is professionals commuting daily to London; the second is short stay guests coming to the area for work. Because the scheme is planned to suit both models, it gives the investor the flexibility to change strategy.
Communal areas and specification
- Modern interiors and high quality materials
- Functional layouts
- Shared living and social areas
- A work space for residents
- Secure access at the building entrance
- Walking distance to the town centre
Who is buying?
First time buyers who cannot reach a London budget, and investors who want to lift the yield through short lets. Because the entry level is low, it also suits anyone adding their first English property to a portfolio.
Total cost: what you actually pay when you buy at St Albans Square
The table below is indicative, based on a £275,000 entry price for a buyer not resident in the United Kingdom.
| Item | If it will be your only home | If it will be an additional home |
|---|---|---|
| Property price | £275,000 | £275,000 |
| Stamp duty (SDLT) | £9,250 | £23,000 |
| Legal fees | £1,500 to £3,000 | £1,500 to £3,000 |
| Searches and Land Registry fees | about £800 | about £800 |
| Approximate total | £287,300 | £301,050 |
With a mortgage there are valuation and bank charges, and if you let the property, management commission and income tax. For your own scenario, use our purchase cost calculator, for stamp duty stamp duty calculator and for rental income our rental income tax calculator.
What to Check Before You Decide
- In office to residential conversions the apartment dimensions and ceiling heights can differ from new build; study the plans carefully.
- Short letting is subject to local authority rules and to the building’s management plan. Confirm in the contract that it is permitted.
- Demand in commuter towns is sensitive to the cost of travelling into London; take fare rises into account.
- With smaller developers the delivery timetable can be less predictable than with the large brands.
How does St Albans Square compare with the alternatives?
- City Reach: the same commuter logic in Cambridge, in a completed scheme.
- One Trafford Edge: for anyone after a higher yield, in Manchester.
- Kidbrooke Village: for anyone who wants to stay inside London.
We can work out together which project fits your goal, judged on budget, intended use and exit plan. We can also set the commuter towns around London side by side on yield and distance.
Answers to the most common questions on this topic: Which UK Cities Have the Highest Rental Yields?
