COMING UP! 2 Bed Refurb in Town Centre, £105k Freehold

ADDED VALUE OPPORTUNITY : 2 BED HOUSE, CLARE STREET, THE MOUNTS, NORTHAMPTON, NN1

*We'll be taking this on in the next week or so and are emailing investors PRIOR to advertising. *

This house is in poor condition and some work doing - we haven't had an exact quote but would be around £10-12k. It's the sort of thing we'll turn round in about 6 weeks.

Once finished it's worth £130,000 and will rent for easily £600 PCM. It's going to be coming on the market at about £105,000 and will sell for very close to that.

Clearly it's a great buy for someone - but I understand these things are not for everyone (although I don't understand why!). If you're interested, please get in touch prior to advertising. richard.baker@belvoir.co.uk

NEW BUILD FLATS, Sensible Prices, Everything Guaranteed

THESE FLATS SOLD OUT IN THE FIRST 24 HOURS OF VIEWINGS. WE'RE EXPECTING A FURTHER RELEASE SOON. CONTACT US TO REGISTER DETAILS.

I've been talking to a PLC builder for a while about a small development they are undertaking close to the town centre - it's at NN4 8EL. We're now at the point of apartments being released and it's looking quite good from an investment perspective - prices are very good for new build. Basic details are:

1. a range of 2 bed apartments, with parking, priced from £120k to £132k.
2. will rent at £650PCM, or take £15,000 guaranteed for the first 2 years.
3. leasehold - 999 years on the lease. Service charge and ground rent under £1000 per annum. 
4. supplied TENANT READY - by negotiation - nothing you'd need to add yourself.
5. 10 year NHBC RENTAL GUARANTEE plus 2 year builders guarantee
6. 2 year RENTAL GUARANTEE from this agency for all managed landlords - reflecting that we're confident(!), and these units will rent well.

What type of investment is this? 

If you're after something that's low risk and low maintenance, these are ideal. They are sensibly priced, will rent easily and consistently apart from a gas test in year 2). They are available tenant ready, so no need for you to add anything such as carpets and curtains. 

The Apartments

Typical Layout

They are nice! Good sizes. Good spec. Two double bedrooms. Typical layout as follows:

Kitchen: 3.475m x 1.990m
Lounge: 4.575m x 3.475m
Master Bedroom: 3.980m x 2.680m
Bedroom 2: 3.360m x 2.750m

Our Verdict
This Bellway development at Lockside is a classic example of a low hassle ‘safe’ investment if that is your preference. What you’re buying is in excellent order (it’s brand new!), will attract good quality tenants, will enjoy minimal void periods, and for the first few years should be pretty much maintenance free. With the new university going in on the doorstep, and a 999 year lease, the potential for capital appreciation looks good too. If you're the type of investor that says "I just want something that will cause me as little bother as possible" (and I get quite a few!) - you need to ask yourself what is lower hassle than this!

What next?

These aren't built yet and aren't viewable. You can walk past the site now and see them being built. We have some plans, and once the roof goes on there should be something to walk round in the next month or so. But this isn't the sort of property where you need to visit to see - it's a standard modern apartment - you're buying the bricks. As with all new build sites, we expect prices to go UP as the build continues - so if you're interested get in quickly at the start. 

All enquiries must come through us on this development.

01604 626626
northampton@belvoir.co.uk
Speak to Richard or Charlotte

SOLD : Standens Barn 3 bed

ADDED VALUE OPPORTUNITY : 3 BED HOUSE, FLAXWELL COURT, STANDENS BARN

*We'll be taking this on in the next couple of days and are emailing investors PRIOR to advertising. *

This house is in poor condition and needs a lot of work doing - we can arrange and have a fixed price of £12,000 which may have VAT on top.

Works will include complete redecoration, a new kitchen, and improved bathroom, a new boiler, UPVC repairs, numerous odd jobs, new flooring, clearance. It's the sort of thing we'll turn round in about 6 weeks.

Once finished it's worth easily £125,000 and will rent for easily £625.

It's going to be coming on the market at about £105,000 and will sell for very close to that - please don't waste our time with silly offers!

Clearly it's a great buy for someone - but I understand these things are not for everyone (although I don't understand why!). If you're interested, please get in touch prior to advertising. richard.baker@belvoir.co.uk

BUYING OPTIONS, week ending 20 Feb 2014.

I Spy..... A few things have caught our eye this week, and all less than £120k which is unusual. As ever it's going to be a case of calling the agents involved and seeing if there's anything left - the market remains feisty(!) so a lot of deals will have been done already. We've spotted..............

http://www.rightmove.co.uk/property-for-sale/property-33497247.html 

£70,000 - A good budget option - this will rent for £430 at least to a working tenant - a return of over 7%.

http://www.rightmove.co.uk/property-for-sale/property-47938198.html

£75,000 - These things are always popular and will rent for at least £500 in good order. It's in an excellent location too - the catch is it's off to auction so the suggested price of £75k (a bargain) could end up being much higher.

http://www.rightmove.co.uk/property-for-sale/property-48061357.html

£84,000 - This has been around for a couple of weeks, is in immaculate condition and will tenant quickly at £550PCM. I'm guessing some people are put off by the area - they needn't be - you'll rent this and get a return of over 8%. 

http://www.rightmove.co.uk/property-for-sale/property-50601224.html

£105,000 - A very good area - will rent for minimum £525PCM and is ideal if you're bothered about WHERE you invest.

http://www.rightmove.co.uk/property-for-sale/property-47604769.html

£110,000 - A wildcard! This is freehold, brand new, and I understand there may be some movement in the price. I'm seeing it later today, but there should be no problem at £500PCM so the return will be pretty good. UPDATE : Been there, seen it, not bowled over!

http://www.rightmove.co.uk/property-for-sale/property-47079817.html

£115,000 - Again this has been around a while. I think it's a repossession and I'm not sure why it hasn't sold. One of the best areas of town, and an easy £600 in rent means this is a bargain as long as the service charge is sensible. 

Any queries on any of these, please get in touch.

2 Bed Apartment with Terrace at Centro £112k

These are popular flats in a block popular with tenants so be quick on this one! One of only 4 in the whole block with it's own private terrace and already tenanted at £625 PCM. With returns of over 6% this is a great investment and definitely worth considering. We manage a number of units in this building and can provide rental history since 2008 for this particular apartment.

Any queries please get in touch ASAP before we advertise on the open market and it's snapped up!

Hospital Conversion with Tenant in Situ @ £650 PCM

This stunning 2 bedroom hospital conversion is coming on the market at 'Offers in Excess of £140,000' with a tenant in situ paying £650 PCM. With returns of around 5% this isn't a bad bet for those of you who prefer the safer end of the market. Tenant quality is always high in St Crispins and void periods are minimal.

Please get in contact if you're interested.

2 Bed Leasehold in Daventry @ £100k with Quality Tenant in Situ

We've just taken on this modern 2 bedroom flat in Daventry, with a nice quality tenant in situ paying £535 PCM. Priced at £99,995 it offers an annual return on investment of around 6%.

Full details can be found on this link: http://www.rightmove.co.uk/property-for-sale/property-33476268.html

Call 01604 626 626 for more information or to arrange a viewing.

FEELING THE PRESSURE? Many properties selling within hours.

With an increasing number of people looking to invest, and rising prices meaning there's increasingly little around for under £130,000, we are noticing that investors are being afforded practically ZERO time to make a decision regarding purchase. 

In the past week, I've been tipped off about 2 decent buys, both under £120k. I've been to see them on the same day, then contacted a couple of buyers who I thought would be interested and discussed them. 24 hours later, both were sold and the buyers missed out. Neither property was an outright bargain, but both were priced realistically and sensibly - not over-valued. 
It's fairly clear that some estate agents are encouraging this behaviour. In a competitive marketplace, agents are under pressure for fees and I know a number locally are having to "go lower than they want to" in order to win business. With a long list of buyers it's then easier for them to get 3 or 4 people round there quickly, get an asking price offer (or higher) and move onto the next one. It seems that's how things sit with the property market currently!
This sort of pressure puts some buyers off. I spoke at length to one investor on the phone this weekend who wanted more time to think about big purchasing decisions and for that reason wasn't going to bother looking for the moment. He said look again when things had calmed down. I completely understand his reasoning - if I'm not 100% sure of what I'm buying and people start pressuring me into committing, I back off. It's human nature.
The solution is to know your stuff - it emphasises the need to do your homework. If you're clear about what you want, and follow the market carefully, you'll then have the confidence to snap it up when you see it. For instance I know a really nice 2 bed in Semilong will sell for £125k in the current market - so if I'm on my way to see one that's on at £118k, I know it's on the money and unless there's a major problem with it, I need to offer on it. If you've 'studied the form', you will know this too which will mean you won't delay and lose out. If you don't have this confidence, buying property at the moment can be a frustrating experience as there's little time to decide!