BUY TO LET IN NORTHAMPTON

Saturday 30 January 2016

SOLD St James, Well Presented 2 Bed House, £145,000 / £675 rent

About to come to the market is this 2 bed house in St James - very well presented and ready for a tenant to move in. We'll get £675 in rent for it in the current market and the asking price will be £145,000. It's not advertised on property portals yet but will be later in the week, so there's an opportunity to jump in there before if this is of interest.
The vendor is aware of the changes to stamp duty from 31 March, has appointed a conveyancer already and will do what he can to make sure the transaction completes before then.
richard.baker@belvoir.co.uk if you have queries or if you want to view.

There's a good rental history with this one - it was one of the first properties I took on when I opened the business nearly 10 years ago, and it's been tenanted pretty constantly ever since. The owner has improved it - a new bathroom has gone in during the last 3 years and a new kitchen is just being finished now - so there's nothing immediate for a purchaser to do.

TIP OFFS - COMING TO THE MARKET THIS WEEK

A little birdie has told me the following are coming to the market this week! Before they do, and bearing in mind everything sells in 5 minutes at the moment, there may be an opportunity to jump in.

Alvis Court, Rectory Farm, NN3

A 3 bed house which will look something like the attached. Should rent for about £700. Coming to the market at offers over £160,000

St James Park Road, NN5

A 2 bed Victorian terrace which unusually benefits from a garage. Expecting this to be worth £145,000 which will rent for at least £675. It will be similar to the one pictured.

Viewing arrangements TBC but you’re going to need to be available quickly!

richard.baker@belvoir.co.uk if you’re interested.

PREMIUM POSTCODE, 1 bed apartment, excellent rental history

A slightly unusual one here which will appeal to people who only buy at the very top end in terms of area – and who are interested in the potential for appreciation more than monthly return. This is a 1 bed apartment in a gated development on The Avenue, Dallington – generally considered to be one of the most upmarket roads in the town. It’s in a building that contains 10 apartments set around a garden area and is maintained to a high standard. Most residents are owners although it’s not a retirement development, that’s the age range it attracts. The building has a secure car park for residents use. The flat is first floor with its own private entrance.

We’ve had the property rented for 7 years at around the £600 per month mark – it’s got some basic furnishings in it such as bed and sofa – and has tended to attract contractors who are in the area for work and want to live somewhere a little more select than usual. Void periods over 7 years are negligible.

Key figures are:

Asking Price	£129,995
Lease Length	110 years
Annual Charges	£1200 per annum
Rental Potential (furnished)	£625.00

Works required are negligible – I’d stick a new front door on it, but that’s just me!

If you’re interested, please pop me an email. The property is empty and available to view without delay. richard.baker@belvoir.co.uk

3 bed FREEHOLD @ £130k, 6%+ Returns

I have been tipped off about this three bedroom property which is about to hit the market (similar to the one shown in picture). It's in Goldings, NN3 - rentable but not la creme de la creme in terms of areas - but then it's £130k for a 3 bed!

I'm told it's in good order and there's an asking price of £129,995. They may get that - they'll certainly get very close to it. It's rented at £675 PCM offering returns of around 6.2%

All interested parties please get in contact via e-mail. richard.baker@belvoir.co.uk

SOLD 2 bed freehold, £140,000 - £650 rent

I’m seeing a 2 bed house later today that has 12 viewings on it after only 3 hours of advertising – that’s where things are in January 2015. I’ve got a decent relationship with the agent so there’s a chance (and it’s only a chance!) that I may be able to get this one for asking price £140,000 for one of my investors. It seems to be in good order with minimal works required and will rent for at least £650.

Interested? Contact me for more details quickly please richard.baker@belvoir.co.uk. Details are obviously sketchy on this blog, but contact me and I can give you a bit more.

Unless you’re around later today at 4pm, it will be one that you’ll need to offer on ‘blind’ based on my assessment of the property. Clearly this doesn’t commit you to purchase if there turn out to be issues with the property, but it does at least get the property off the market and allow a bit of thinking time. If you’re not comfortable with this, it’s probably not the one for you!

SOLD CORE ABINGTON, 2 bed house with garage

There’s always a lot of interest when the word Abington is mentioned and it should be no different with this 2 bed Victorian Terrace. Unusually, this one has a garage which is an added bonus in this area. It’s off Monks Park Road, NN1 and is in very good order internally – ready to rent for min £700PCM. It’s to be marketed at £160k, but I understand there may be a small amount of movement if someone can move quickly with cash – the vendor wants another property and needs to sell this one first – scared he’s going to lose his purchase!

richard.baker@belvoir.co.uk if you’re interested. Pictures will be posted when available. I spoke to another agent just now who advertised a 2 bed house in St James yesterday and had 22 viewings booked so far – so don’t leave it too long if you’re seriously interested! The plan hopefully will be to find a buyer without formal marketing.