An opportunity here that's open to those who use Belvoir's managed service only (with the vendor's approval).
This is a tenanted 2 bed apartment in Far Cotton, being sold with tenant in situ. Key figures are:
This is a tenanted 2 bed apartment in Far Cotton, being sold with tenant in situ. Key figures are:
- £127,500 fixed price
- 115 years on the lease
- Total annual service charges and ground rent are £920.
- Tenant paying £640PCM.
- Return of 6% before, and 5.3% after charges
This is a block that rents really well and has done for the 10 years we've had it under management. Void periods are almost zero. The asking price of £127,500 is fixed, but reasonable. Have a look at what other 2 bed apartments you can buy for less than £130k and you'll find it's mainly ex-local authority stock, blocks in the town centre with 'problems' or blocks where the service charge is high.
This flat suffers from none of those drawbacks - it's a modern, well presented unit with a decent lease length and a moderate service charge - if modern flats is what you're after I don't think you'll find one that's better value - by all means check Zoopla and tell me what you find!
This isn't formally advertised and in the short term isn't going to be. Enquiries to me direct - richard.baker@belvoir.co.uk
