6%+ for £90,000 in Shakespeare Gardens, Rugby

We’ve just been instructed on this 1 bed apartment in Shakespeare Gardens which comes ready tenanted – paying £495 per month. 

Advertised at £89.995 this is an easy investment for someone – a modern property with a lease of over 140 years and service charge of around £1100 PA, situated in an area that rents really well and which will attract good quality tenants. 

A modern ground floor 1 bedroom flat located in the popular residential area of Bilton. Property comprises of an entrance hall, lounge/dining room with kitchen, 1 double bedroom and a bathroom with shower. The property is neutrally decorated and benefits from double glazing throughout and electric heating. Secure parking to the rear, communal gardens and intercom door entry. 

The property is well located for local convenience stores and is within close proximity of bus routes. Appliances: Oven and hob, washer/dryer.

We have block viewing availability this weekend, so contact us if you wish to be included!

Upmarket 2 Bed Duplex, £130k, Tenanted @ £625, 5.7% Returns

We're just about to be instructed on this 2 bed split level apartment in Kingsthorpe, which we've rented out for the last couple of years. It will be a sale with the tenant (and furniture) in situ - currently paying £625, but this will increase to at least £650 if required. Lease of 120 years and total charges of £1200 per annum.

It's in a nice development just north of Kingsthorpe Village - a good area and quite a small development, so a little more 'select' than many modern apartments. 

Interested parties please get in touch before this goes out to the whole market. richard.baker@belvoir.co.uk 

Far Cotton 2 Bed - £650 PCM rental potential

To continue our week of decent value I've seen this  2 bed Victorian terrace in Far Cotton earlier today. It's not perfect but is in generally good order throughout - needs a couple of windows (£500?) but apart from that there's no visible expenditure required on major items. 

We'd rent this for £650 PCM in the current market without any trouble at all. It's about to come on the market at £140k, I understand offers around low to mid £130s may be accepted. You'll see really nice ones in this area going for £145k at the moment so this will sell quickly and is reasonably well priced.

Interested parties please get in touch ASAP: richard.baker@belvoirlettings.com 

2 Bed Freehold House, Bargain at under 120K

Been tipped off about this one today- 2 Bed house in Chedworth Close, Ecton Brook that's an ideal investment and is going to sell at somewhere between £115-120K. It will rent for £600pcm to a decent quality tenant.

I visited the property today, it's in a very good condition throughout with the exception of the kitchen, which in the ideal world you would probably replace (we can easily sort this for you).

I attach some photos below but didn't have a proper camera with me today- so these aren't great.

This is going to sell really quickly so get in touch with me immediately- Richard.baker@belvoir.co.uk  We are booking viewings for Friday, but if you are not around this maybe one to consider offering on blind!

Strangely Good Value in St James, £120k, £650 rent

3 bed freehold house

Unsure if there's a catch, but the following has appeared on Rightmove and looks good value. Decent area - very lettable for at least £650 - looks as though it only requires cosmetic stuff such as decor. It's certainly cheap, so I'd want to make sure there isn't a crack in the back wall(!), but assuming it's as genuine as it seems it's one to buy today. (note the 1 bed house from yesterday is gone already).

http://www.rightmove.co.uk/property-for-sale/property-46165829.html

SOLD SAME DAY, £95,000 - min £475 rent = over 6% return

Longford Avenue, NN3

We've just been tipped off by an estate agent that another one of these is about to come onto the market. Always popular with investors as it's a freehold purchase in a decent area for less than £100k which is more or less impossible at the moment. The last one sold the same day, so please be really quick if interested - if you're not based in Northampton and want me to view it for you I'll have some time this afternoon.

email richard.baker@belvoir.co.uk if interested. 

This is the type of thing we're talking about, but I don't have pictures of the exact place. Tiny, but very popular with renters. 

University of Northampton & The Far Cotton 'Boom'

Over recent months, house prices in Far Cotton, NN4 seem to have risen faster than anywhere else in town - a top end 2 bed Victorian Terrace has moved from about £115,000 to about £140,000 - and prices still seem to be rising. Of course the market has risen generally, but not at these levels - so what's so special about Far Cotton?

The answer is Northampton University. The campus is currently a couple of miles north of the town centre, but will relocate in the next few years to a brownfield site in the town centre that borders Far Cotton. Many landlords are onto this, and have been buying up Victorian terraces in Far Cotton with the intention of converting them to multi-let in the coming years. Amazingly the one area of town that Northampton BC have not placed restrictions on regarding multi-let, is the one area of town where multi-let is most likely to happen - Far Cotton - but I guess that's Council logic. 
So does this mean Far Cotton is a good buy? If you're an investor who fancies multi-let, only time will tell. You may have missed the boat! The University is certainly coming, but what effect that will have on the local property market (long term) remains to be seen - let's not forget there are hundreds of luxury modern student rooms popping up around town too. It's hard to see how Far Cotton could perform WORSE than other areas of Northampton though - simple supply / demand / incoming investment should mean this is an area on the rise, not on the fall.