If you're investing for INCOME this is an ideal opportunity, as it offers an inital return of over 9% AFTER service charges. AND the purchase price is £55,000. MUST BE CASH.
It's an apartment in Northampton House, right in the middle of town (there are actually 4 available in total) which come already furnished and tenanted to decent PRIVATE tenants. There's a big balcony, allocated parking for 1, and a lease of 110 years.
PROs.
It's an apartment in Northampton House, right in the middle of town (there are actually 4 available in total) which come already furnished and tenanted to decent PRIVATE tenants. There's a big balcony, allocated parking for 1, and a lease of 110 years.
PROs.
- Central Location
- Already Tenanted at £550PCM
- Very rentable to private (decent quality) tenants
- Void periods over 5 years almost nothing.
- Great return on investment
- 110 year lease.
- They've just blown up the bus station, so you don't need to look at it any more!
CONs.
- High-ish service charge (but still over 9% after this is factored in)
- Not mortgageable - needs to be a cash purchase.
richard.baker@belvoir.co.uk (as ever) for any queries.
