This has appeared in the last 24 hours, and I actually own an upstairs apartment in the same block, so I know the building well. It's a good cheap option if funds are limited!
GET IT HERE
http://www.rightmove.co.uk/property-for-sale/property-50337073.html
Basics are:
GET IT HERE
http://www.rightmove.co.uk/property-for-sale/property-50337073.html
Basics are:
- a studio apartment in Manorfield Close, Little Billing advertised at £66k.
- it will rent, privately, for £400 per month - the same as mine - to a private (working) tenant, so that's an initial return of over 7%. This will be more if you can get the asking price down a little bit!
- it may need some improvement, but these places are tiny so it doesn't usually cost much.
- the lease is fairly short on mine (about 80 years) so I'm guessing this will be as well. I plan to extend mine soon which will cost up to £5k, so again that needs factoring into the asking price.
- Service charges and ground rent are negligable - about £200 - £300 per annum from memory. Owners tend to look after their own properties down there with minimal management company involvement.
Interested parties drop me an email to richard.baker@belvoir.co.uk
