Tuesday, 5 July 2016
POST BREXIT FLURRY : £77,500 for a tenanted apartment
I’m spoiling you now!
After a couple of weeks of uncertainly, we now have 2 good deals in the space
of a day. The second is a 1 bed apartment, tenanted successfully at £500 per
month, right in middle of the town centre – extremely lettable. The vendor is
looking for £80,000 but I suspect there may be a little bit of give if the new
purchaser is an investor – hence the quoted price of £77,500.
The
service charge on it isn’t the cheapest - £150 a month – but it’s still over 5%
return after the service charge has been calculated – so someone on a budget
will still snap this up as it’s a nice place in a plum location. It’s on Sheep
Street – right next to the bus station and less than 5 minutes walk from the
main railway station.
A
quick search of the internet for mortgages suggest you could get a 5 year fixed
rate, borrowing 75% for £100 per month (2 years) or £150 per month (5 years).
Pictures
again below. Please get in touch quickly please if interested – richard.baker@belvoir.co.uk
SOLD POST BREXIT TREAT : Freehold for £110,000
As
half the UK contemplates if things will ever be the same again, a decent
FREEHOLD opportunity has popped up for those of you who take the view that
supply far outweighs demand so houses remain a safe bet.
This
is a 1 bed cluster on FARNDON CLOSE which will be available soon with an asking
price of £112,500. The owner, who needs to sell for business reasons, has told
me to get £110,000 for it – and with plenty of comparable properties listed for
between £115,000 and £120,000 there shouldn’t be much of an issue with that.
It
will rent for £500PCM – these things are VERY rentable - offering a headline
return of 5.4% - which in this market and in this price bracket isn’t half bad!
It’s tenanted currently – but the tenant isn’t the best so it will be sold with
vacant possession and ready to let upon completion.
A
few pictures below for you. Interested parties, please get in touch with me
without delay richard.baker@belvoir.co.uk
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