SOLD 7.5% return on £105,000, Leasehold

The market paused for breath in June - election uncertainty had us worried for a short while but it seems that buyer interest has returned at what is traditionally a quiet time of year. If you look back at these blog pages over recent weeks you'll see that whilst there haven't been a load of purchasing suggestions everything that's been decent has sold. I've also spoken to more new investors in July than in any other month this year - and I've been away for a week!
So here's an interesting one for someone - a 3 bed ex Local Authority apartment which will cost you £105,000 and will rent for £650PCM. It's ready to rent - newly decorated and carpeted - so there's nothing major to factor in at the start. It's in Eastfields, NN3.
There will be a lease but the freeholder is the Local Authority so the costs are generally reasonable. Figures need confirming exactly but we believe total annual costs are about £750 and the lease remaining is about 100 years.
It's not on the market yet but soon will be. We're expecting it to sell very close to asking price as it's well priced to start off with - there are numerous 1 & 2 beds advertised at more money than this. richard.baker@belvoir.co.uk for further details.