The new year has seen some fresh impetus in the buy to let market with renewed interest from investors - clearly people have been doing their sums over the Christmas break! We're also aware from conversations other estate agents that at the lower end of the market - maybe £140k and below - a lot of stuff is selling without advertising. So whilst I say on this blog that there's not much around, what I really mean is there's not much that's making it as far as Zoopla.
One thing that will be coming on the market very soon is this flat close to the town centre and about 300m from the general hospital. It's a converted Victorian terrace, so unlike its more modern equivalents the management arrangements are more informal and the service charges are greatly reduced. We are advised there's a lease of 97 years, and service charges are only £50 per annum. I'm guessing there must be a little more than this as £50 wouldn't cover the buildings insurance - but this is certainly one of those split Victorian properties where lease charges are going to be nominal.
The property is in good order and should rent for at least £575PCM. It's very rentable due to location and condition - void periods for smaller units in this area are almost zero over the last 5 years. At an asking price of £117,500 that's around 6% return which is good considering that it will hardly be reduced at all by lease charges.
No pictures yet - you'll have to trust me that internally it's in good order!
This will be advertised, but not until early next week. Viewings will be through ourselves, so please contact richard.baker@belvoir.co.uk quickly if you're keen to have a look (or just buy it!).
The property is in good order and should rent for at least £575PCM. It's very rentable due to location and condition - void periods for smaller units in this area are almost zero over the last 5 years. At an asking price of £117,500 that's around 6% return which is good considering that it will hardly be reduced at all by lease charges.
No pictures yet - you'll have to trust me that internally it's in good order!
This will be advertised, but not until early next week. Viewings will be through ourselves, so please contact richard.baker@belvoir.co.uk quickly if you're keen to have a look (or just buy it!).
