I found this modern purpose built apartment for under £100,000 and thought it would make a great buy to let investment.
This sort of apartment is perfect for any investors that want an easy life. With it being a new build maintenance should be to a minimum and finding tenants shouldn’t take long as new builds always rent quickly and this property is only a short walk to North Reddish train station. We have let an identical property in this block for £550 per calendar month but the market has improved in the last 12 months and I would therefore expect it to achieve £575 giving a yield of over 7%. Service charges and ground rent need to be taken in to consideration but assuming the charges are around £50 a month you would still be seeing a yield of over 6%. The property is on the market with Bridgfords and the details can be found on Rightmove using this link.
I saw this property come to market recently and thought it was worth putting it out there for all you potential landlords.
This house would make a fantastic first time investment for anyone considering getting in to the property market and would also be a good addition to any landlords with a portfolio. The property looks in reasonable condition and is in a good location. These sort of houses are the bread and butter in Reddish and always rent well. We have let properties on this street in the past and with a rental income of around £550 per calendar month you would see a yield of over 7%. The property is on the market with purple bricks, click on the below link for more information.
Another highly sought after apartment in the ever popular Victoria Mill located in the centre of Reddish. This converted Mill still demands high rents that continued to increase which makes this a fantastic buy at £89,950
These apartments are great for any investor that wants an easy life. The apartments are all modern and easy to maintain, there is also a concierge at the main entrance to help with any problems.
In the last 12 months alone we have seen rental prices in the Mill for a 1 bed duplex jump by as much as £75 per calendar month. This property in particular should rent for around £595 per calendar month which would be a yield of 8%. Service charges and ground rent come in at around £130 per month but even taking this in to account you would still be achieving a yield of up to 6.3%. The property is being marketed by John Mellor and the details can be found on Rightmove using this link.