Tuesday, 10 March 2015
Investment Spot of the Day
This is the first of our investment 'spots'. The purpose of this is to give Landlords and investors an indication of properties that we feel are worthy of further inspection since they are likely to make solid rental investments. The rental figures given are indicative, and are based on extensive experience of valuing thousands of properties over more than a decade locally as well as managing several properties broadly comparable to it.
For Sale through Miller Countrywide at £168,000
A hop skip and a jump from our offices and right opposite the park, if you bought this you could be one of our near neighbours!
This property has a pretty and distinctive façade. With gas fired central heating system modern bathroom and kitchen, 3 bedrooms and view over the garden towards the park as an investment property it has much to praise it.
I am pretty sure I saw this property many years ago before the improvements were made. Indeed I recall recommending the kitchen fitter who disappeared from finishing my kitchen to start on this. A story for another day perhaps!
We would need to view the property to nail down an exact rental figure but given the dimensions, park location and bedrooms we feel you should achieve in excess of £725 PCM
Assuming a conservative rental return of circa £725 PCM, this should achieve a gross return of £8700 Per annum. This equates to a gross return of 5.1% on investment.
Most observers would regard Kimberley Park Road as a good street to live. With average prices around this immediate area comfortably in excess of £300,000 this certainly bears this out. They say it is always a good idea to invest in one of the cheaper properties on the street since you tag along the coat tails of the more expensive ones. Certainly worth a look?