Wednesday, 5 June 2013

Main (Main)

7.9% yield close to the University
 
 
Available for purchase through a local estate agent this 2 bedroom first floor apartment is on for just under £75,000.
It is close to the Engineering (East) side of the University Campus but the area is not 'student swamped' so would let well to either students or to private renters. It is likely to also appeal to mature overseas couples studying at the University or lecturing on a fixed term contract.
Most recently we rented an apartment almost the twin of this successfully for 3 years to a mature couple of post-grads from overseas and it proved an excellent let.
At an achievable rent of £495 pcm for this 2 bed, especially if you provide some kitchen appliances, this could achieve a 7.9% gross yield. Presented in a very contemporary way with IKEA type furniture you could almost certainly push that yield up and claim depreciation on the furnishings against tax aswell.
Service charges etc are cheap at circa £436 pa and the flat has a very long lease available.

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