Monday 31 March 2014

Two Bedroom Flat in Farringdon (9.5% Gross Yield)

This two bedroom ground floor flat will appeal to a wide range of potential tenants, from young professionals & couples to older tenants looking at downsizing

Sunderland Property Blog
It's on the market for sale at £45,000 - even building in a further £5k for improvements (decoration, flooring, oven & hob, shower) will deliver at least 9.5% Gross Yield based on an achievable £395 - £425pcm rent

Call us on 0191 567 8577 or email neil.whitfield@belvoirlettings.com for more information

Friday 28 March 2014

Tenanted Apartment Under Our Full Management (7.7% Gross Yield)

One of our landlords is looking to release funds through the sale of this attractive 1 bedroom apartment which we Fully Manage 

We've a professional tenant paying £550pcm on an AST until July 2014 but beyond that the apartment will be popular - in our experience the Bonners Raff development always is 
Sunderland Property Blog
Based on the £550pcm and the £84,750 that landlord is looking for (including all fixtures & fittings), this investment will deliver 7.8% Gross Yield

Call us on 0191 567 8577 or email neil.whitfield@belvoirlettings.com for more information

River View Apartment (8.1% Gross Yield)

We manage a number of apartments in River View and they're easy to rent, being popular with both professionals and students

Sunderland Property Blog
This 2 bedroom, 5th floor apartment is for sale at £69,950 and £495pcm is the going rate, so will return 8.1% Gross Yield (I've allowed £3,000 for a full redecoration throughout & new carpets in the bedrooms)
Being a flat in a purpose built block you'll obviously need to factor in the monthly service charge

For more information please call 0191 567 8577 or email neil.whitfield@belvoirlettings.com

Thursday 27 March 2014

Three Bedroom Semi in Popular Area (6.9% Gross Yield)

This three bedroom semi in the popular Farringdon area will deliver 6.9% Gross Yield based on the £85,000 asking price and a very achievable £495pcm

It looks 'Ready to Let' and with the larger than average gardens it should attract working families looking to stay in the area long term

Call us on 0191 567 8577 or email neil.whitfield@belvoirlettings.com for more information 

Tenanted 2 Bedroom Mid Terrace (8.6% Gross Yield)

According to the selling agent this 2 bedroom £70k mid terrace is rented out at £500pcm

That seems a bit ambitious to me (I'd have erred on the side of caution and advised £450pcm) but that delivers 8.6% Gross Yield based on their figures (or 7.7% based on mine)
It's in a decent SR5 location close to the Stadium of Light Metro and looks to be OK internally, so shouldn't need any further expenditure
Interestingly the same agent has what looks to be a similar tenanted property in the same street for £5k less, not sure if this is an error/duplication but if not it's also worthy of investigation!

For more information call 0191 567 8577 or email neil.whitfield@belvoirlettings.com 

Wednesday 26 March 2014

1 Bedroom Flat in Popular Royal Courts (7.2% Gross Yield)

Regular readers will know we rarely encourage investors to look at 1 or 2 bedroom flats 'in or around the town' due to the lack of tenant demand but time after time Royal Courts bucks this trend

The modern-ish (built in 2000) development is always popular with professional tenants and we have no problem letting both 1, 2 and 3 bedroom flats for decent rents
This 1 bedroom flat is on the market for £75,000 and once it's had a lick of paint will achieve £450pcm, returning 7.2% Gross Yield
Obviously being in a purpose built block it will carry a service charge but some landlords accept this knowing that (touch wood) they should get fewer maintenance costs than buying houses or converted flats

Call us on 0191 567 8577 or email neil.whitfield@belvoirlettings.com for more information

Monday 24 March 2014

2 Bedroom Seaham Bungalow - Possible Auction Bargain (9.3% Gross Yield)

This 2 bedroom bungalow in the Deneside area of Seaham is for sale by Auction with a Guide Price of £34,950



It needs work (possible damp work, redecoration throughout & new fitted kitchen) but if the total cost of investment (purchase price plus improvements) comes in at £55,000 or less it will represent a cracking investment delivering 9.3% Gross Yield based on £425pcm rent

Call us on 0191 567 8577 or email neil.whitfield@belvoirlettings.com for more information

Thursday 20 March 2014

'Needs Work' Three Bedroom Semi Close to Nissan & A19 (+7% Gross Yield)

This three bedroom ex-council semi needs work (even the selling agent admit this) but it will be popular with working couples & young families and if delivered to a good standard there is a high chance of attracting long term tenants


It's priced at £67,500 but realistically investors should budget for a further £10k to redecorate, change the flooring and crucially modernise both the kitchen and bathroom

Based on a total investment of £78,000 and an achievable rent of £475pcm it will deliver 7.3% Gross Yield

 

Call us on 0191 567 8577 or email neil.whitfield@belvoirlettings.com for more information

'Ready to Let' 2 Bedroom Top Floor Apartment (7.4% Gross Yield)

This top floor apartment is in a popular purpose built development in Seaham



It will return 7.4% Gross Yield based on the £65,000 asking price and £400pcm rent

 

Call us on 0191 567 8577 or email neil.whitfield@belvoirlettings.com for more information

Wednesday 19 March 2014

Three Bedroom End Terrace in Popular Red House Area (+6.6% Gross Yield)

This 3 bedroom end terrace in the popular Redhouse area is being marketed at "a realistic price to attract a faster than normal sale". That's estate agent speak for they're desperate and it needs work...



Even allowing £10k for improvements on top of the 'Offers Over' price of £80,000 it will still deliver 6.6% Gross Yield based on a very achievable £495pcm

Call us on 0191 567 8577 or email neil.whitfield@belvoirlettings.com for more information

Tuesday 18 March 2014

'Needs Work' 3 Bedroom End Terrace in Popular Location (7.3% Gross Yield)

This 3 bedroom end terrace will be popular due to its size, gardens and location just off Durham Road. It needs work - redecoration & flooring throughout and a new kitchen and bathroom - but allowing £10k - £15k for improvements it will still deliver a good return

 

 

It's on the market for £75,000 and allowing £15,000 for improvements it will still deliver 7.3% Gross Yield based on an achievable £550pcm rent (we manage a similar property just down the road and at £550 this has always been popular)

Call us on 0191 567 8577 or email neil.whitfield@belvoirlettings.com for more information

Monday 17 March 2014

2 Bedroom Modern Apartment with Good Metro Links (8.1% Gross Yield)

We've let several of these 2 bedroom apartments in Ford Lodge since they were built in 2009 and they are always popular due to the South Hylton village location and good connectivity via the nearby South Hylton Metro station

 

Sunderland Property Blog

 

At £70,000 this apartment represents a good investment as it will return 8.1% Gross Yield based on an achievable rent of £495pcm and there is scope for long term capital growth as they typically sold from new for over £90,000

 

For more information please call 0191 567 8577 or email neil.whitfield@belvoirlettings.com

Wednesday 12 March 2014

Good Investments Can Be Found In SR7



I was chatting to one of our landlords yesterday about the current lettings market and the conversation turned to his particular situation as he owns rental properties in both Sunderland and Seaham.


 

I’m conscious that we’ve mainly focussed on Sunderland for our previous articles and investment advice and with this in mind thought it would be worth looking at investment opportunities in the Seaham area (SR7 postcode), as we do manage a large number of properties in Seaham.

 


Sunderland Property Blog

As we’ve discussed before, many investors prefer to buy what they know or where they know, so for some Seaham & surrounding areas may be rejected simply due to fear of the unknown.



It’s fair to say that some areas in the SR7 postcode would tend to attract only non-working tenants and we would rarely advocate landlords renting to this market unless they are particular experienced in dealing with the complexities of this market.



You should seek our expert advice if considering a purchase in SR7 as whilst there are areas that we would advise you to avoid there are still many properties that stack up as good investments and will attract working tenants if you know where to look.



The majority of sales in Seaham during the last year were terraced properties, with an average sale price of just over £82,000. The average sale price for a 2 bedroom terrace was just over £70,000 and the average rent for a 2 bed terrace that would appeal to a Good Tenant is around £425pcm. This would deliver a healthy 7.2% Gross Yield.



There are bargains to be had with 2 bedroom terraced properties in the Seaham area starting as low as £25k but caution should be exercised as even following full refurbishment the location may dictate whether or not a working tenant could be sought.


Sunderland Property Blog

As a rule we tend to advise that 3 bedrooms are better than 2 and semi-detached houses are better than terraced - this certainly applies in Seaham so an ‘ideal investment’ 3 bedroom ex-council semi in the Westlea area of Seaham will cost around £85,000 and will deliver £475pcm in rent – giving a reasonable 6.7% Gross Yield

                         


Some landlords prefer to knowingly lose out on Yield but rent out ‘better’ properties that they would be happy to live in themselves – for this landlord the modern East Shore Village development in Seaham represents a popular choice for professional tenants 


Sunderland Property BlogThe average sale price for a 3 bedroom semi-detached house on East Shore Village is around £150,000 and with average rents of around £550 - £650 they will deliver between 4.4% and 5.2%. It’s worth noting that the buoyant sales market on East Shore Village means investors may be able to enjoy decent capital growth to offset the loss in Yield.



For more advice on Buying to Let in Seaham or in Sunderland please call 0191 567 8577 or email neil.whitfield@belvoirlettings.com 

'Ready to Let' Three Bedroom Semi (7% Gross Yield)

This three bedroom semi in Carley Hill (SR5) is presented to a high standard so is 'ready to let' and is likely to be popular to working families

Sunderland Property Blog

It's on the market for OIRO £89,950 - based on negotiating down to £85k and a realistic £495pcm rent it will deliver 7% Gross Yield

Give us a call on 0191 567 8577 or email neil.whitfield@belvoirlettings.com for more information

Two Bedroom Terrace in Popular Town End Farm (6.75% Gross Yield)

This 2 bedroom terrace in Town End Farm is for sale at 'offers over' £79,950

Sunderland Property Blog
Given the most recent sale on this road in Sept 2013 was for a similar property which sold for £70,000 it may be possible to offer less, but even based on the asking price & realistically achieving a £450pcm rent it will deliver 6.75% Gross Yield

Town End Farm is popular with a wide range of working tenants due to the location near to the A19 and Nissan

For more information please give us a call on 0191 567 8577 or email neil.whitfield@belvoirlettings.com

Tuesday 11 March 2014

Two Bedroom Extended Bungalow in Popular Area (7.6% Gross Yield)

This 2 bedroom extended bungalow is a bit of a rarity for Grindon but looking at the size, external space and excellent internal condition it will be popular

 

Sunderland Property Blog
Renting is not a "young persons game" anymore and the rental population is definitely ageing (the pensions crisis meaning people are having to sell up to live off the proceeds) so bungalows will only get more popular in years to come



This one will command £475pcm rent and based on the £75,000 asking price will return 7.6% Gross Yield

Call us on 0191 567 8577 or email neil.whitfield@belvoirlettings.com for more information

Monday 10 March 2014

Reduced 2 Bedroom Semi-Detached in Farringdon (7% Gross Yield)

We first highlighted this 2 bedroom semi in Farringdon last October but since then it's been reduced by £3,000 making it an even better investment

 

Sunderland Property Blog

 

The asking price is now £77,000 and it should achieve £450pcm without the need for significant additional investment on improvements, returning 7% Gross Yield 

 

 

 

Call us on 0191 567 8577 or email neil.whitfield@belvoirlettings.com for more information

Sunday 9 March 2014

Two Bedroom Terrace Near to Dalton Park & A19 (+7% Gross Yield)

We rented this 2 bedroom terrace last year & know it will achieve £350pcm in current market conditions, with £400pcm having been achieved in recent years

Sunderland Property Blog  
It's in Murton close to the expanding Dalton Park outlet village and with good access to Sunderland, Seaham & Teesside via the A19
Based on the asking price of £59,995 it will return between 7% and 8% Gross Yield


Call us on 0191 567 8577 or email neil.whitfield@belvoirlettings.com

Saturday 8 March 2014

Two Bedroom Semi on Corner Plot (7.6% Gross Yield)

This larger style 2 bedroom semi in Hollycarrside has good size rear gardens and a large open plan dining kitchen making it appealing to working family tenants

 

Sunderland Property Blog


Priced at £73,000 it will achieve £495pcm without the need for significant additional investment on improvements, so will return 7.6% Gross Yield

 

 

Call us on 0191 567 8577 or email neil.whitfield@belvoirlettings.com for more information

Friday 7 March 2014

Large 2 Bedroom Semi with Gardens in Popular Redhouse (6.9% Gross Yield)

This 2 bedroom semi has 2 reception rooms and front & rear gardens so it's likely to be popular with working families

 

Sunderland Property Blog   
Priced at £85,000 it will deliver 6.9% Gross Yield based on £495pcm rent

The kitchen & bathroom look to be of a good, modern standard and decoratively it appears to be OK however it's always worth budgeting for at least a lick of paint to freshen it up

Call us on 0191 567 8577 or email neil.whitfield@belvoirlettings.com for more information