Tuesday, 15 April 2014

Freehold Development of Nine 3 Bed Houses (6.6% Gross Yield)

Sunderland Property Blog
This one will only appeal to serious investors but there is an opportunity to buy all 9 of these modern 3 bedroom houses on a small development in Town End Farm (SR5)

The guide price is £900k and the selling agent is advising all 9 properties are let on ASTs at what equates to £550pcm - this gives a Gross Yield of 6.6% assuming no negotiation on the Guide Price
The location and style of properties will make them popular with young working families and £550 seems about right for a modern 3 bedroom property (there's nothing directly comparable nearby but given 2 beds tend to go for £450 - £495 this seems reasonable)
Call us on 0191 567 8577 or email neil.whitfield@belvoirlettings.com for more information

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