Friday, 27 March 2015

Two Bedroom Bonners Raff Apartment (7.5% Gross Yield)

The Bonners Raff development on the north side of the River Wear is popular with young professionals and students (it's a stones throw away from St Peters Campus) as well as older tenants looking to downsize

The development is a mixture of studios, 1 bedroom apartments, 2 bedroom apartments (single floor & duplex) and 3 bedroom triplex apartments and like other similar developments built prior to the Financial Crisis, you can pick them up now for much less than was originally paid

A 2 bedroom, single floor apartment such as this will have originally cost between £150,000 - £200,000  when the development was new in 2004 so the £94,950 asking price represents quite a saving (and suggests that whilst it may take some time, there is room for capital growth)

Based on the above and a conservative £595pcm rent (2 bedroom duplex apartments can achieve £650 - £695 so I've been deliberately cautious) it will return 7.5% Gross Yield...of course you'll need to factor in service charges, it being a leasehold apartment

Click here for details https://www.onthemarket.com/details/1155353/

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

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