Thursday, 28 April 2016

20% Below Market Value 1 Bed Terrace Near Sunderland Royal Hospital (9.2% Gross Yield)

We've previously rented and managed this 1 bedroom cottage close to Sunderland Royal Hospital and know it will be popular as it will appeal to a range of tenants - single people, couples or or those working at the nearby hospital

The Landlord is now looking to sell quickly and is has agreed a sale price of £52,000 which is £13,000 below the £65,000 market value for the property

We've recently achieved £400pcm (it may be possible to get a little more, £425 perhaps) but even based on the lower figure it will return a tidy 9.2% Gross Yield

This is an off-market deal not available through estate agents so click the link below for more information 

Milburn Street Marketing Pack

Please get in touch with me direct if you're interested in this property but be quick as it's likely to get snapped up soon!

Thursday, 21 April 2016

At Long Last! Go Ahead Given For The Vaux Site - This Is Important!

On July 2nd 1999 I walked out of the Vaux Brewery for the very last time, along with 700 other loyal employees who had been made unnecessarily redundant. Seventeen (17) years later we finally have an announcement of positive action to redevelop the site...

I was a member of the very close knit marketing department and to this day I still consider it a bittersweet honour that I was tasked with creating the very final brew, 'Time, Gentleman Please!', a limited edition bottled ale that was given only to Vaux employees as a parting gift

For those who don't know the full, inexcusable story of why Vaux closed in 1999 despite being a profitable business, the following Journal article gives a good summary of what led to the closure and what the Sunderland Echo article summarises what has happened since then

Anyway, at long last we have positive action being taken!

Sunderland City Council have approved Siglion's plans for Phase 1 of the redevelopment (shown below) and have also given outline planning permission for the masterplan of further development

How the new office development on the former Vaux site will look.

It is hoped that the initial office development above will be followed by flagship restaurant and retail developments and 200 homes

Development work could start as early as this summer

I really do hope that this will provide the much needed boost to the City Centre and the wider local economy and as a result has a much more positive impact on the Sunderland property market as a whole beyond the 200 "homes" planned for the site itself (as face it, they're going to be more swanky apartments that we can really do without, aren't they?)

If you want to discuss any aspect of the Sunderland property market please call me on 0191 567 8577 or email

Wednesday, 20 April 2016

Bargain 2 Bedroom Flat in Farringdon (12.6% Gross Yield!?)

This 2 bedroom flat on Allendale Road, Farringdon is being advertised with a Guide Price £38,000 by a Lincolnshire based online agent

They say it's tenanted and suggest £425pcm is achievable, I'd say based on the current condition it would be better to base your figures on £400 but even so that would return 12.6% Gross Yield

Whilst it's no horror-show, rather than keeping it as-is I'd suggest investing a little more to improve the kitchen and bathroom and give it a lick of paint

Click here for details and to contact the agent (who will probably put you in touch with the vendor to do the viewing...) 

Call me on 0191 567 8577 or email to discuss this or any aspect of the Sunderland property market

Tuesday, 19 April 2016

Two Agents Property Auction Properties - Worth A Look?

I've spotted 2 properties in the Agents Property Auction on 28th April that may be worth investigating, but unfortunately I'm forbidden from giving you any details of them...

One is a 2 bedroom ground floor flat in SR5 with a Guide Price of £37,500, the other is a 3 bedroom terrace in SR4 with a Guide Price of £84,950...both are available to see on Rightmove

If you'd like me to point you in their direction or have a chat about them send an email to or give me a call on 0191 567 8577 

Monday, 18 April 2016

Immaculate Ready To Let Cottage in Sought After High Barnes (6.6% Gross Yield)

This immaculate 2 bedroom cottage is in the popular High Barnes area that usually commands a rent premium vs similar properties in the surrounding areas

It will be popular with a range of tenants and it's close to Chester Road shops and Sunderland Royal Hospital

Based on paying the £100,000 asking price and achieving £550pcm rent it will return 6.6% Gross Yield

The Yield is acceptable and you may find that there's more potential for Capital Growth than in most areas of Sunderland

It's being marketed by Your Move so click here for details  and call them to arrange a viewing if interested

Give me a call on 0191 567 8577 or email to discuss this or any aspect of the Sunderland property market

Friday, 15 April 2016

Ready To Let Farringdon Semi (7.2 - 7.6% Gross Yield)

This 2 bedroom semi in Andrew Road, Farringdon is in a good lettable condition and should be popular 

It's in a good condition and has a conservatory and off street parking to the front of the property (relatively rare in Farringdon) but the downside is that the modern fitted kitchen looks to be very small

Image 1 of 13: Main

Overall I'd suggest £450 to £475pcm will be achievable, giving a 7.2 - 7.6% Gross Yield based on the £74,950 asking price

It's on the market with Dowen so click here for details and call them to arrange a viewing

Call me if you would like to discuss this or any aspect of property investment in Sunderland - call 0191 567 8577 or email

Thursday, 14 April 2016

Sheffield University Boffins Predict 41,000 Rental Homes In Sunderland By 2032

In stark contrast to the Doom & Gloom being spread by the national media, research recently carried out by Sheffield University predicts significant growth of the private rented sector in the coming decades

By their estimates, the rate of home ownership nationally will fall to 50% by 2032 (today it is 59.8% in Sunderland), while the rate of private sector renting will increase to 35% (it stands at 12.1% in Sunderland today)

Looking at the figures for Sunderland this represents a hugely significant change, however I can understand why this may turn out to be the case

Sunderland property values have remained pretty flat over the last six years, however so have average wages/salaries

What has changed in recent years is that following the Mortgage Market Review it is much harder to get a mortgage, which has served to push home ownership further out of reach for many, at a time when the stock of council houses has fallen significantly

Rather than building more council houses, recent government efforts to fix the deficiency of affordable housing have focused on those who want to buy a home, ranging from Help to Buy and their much vaunted Help to Buy ISA, and Starter Homes Scheme, an initiative offering a 20% discount for first time buyer

Unfortunately none of this matters if you are unable to save for the deposit...

Currently 14,550 households are living in private rented accommodation in Sunderland however if the above predictions ring true (based on no change in the total number of households but just a shift in the tenure of the existing housing stock) then that figure could rise to over 41,000 households

So whilst it appears Sunderland “Generation Rent” youngsters will continue to rent and to not to buy for the reasons set out above, Sunderland buy-to-let investors can be heartened by the projections of greater rental demand…however they may be faced with increased competition both from new private investors entering the market and possibly also the financial institutions

Faced with the new rules on tax, more and more Landlords will be looking to move away from the previous honeypot of Central London and the Southeast, because its higher prices meant lower rental yields

More and more investors will look further afield into the ‘provinces’, including Sunderland

It is also likely that as predicted elsewhere on the blog, there may be an increase in Build to Let activity with institutional investors wishing to capitalise on this increased demand by building new homes specifically to rent – I remain skeptical about how significant an impact this will have on Sunderland

Faced with the ever changing market and legislation you must take a more considered approach to your existing and future portfolio

The balance of capital growth and yield, especially in this low interest rate world we live in, means Sunderland landlords need to do more homework to ensure the investment in property gives the desired returns both in the short and long term

As always I make myself available for a free, no obligation chat to anyone looking to learn more about the Sunderland property market - whether you are an existing investor with property in Sunderland or are just considering it - give me a call on 0191 567 8577 or email

Wednesday, 13 April 2016

Spacious 3 Bedroom Mid Terrace Near Hospital - May Suit "Mini Mo" (£1,170pcm)

This 3 bedroom, 2 reception room terrace on Cleveland Rd is right next to the hospital and would suit conversion to a "Mini HMO"

It's priced at £125,000 and looks to be in a generally good condition but would benefit from a lick of paint and the kitchen and bathroom being updated as they're functional but a bit dated

It could rent out as a single let to a family for around £595pcm but the size of the property lends itself to being rented out to 3 individuals using the 2 upstairs double bedrooms and the downstairs dining room as double bedrooms

The room sizes would allow them to all have ensuites which will increase the appeal and also the achievable rent

There is a 4th bedroom but this is a small single bedroom typical with this sort of property so I'd suggest this was left as a storage room or for drying clothes etc

Based on improving the kitchen and bathroom, giving it a lick of paint throughout and putting ensuites into the 3 bedrooms I'd suggest £90 per room per week will be achievable, giving £1,170 rental income per month

It's on the market with Purplebricks (online agent) so click here for details and arrange a viewing - you'll probably end up with the vendor doing the viewing

Give me a call if you'd like to discuss this or this sort of Mini HMO investment - call me on 0191 567 8577 or email

Monday, 11 April 2016

Vacant Possession (But Needs Work) Silksworth Semi (7.0% Gross Yield)

This three bedroom semi in a popular part of Silksworth is on the market with vacant possession and no onward chain 

It's being advertised as OIRO £79,950 but given the circumstances it may be possible to negotiate 

Realistically it needs updating throughout so you'd be wise to budget on a renovation budget of £10k - 15k (and negotiate based on this)

It will easily achieve £495pcm (but I'd be cautious about going above the £500 ceiling) so if you can negotiate hard and bring it in with a total investment (purchase price plus renovations) of £85,000 it will deliver 7.0% Gross Yield

Image 1 of 6

It's being sold by Alfred Pallas so call them to arrange a viewing and click here for details

If you'd like to discuss this in more detail or any aspect of the Sunderland property market please call me on 0191 567 8577 or email