Property Investment Opportunity
We have a very special investment property available today; it is due to go ‘on-Market’ next week at offers in excess of £400,000. You have the opportunity to buy beforehand at a £20,000 discount and at a cracking yield of 10% gross! Purchase price is £380,000. Rental Value is £38,000.
- Shop Unit on Ground floor and basemen. 6 en-suite rooms above over a further 2 floors.
- Lock up shop unit, on a new 10 year FIAR [Fully insuring and repairing] lease [no maintenance or bills, tenant has been in occupation for 5 years and has just re-signed] £8000 per annum payable.
- 6 en-suite rooms above, shared kitchen communal area. All rooms rented for £80-120 per week. Circa. £29-30,000 per annum.
- Total Income Circa. £38,000 per annum.
- The rooms are recently refurbished, new bathrooms, kitchen, decoration and flooring throughout less than 2 months ago. The building is in good order generally. All rooms are rented out and demand for rooms in Northampton is very strong, rooms are usually rented within a matter of days.
- Northampton is a growing and prosperous town, demand for property and rental property in particular is strong and growth is tipped to be some of the hottest in the country in the next 3-5 years.
- Rents are rising and property values are rising.
- We can offer a full management service for this property via our lettings division.
- We can deal with marketing and letting of rooms, rent collection, cleaning and maintenance if the buyer requires.
At this stage we are inviting expressions of interest by email only due to the high number of enquiries we know we will receive.
This property is only available to buy this week, the property will go on the open market on 7th October. Applicants will have to be in a position to proceed to exchange quickly, finance is available to purchase a property such as this and we can put you in touch with a great mortgage broker if required.
If you are interested in knowing more, please reply by email with the following details:
• You full name
• Phone number
• Will this be a cash purchase or a mortgaged purchase?
The Fossey Taylor team.