Monday, 17 November 2014

Student let worth taking a look at, with a 6.35% yield potential

Readers of my blog will know my view on student properties within the Canterbury area, which quite simply is right place and right standard, i.e. as long as the property is in the right area and it's finished to a high standard, then there should be no problem in letting the property. In converse, if the property is in the wrong place and is in a poor state, then it won't rent. It's that simple.

Therefore, when I was looking through Rightmove this morning, this property caught my attention. At the moment, it ticks one box, i.e. right place and with a bit of TLC, the other box should be ticked!

It's on with Your Move at £170K, in Nethersole Close. It's a 3 bed apartment and should rent out to students at a minimum of £900 per month. This combination will deliver a yield of 6.35%. This being said, we are renting out a number of similar properties in the same area for £1100 per month. On this basis, the yield then moves to a very healthy 7.76% yield.


Check it out at http://www.rightmove.co.uk/property-for-sale/property-49112870.html

Should you wish to discuss any other specific properties or just a general chat re the current market, please feel free to contact me on 01227 455717 or call in and see me at 23 Watling Street in Canterbury.