Just checking through my files this morning and I have just noticed another interesting property which only came onto the property market a few days ago. At first, it didn't quite catch my eye (not too sure why), but after a few quick calculations it appears to add up.
The property is an apartment in Oxford Road and has come onto the market for £160K with Your Move in Canterbury. As ever, two bedroom apartments are in constant demand, especially within the rental Canterbury market.
So, what do the numbers look like? For starters, let's look at the first scenario, i.e. purchase and let. If the property was let for say £800 per month, this would deliver a yield of 6%. On the other hand, you may wish to make some modifications, i.e. complete re-decoration, new carpets, bathroom and kitchen for say £10K, this would still give you a yield of 5.65% which is a) excellent and b) you now have a fully re-furbished property, which will make it very attractive to quality tenants.
Check this one out at http://www.rightmove.co.uk/property-for-sale/property-49870307.html and give them a call!
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 / canterbury@martinco.com or call in and see me at 23 Watling Street in Canterbury.
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