This blog follows the buy-to-let market in Canterbury and the surrounding area. You'll find tips, guidance, and analysis that relates specifically to Canterbury and you'll also find properties from all the estate agents in the town on here that may make decent investments. I operate Martin & Co in Canterbury and if you're thinking of buying a property to let in Canterbury, I'm happy to offer a second opinion.
Friday, 23 January 2015
Student Investment - 6.16% yield
Talking to an investment landlord
from London yesterday, we discussed a property that he had just purchased close
to Station Road West. During the conversation he asked my opinion with regard
to investing in the student market, here in Canterbury. With a sharp intake of
breath, I said ‘tread with caution’, due to the current over supply of student
properties and ensure that it’s the right property and in the right place.
The above being said, the
following property has just come onto the market and it looks OK. It’s on the
market with Miles & Barr for £250K and based upon a 12 month Tenancy, with
half rent in July / Aug, i.e. 11 months’ rent, it should give a yield of circa
6.16%. This was based upon a room rate of £350 per student.
From the photos and description,
the property appears to be in good shape and should let fairly swiftly. There
is a timing issue with this property, which is not insurmountable and just
needs to be taken into consideration.
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 / email@example.com or call in and see me at
23 Watling Street in Canterbury.