Tenanted investment property - not suitable for owner-occupiers
Beautifully presented two bedroom apartment which comprises of an entrance hallway leading to a spacious lounge/dining area with large double glazed windows throughout; fully fitted kitchen with all appliances included; a large double bedroom with three piece en-suite; a three piece bathroom suite with shower over bath; a second bedroom with double glazed window to the front.
In terms of property investment, Colchester offers great opportunities. You get a lot more for your money in this part of the country, and puts one of the benefits to settling in Colchester down to the variety of customer profiles that investors can let their property to, for example Colchester is also a thriving student town, which is increasing the demand for this type of property.
It is also a great commuter belt to London, with a direct train to Liverpool Street Station taking just 56 minutes.
Reasons to invest:
- More than £660,000 is due to be invested into promoting Essex's coast. This will boost the local economy as more tourists visit the area.
- The investment is set to create 277 jobs, which will increase rental demand.
- House prices in Colchester have increased by 21.55% in the last 5 years (Zoopla, July 2019)
Gross rent: £9,000
Ground rent: £250
Service charge: £1,197
Lettings fees: £900
Net income: £6,653
Gross yield: 5.45%
Net yield: 4.03%
*Service charge, management fee and ground rent are included as part of the assured rental period.
These particulars, whilst believed to be accurate are set out as a general outline only for guidance, and do not constitute any part of an offer or contract. Neither Yieldit nor the vendor or lessor accept any responsibility in respect of these particulars, which are not intended to be statements or representations of fact and any intending purchaser must satisfy himself by inspection or otherwise as to the correctness of each of the statements contained in these particulars.
Yieldit ref: Yl-14531