1 bed flat for sale

Copperfields, Basildon SS15

Location

Situated within the popular Copperfields development in Basildon, this one-bedroom apartment is ideally suited to investors seeking an established buy-to-let opportunity with immediate rental income.

The property enjoys convenient access to Basildon Town Centre, local shopping facilities, restaurants, leisure amenities and excellent transport links. Basildon remains a popular choice amongst tenants due to its accessibility to London, strong local employment opportunities and proximity to major road networks including the A127 and A13.

These factors continue to support strong tenant demand, helping to make the area an attractive proposition for long-term property investors.

Investment opportunity

Offered for sale with a tenant currently in occupation, (recently indicated long term commitment) this apartment generates a rental income of £950 per calendar month (£11,400 per annum), providing an immediate return from day one.

The current rent is considered below prevailing market levels for comparable properties in the area, offering potential for future rental growth, subject to legislation and statutory rent review procedures.

At the asking price of Offers in the Region of £170,000, the property currently produces a gross rental yield of approximately 6.7% and a net yield of approximately 5.8% after deduction of the current service charge and ground rent.

The combination of an established tenancy, sensible annual outgoings and future rental growth potential presents a compelling investment opportunity for both experienced and first-time landlords.

Overview of accommodation

The apartment offers well-proportioned and modern accommodation throughout.

The good size living room, with separate kitchen area, creating an attractive and practical living space. The fitted kitchen incorporates a range of appliances and provides storage and workspace.

The double bedroom is a good size, whilst the bathroom is finished in a neutral style suite and includes a shower.

The property further benefits from entry phone system and an EPC rating of C, helping to maintain reasonable running costs for occupiers.

Investment information

Asking Price: oiro £170,000

Current Rent: £950 per calendar month (£11,400 per annum)

Gross Yield: Approximately 6.7%

Net Yield: Approximately 5.8% (after ground rent and service charge)

Lease Remaining: Approximately 87 years (expiring June 2113)

Ground Rent: £80 per annum

Service Charge: Approximately £1,448 per annum (plus annual balancing adjustments where applicable)

EPC Rating: C

Council Tax Band: A

why we like it

Investment properties offering an established tenant, attractive rental yields and potential for future rental growth are becoming increasingly difficult to find. The combination of immediate income, relatively low annual charges, a popular rental location and excellent tenant demand makes this an excellent addition to a buy-to-let portfolio.

Furthermore, should the rent be brought into line with prevailing market levels in the future (subject to legislation), there is potential to further enhance the property's investment return.

Agents note

All rental figures, lease information, ground rent and service charge details have been provided by our client and should be verified by prospective purchasers and their legal representatives prior to exchange of contracts. Yield calculations are provided for guidance purposes only and do not constitute investment advice.

Disclaimer

With approximate measurements these particulars have been prepared in good faith by the selling agent in conjunction with the vendor(s) with the intention of providing a fair and accurate guide to the property. However, they do not constitute or form part of an offer or contract nor may they be regarded as representations, all interested parties must themselves verify their accuracy. No tests or checks have been carried out in respect of heating, plumbing, electric installations or any type of appliances which may be included.