Coventry, CV6 5JY | Investment Property for Sale | VES-CV6-001

Opportunity to purchase an apartment in Coventry generating £7,200 rent pa and a gross yield of 9%

£80,000

Apartment

VES-CV6-001

INITIAL INVESTMENT

£37,800

GROSS RENT / YIELD

£7,200 / 9.0%

NET RENT / YIELD

£4,680 / 5.9%

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The property

TENANCY

Tenanted

TENURE

Leasehold

GROUND RENT

£50

SERVICE CHARGE

£800

2 bedrooms

1 bathroom

1 reception room

489

Partially Furnished

Leasehold information

  • Length of lease: 99 years
  • Year lease started: 1970

Property information

  • Ground floor flat
  • Comes with a garage and an un-allocated parking space
  • Bus stop outside the property which goes into the centre of Coventry
  • EPC rating E

Tenancy

RENT

£7,200 p.a. / £600 pcm

TENANCY DEPOSIT

£600

TENANCY TYPE

AST

TENANCY AGREEMENT STARTED

3 months ago

TENANCY AGREEMENT ENDS

5/8/2020

Floorplans

Documents available on request, please contact for viewings or further questions.

The information relating to the property is supplied by the vendor and the latest available at the date of listing.

Certain information may expire or become inaccurate over time and should be verified by the purchaser’s solicitor.

Financials

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Rental Income

GROSS RENT PER ANNUM

£7,200

Equivalent of £600 per calendar month (PCM).

GROSS RENTAL YIELD

9.0%

Gross rent per annum divided by the purchase price.

NET RENT PER ANNUM

£4,680

Gross rent per annum minus fully managed operating costs.

NET RENTAL YIELD

5.9%

Gross rent per annum minus fully managed operating costs divided by the purchase price.

FULLY MANAGED OPERATING COSTS

£2,520

The total estimated sum of expenses calculated annually assuming a fully managed service.

Click to understand assumptions.

Disclaimer

All financial information is provided as a guideline only, is based on estimates and assumptions and is subject to change. Buyers are advised to seek independent financial advice. Capital at risk.

About Coventry, West Midlands

Coventry is a city and metropolitan borough in the West Midlands, and is the second largest city in the region, after Birmingham. It lies about 19 miles southeast of Birmingham, 24 miles southwest of Leicester, 11 miles north of Warwick and around 94 miles northwest of London.

Coventry has excellent road links and is near the M6, M69, M45 and M40 motorways and with its own inner ring road linking the city centre with the M6 motorway. The M6 begins near Rugby and goes all the way up to Gretna, whilst the M40, 10 miles south of Coventry, connects the city with London.

The city’s railway station lies on the Birmingham loop of the West Coast Main Line and also runs regular services between London Euston and Birmingham New Street. A number of other services go to Wolverhampton, Shrewsbury, Preston, Glasgow and Edinburgh Waverly. Others run to Manchester, Oxford and Bournemouth, with local services operating between Coventry-Nuneaton, Northampton and Leamington Spa. Around 6 miles outside the city centre, in the village of Baginton, lies Coventry airport. It has a CAA Ordinary Licence allowing flights for public transport of passengers or for flying instructions. However, since January 2018 there are no public scheduled or charter operations available at the airport.

Birmingham airport lies around 10 miles northwest of the city centre and offers both domestic and international flights to Europe, the Middle East, Indian subcontinent, North America and the Caribbean.

Coventry boasts a number of historic buildings including St Michael’s Cathedral, Bagot’s Castle, Cook Street Gate, Lunt Roman Fort, St John the Baptist Church and The Weaver’s House, to name a few.

The Herbert Art Gallery and Museum is one of the city’s largest cultural institutions and hosts a wide range of talks, events and workshops for visitors of any age. The Coventry Transport Museum boasts the largest collection of British-made road vehicles in the world, whilst the Midland Air Museum, just outside of Baginton, displays exhibits in a large hangar as well as displays aircrafts in the open.

There are many other theatre, art and music venues in Coventry, including Warwick Arts Centre, Albany Theatre, Belgrade Theatre, Ricoh Arena, SkyDome Arena, Butts Park Arena and Coombe Country Park.

Everyone’s shopping needs are also taken care of thanks to a selection of markets and shopping centres, including Arena Park, West Orchards, Lower Precinct, FarGo Village and Coventry Market. Ikea opened their first UK store here in 2007.

There are two universities in the city, Coventry University and University of Warwick. Coventry also has three further education colleges, City College, Henley College and Hereward College, as well as several specialist colleges. These include Finham Park School, specialised in mathematics and IT, Coventry Blue Coat CoE School, specialised in music, Cardinal Wiseman Catholic School and Language College, specialised in languages and Bishop Ullathorne RC School, specialised in humanities. Others are specialised in science, performing arts and business and enterprise.

Coventry and Warwickshire is home to many amazing job opportunities through a number of well-known employers, such as: Jaguar Land Rover, Caterpillar, BMW, Aston Martin Lagonda, Rolls-Royce, Severn Trent Water, Valpak, National Grid, E.on U Ltd, Alstom and many more.

Culworth Court,

Coventry,

West Midlands,

England,

CV6 5JY

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Important Note

All information contained in this website is provided as a guideline only, is based on estimates and assumptions, may not be accurate or complete, and is subject to change. We make no representations or warranties with regards to this information, expressed or otherwise. A buyer who relies on such information does so at their own risk. Buyers are advised to seek independent financial advice and should undertake their own due diligence.

Your capital is at risk. Property values may decline and the property might not be able to be rented at amounts sufficient to cover debt interest costs, operating expenses and liabilities, and might not result in a positive cash flow. Property is an illiquid asset and should not be viewed as a short-term investment.

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