Draycott, DE72 3WH | Investment Property for Sale | VES-DE72-001

Opportunity to purchase an apartment in Draycott generating £5,940 rent pa and a gross yield of 6%

£99,000

Apartment

VES-DE72-001

INITIAL INVESTMENT

£45,064

GROSS RENT / YIELD

£5,940 / 6.0%

NET RENT / YIELD

£2,802 / 2.8%

Above average yield

Through our expertise and research, we have found that this property is above the average of this location based on data from REalyse, PropertyData and Zoopla

The higher the yield the stronger the return on investment.

The property

TENANCY

Tenanted

TENURE

Leasehold

GROUND RENT

£250

SERVICE CHARGE

£1,255

1 bedroom

1 bathroom

1 reception room

TBC

Unfurnished

Leasehold information:

  • Length of lease: 250 years
  • Year lease started: 2004

Property details

  • converted flat within a Grade II Listed Victorian Mill Building

Please note that Vesta has not visited this property and that all material has been provided by the vendor.

The listings particulars haven't yet been reviewed by the vendor and are therefore not final.

Market Trends

Sales Trends

  • Prices in DE72 have increased 25% over the last 5 years (+1% over the last 12 months) and are £229,000 which varies by property type (£195,000 for a 1-bed flat to £397,000 for a 5-bed detached property). On average, there have been 27 properties sold per month in the area in the last 12 months.

  • In comparison, prices in the wider Derby DE postcode area are £175,000 (+2% over the last 12 months) and range between £84,000 for a 1-bed flat to £463,000 for a 5-bed detached property.

Rental Trends

  • Rents in DE72 are now at £654 per month (+20% over the last 12 months). On average, there have been 9 properties listed for rent per month in the area in the last 12 months.

  • Given prices in the area, gross yield is currently 4.0% which is lower than the national average of 4.7% and the wider Derby DE postcode area of 4.8%.

  • This property is currently achieving a gross yield of 6.0% which is 33% higher than the area.

Source: REalyse - 26/04/2019 Note: prices and rent are median and averaged over the last 12 months, unless stated. Data from property listings is taken from c. 20 different sites and agents.

Tenancy

RENT

£5,940 p.a. / £495 pcm

TENANCY DEPOSIT

£743

TENANCY TYPE

AST

TENANCY AGREEMENT STARTED

13 months ago

TENANCY AGREEMENT ENDS

Periodic

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

Rental Income

GROSS RENT PER ANNUM

£5,940

Equivalent of £495 per calendar month (PCM).

GROSS RENTAL YIELD

6.0%

Gross rent per annum divided by the purchase price.

NET RENT PER ANNUM

£2,802

Gross rent per annum minus fully managed operating costs.

NET RENTAL YIELD

2.8%

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

FULLY MANAGED OPERATING COSTS

£3,138

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

Click to understand assumptions.

Profit & Growth

Disclaimer

This information is for illustration purposes only and does not constitute advice. It is correct at the time of writing. For advice specific to your personal circumstances, please speak to a financial adviser.

About Draycott, Derby; East Midlands

Draycott is a village in Derbyshire in the East Midlands. It is located approximately 6 miles east of Derby and 3 miles south-west of Long Eaton. It’s close proximity to Derby makes it ideal for commuting.

Derby is a city in the county of Derbyshire in the East Midlands of England. It is located on the banks of the River Derwent in the south of Derbyshire, around 15 miles west of Nottingham and 37 miles north east of Birmingham.

This area is serviced by Derby Midland railway station which is managed by East Midlands Trains. East Midland Trains operates a 2 train per hour (tph) over the Midland Main Line southbound to London St Pancras via Leicester and northbound to Sheffield. Other local routes are operated by East Midland Trains, with frequent services on the Nottingham – Matlock Derwent Valley Line and the Derby – Crewe via Stoke-on-Trent lines. CrossCountry run inter-regional services to Newcastle and Edinburgh Waverley northbound and Plymouth via Bristol Temple Meads and Reading southbound (both via Birmingham New Street).

Shopping in central Derby is divided amongst three main shopping districts, these include the Cathedral Quarter, the St Peters Quarter and the Intu Derby shopping centre. The Cathedral Quarter was Derby’s first Business improvement District and includes a large variety of shops, boutiques, coffee shops and restaurants. This district also includes the Derby Museum and Art Gallery and Derby Central Library. The largest of these districts is the Intu Derby shopping centre which is the main shopping centre in the city, with around 199 stores, a food court and the 12-screen cinema.

There are many job opportunities in industry in Derby, it is a centre for advanced transport manufacturing, home to the world’s largest aero-engine manufacturer Rolls-Royce and Toyota Manufacturing UK’s automobile headquarters is south west of the city at Burnaston. Bombardier Transportation are based at the Derby Litchurch Lane Works were for many years the UK’s only train manufacturer and therefore the city was known as the railway centre of the UK. Derby is also home to the Royal Crown Derby, which is one of the longest-established businesses in the city and produces porcelain since the 1750s. There is also Infinity Park Derby which is a business park specifically for aerospace, rail and automotive technology.

In this area there is also a selection of local schooling options which could make this location ideal for young families looking for educational institutions in walking distance for their children. The Beckett Primary School offers mixed-sex education to the age of 11 and for those looking for education for their older children there is The Kingsmead School, which educated to the age of 16.

Victoria Mill,

Draycott,

Derby,

Derbyshire,

England,

DE72 3WH

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