Gainsborough, DN21 2JP | Investment Property for Sale | VES-DN21-002

Tenanted apartment in Gainsborough, producing £5,400 in rent per annum and a gross yield of 9.6%

£56,500

Apartment

VES-DN21-002

INITIAL INVESTMENT

£26,534

GROSS RENT / YIELD

£5,400 / 9.6%

NET RENT / YIELD

£2,820 / 5.0%

The property

TENANCY

Tenanted

TENURE

Leasehold

GROUND RENT

£200

SERVICE CHARGE

£850

1 bedroom

1 bathroom

1 reception room

450

Fully Furnished

  • Length of lease: 125 year from 2007

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

£5,400

Equivalent of £450 per calendar month (PCM).

GROSS RENTAL YIELD

9.6%

Gross rent per annum divided by the purchase price.

NET RENT PER ANNUM

£2,820

Gross rent per annum minus fully managed operating costs.

NET RENTAL YIELD

5.0%

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

FULLY MANAGED OPERATING COSTS

£2,580

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

Click to understand assumptions.

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 Gainsborough, East Midlands

Gainsborough is a town in the West Lindsey district of the county of Lincolnshire, in the East midlands of England. It is situated 18 miles north-west of Lincoln, 33 miles east of Sheffield and 49.5 miles south-east of Leeds.

This area is serviced by Gainsborough Lea Road railway station which is managed by East Midland Trains. This station operates an hourly service on the Sheffield-Lincoln line westbound to Sheffield and eastbound to Lincoln Central. Northern operates 5 trains per day on the Doncaster-Lincoln Line from Monday-Sunday, they are direct to Doncaster northbound and Lincoln Central southbound with some extending to Peterborough.

Gainsborough has a long history of industry and manufacturing which has been the backbone of the community’s economy. Attractions include the Gainsborough Town Hall which is a restaurant and entertainment venue, and the house and grounds of Richmond Park include greenhouses, an aviary and a 600-year-old oak tree.

In town there are still job opportunities in industry and manufacturing but alternatively there are many job opportunities in the nearby city of Lincoln, which is home to many great employers that are constantly recruiting for new roles. Big employers such as Anglian Water, the Royal Air force, Danwood Group, Siemens and Fairfax management consultants.

This property could be ideal for families seeking local schooling options for their children. This town is home to one of the top state schools in the country, Queen Elizabeth’s High School, which offers schooling from 11-18. Alternatively, there is also The Gainsborough Academy which specialises in technology and performing arts.

Trinity View,

Gainsborough,

Lincolnshire,

England,

DN21 2JP

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