Leicester, LE1 1SE | Investment Property for Sale | VES-LE1-006

Opportunity to purchase an apartment in Leicester generating £6,600 rent pa & gross yield of 6%

£110,000

Studio apartment

VES-LE1-006

INITIAL INVESTMENT

£33,300

Based on

deposit: £27,500

stamp duty: £3,300

mortgage fees: £1,500

conveyancing fees: £1,000

GROSS RENT

£6,600

GROSS YIELD

6.0%

ADD TO FAVOURITES

The property

TENANCY

Tenanted

TENURE

Leasehold

GROUND RENT

£188

SERVICE CHARGE

£1,138

1 bedroom

1 bathroom

0

366

Fully Furnished

Leasehold information

  • Length of lease: 125 years
  • Year lease started: 2002
  • Years left on lease: 105 years (from 2022)
  • Service charge review period: annually
  • Ground rent review period: increases in 10-year increments by 25%

Property information

  • Situated in the Grade II Alexandra House which was refurbished and converted in the early 2000s into apartments
  • Located on the 4th floor
  • Open plan living/bedroom
  • Kitchen is separate
  • Extra storage in the hallway
  • External leak to window repaired promptly by property management company in June 2022
  • EPC rating: C
  • Council tax band A
  • Monthly rental income £550

Location information

  • The property is located just outside the Leicester city centre
  • A large number of amenities are just a short walk from the property
  • Leicester railway station is a 10-minute walk away

Note

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

Tenancy

RENT

£6,600 p.a. / £550 pcm

TENANCY DEPOSIT

£550

TENANCY TYPE

AST

TENANCY AGREEMENT STARTED

1 months ago

TENANCY AGREEMENT ENDS

6/29/2024

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

The information relating to this property is supplied by the vendor and was the latest available information at the time of listing. Certain information may expire or become inaccurate over time.

Vesta makes no warranty as to the accuracy or completeness of the property listing or any associated information. All information should be reviewed by the purchaser and their solicitor.

About Leicester, East Midlands

Leicester is a city in the East Midlands and of the county Leicestershire. It is located 11.6 miles south of Loughborough and 24.8 miles of Coventry.

Leicester’s rail network is of significant importance to the city and so provides several services to London and other regions within the midlands region. This station runs routes from north-south through Leicester on the Midlands main Line, south to Kettering, Bedford, Luton and London; and north to Derby, Nottingham, Lincoln, Sheffield and Leeds. The station also offers the east-west cross-country route which goes west to Birmingham and east to Peterborough, Cambridge and Stanstead airport. There are 4 trains per hour servicing to London St. Pancras half of which are fast services and get to the capital in just over an hour.

This buzzing city has many exciting things has to offer, a vast amount of retail options as well as two large shopping centres that are in Highcross and Haymarket Shopping Centres. There is also a plethora of restaurants and bars offering a variety of dining experiences. The city centre is rich in historical and cultural attractions such as the New Walk Museum and Art Gallery, King Richard III Visitor Centre and several theatres. Leicester is also home to several sporting clubs, including Leicester City who famously won the Premier League season of 15/16.

Due to recent regeneration in the area like the Highcross Leicester there are 100s of job opportunities within Leicester’s vibrant city centre. It is also home to head offices of large employers such as Next, Hastings Direct, Tesco and East Midlands Airport.

Leicester has two institutions of further education with 50,000 full-time students studying at the University of Leicester and De Montfort University.

Rutland Street,

Leicester,

Leicester,

England,

LE1 1SE

What makes us different?

Vesta’s sole purpose is to make buying and selling rental property easy for both landlords and tenants.

Benefits include:

  • Buy tenanted property
  • Huge choice for all budgets
  • View property performance data
Learn more >

Questions?

Our sales team is standing by to help.

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.

In no event will we be liable for any loss or damage, including without limitation any loss or damage arising directly or indirectly out of or in connection with the use of this website and the information contained therein.

Vesta Property is a full member of the Property Ombudsman (TPO) and commits to TPO Codes of Practice

Chartered Trading Standards Institute - Approved Code

Authorised and regulated by the property ombusdman

Copyright © 2022 Vesta Global Limited. All rights reserved.