Margate, CT9 2ER | Investment Property for Sale | VES-CT9-001

Opportunity to purchase an apartment in Margate generating £6,600 p.a. and a gross yield of 6%

£110,000

Apartment

VES-CT9-001

INITIAL INVESTMENT

£50,700

GROSS RENT / YIELD

£6,600 / 6.0%

NET RENT / YIELD

£3,619 / 3.3%

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The property

TENANCY

Vacant

TENURE

Leasehold

GROUND RENT

£250

SERVICE CHARGE

£1,200

2 bedrooms

1 bathroom

1 reception room

659

Unfurnished

Leasehold Details

  • Length of lease: 125 years
  • Year lease started: 25 December 2006

Rental information

  • Expected monthly rental income is £550, based on previous tenancy agreement

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

£6,600

Equivalent of £550 per calendar month (PCM).

GROSS RENTAL YIELD

6.0%

Gross rent per annum divided by the purchase price.

NET RENT PER ANNUM

£3,619

Gross rent per annum minus fully managed operating costs.

NET RENTAL YIELD

3.3%

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

FULLY MANAGED OPERATING COSTS

£2,981

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 Margate

Margate is a seaside town in the county of Kent. This town is situated 15 miles north-east of Canterbury, 43 miles east of Maidstone and 73 miles east of London.

This area is serviced by Margate railway station which is managed by Southeastern. This station acts as the terminus of the Ashford to Ramsgate Line and the London to Margate via Ashford Line. Southeatern operates 1 train per hour (tph) to London St Pancras via Chatham, 1 tph to London St Pancras via Ramsgate, Dover Priory and Ashford International, 1 tph to London St Pancras via Canterbury West, 1 tph to London Victoria via Chatham and Bromley South and another 1 tph to Ramsgate.

There are some shopping options in town based around The Bay in the town centre where one can find the College Square Shopping Centre which has a selection of national favourites and shops to cater to visiting tourists. Due to the tourism industry there is a number of attractions in town such as the Dreamland Amusement Park, The Scenic Railway and a Shell Grotto.

As Margate Is a seaside town the economy of the town is largely based around the tourism industry which has drawn Londoners and other visitors to its sandy beaches for over 250 years. The town also has a relatively high number of workers in construction, hotels & restaurants and health & social care industries. Big employers in town that hire hundreds of people in the local area include PA Crocker and Reliable Contractors.

This location could be ideal for young families seeking local schooling options for their children that is in within walking distance. Some of the primary schools in the town are Palm Bay Primary School, Draper Mills Primary School and Cliftonville Primary School. For those looking for secondary schools options in the area there is Hartsdown Academy which includes a sixth form also.

Dalby Square,

Margate,

Kent,

England,

CT9 2ER

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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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