Milton Keynes, MK12 5BN | Investment Property for Sale | VES-MK12-002

Opportunity to purchase an apartment in Milton Keynes earning £9,540 rent pa & a gross yield of 6%

£159,000

Apartment

VES-MK12-002

INITIAL INVESTMENT

£72,450

GROSS RENT / YIELD

£9,540 / 6.0%

NET RENT / YIELD

£7,327 / 4.6%

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Long-term tenant

Tenants that stay for long periods feel they have a stake in the property and are more likely to treat it as though it was theirs.

Benefits include:

  • Steady income
  • Minimised wear and tear
  • Fewer void periods

The property

TENANCY

Tenanted

TENURE

Share of Freehold

2 bedrooms

2 bathrooms

1 reception room

635

Unfurnished

Property information

  • Share of freehold
  • Ground floor flat
  • Master bedroom has ensuite
  • Open plan kitchen/living space
  • EPC rating D
  • Tenants have been living in this property since 14/07/2017, current tenancy agreement started in 12/01/2019

Tenancy

RENT

£9,540 p.a. / £795 pcm

TENANCY DEPOSIT

£1,550

TENANCY TYPE

AST

TENANCY AGREEMENT STARTED

10 months ago

TENANCY AGREEMENT ENDS

12/12/2019

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.

Financials

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Rental Income

GROSS RENT PER ANNUM

£9,540

Equivalent of £795 per calendar month (PCM).

GROSS RENTAL YIELD

6.0%

Gross rent per annum divided by the purchase price.

NET RENT PER ANNUM

£7,327

Gross rent per annum minus fully managed operating costs.

NET RENTAL YIELD

4.6%

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

FULLY MANAGED OPERATING COSTS

£2,213

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 Milton Keynes, Buckinghamshire

  • Milton Keynes is a large town in Buckinghamshire, England, about 50 miles (80 km) north-west of London.
  • Built during the UK Government's push in the 1960’s to relieve housing congestion in London, with a target population of 250,000
  • Over £1 billion of private investment has been committed in the last decade, transforming the city's skyline with new architecture, developing the infrastructure needed and creating an unparalleled air of optimism throughout the city.

Property

  • Milton Keynes property prices have increased in recent years, despite housebuilding keeping pace with the city’s growing population, however the average house prices in Milton Keynes are lower than many of its neighbours, despite ongoing economic success.
  • Business relocation is one of the main drivers on the local property market, with house prices increasing by over 8% per annum, making Milton Keynes one of the ten fastest growing places in the country, according to Hometrack. Average rental yields have also increased, now standing between 4.5% to 5%.

Population

  • At the 2011 Census, its population was almost 230,000; the Office for National Statistics estimates that it will reach 300,000 by 2025.
  • One of Britain’s fastest growing cities by population; the population has grown by over 17% between 2005 and 2015 and expanded its job base by 33,000, a growth of almost 25%.

Business / Economy

  • Milton Keynes has one of the more successful economies in the UK, ranked highly on a number of criteria. Between 2010 and 2016, it’s business base grew by an amazing 34%.
  • One of the UK's top five fastest growing centres, it has benefited consistently from above-average economic growth.
  • It has the fifth highest number of business start-ups per capita and it is home to several major national and international companies.
  • Home to more than 150 head office operations, representing diverse industry sectors including consumer finance, retail, banking, industrial products, financial technologies, IT outsourcing, leisure and social care including.
  • HQs include: Volkswagen Group, National House Building Council (NHBC), Domino's Pizza, Aston Martin Red Bull Racing, Makita, Mercedes-Benz, Xero, Rightmove Group, Suzuki GB, Volkswagen Financial Services and Yamaha Music Europe GmbH.

Schools

  • Milton Keynes College offers bespoke and innovative training courses and apprenticeships for local businesses, such as Red Bull Racing, NiftyLift and the Foreign and Commonwealth Office.
  • Milton Keynes is working towards having its own new university, MK:U. The university, to be led by Cranfield University, will work closely with local businesses to ensure that students gain both a degree and experience relevant to the needs of the local economy.

Connectivity

  • Milton Keynes is located at the very heart of the UK, and is the centre point between London, Birmingham, Oxford and Cambridge.
  • Road and rail connections are just 35 minutes by train from Central London.
  • Milton Keynes is served by international airports such as London Heathrow, London Luton, London Stansted, Birmingham and East Midlands, all of which can be reached in 90 minutes.

Jersey Road,

Wolverton,

Milton Keynes,

Milton Keynes,

England,

MK12 5BN

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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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