Nanpean, PL26 7WG | Investment Property for Sale | VES-PL26-005

Opportunity to purchase an apartment in Nanpean, Cornwall generating £5,100 rent pa and a gross yield of 6%

£85,000

Apartment

VES-PL26-005

INITIAL INVESTMENT

£39,950

GROSS RENT / YIELD

£5,100 / 6.0%

NET RENT / YIELD

£3,112 / 3.7%

ADD TO FAVOURITES

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

£25

SERVICE CHARGE

£780

1 bedroom

1 bathroom

1 reception room

TBC

Fully Furnished

Awaiting details

  • Length of lease: TBC
  • Tenancy details: TBC

Market Trends

Sales Trends

  • Prices in PL26 have increased 18% over the last 5 years (+1% over the last 12 months) and are £182k which varies by property type (£102k for a 1-bed flat to £480k for a 5-bed detached property).

  • On average, there have been 32 properties sold per month in the area in the last 12 months.

  • In comparison, prices in the wider Plymouth PL area are £193k (+1% over the last 12 months) and range between £107k for a 1-bed flat to £495k for a 5-bed detached property.

Rental Trends

  • Rents in PL26 are now at £674 per month (-5% over the last 12 month). On average, there have been 15 properties listed for rent per month in the area in the last 12 months.

  • Given prices in the PL26 area, gross yield is currently 4.8% which is higher than the national average of 4.7% and higher than the wider Plymouth PL area of 4.7%.

  • This property is currently achieving a gross yield of 6.0% which 20% higher than the area.

Source: REalyse - 16/04/2019

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

£5,100

Equivalent of £425 per calendar month (PCM).

GROSS RENTAL YIELD

6.0%

Gross rent per annum divided by the purchase price.

NET RENT PER ANNUM

£3,112

Gross rent per annum minus fully managed operating costs.

NET RENTAL YIELD

3.7%

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

FULLY MANAGED OPERATING COSTS

£1,988

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 Cornwall

Cornwall is a county in South West England and forms the westernmost part of the South West peninsula of Great Britain. The county is bordered by the Celtic Sea to the north and west, the English Channel to the south and the county of Devon to the east.

This county is served mainly by stations that lie on the Cornish Main Line and provide routes from Penzance to Plymouth. Numerous train stations in this county lie on this line including Plymouth, Devonport, Redruth, Camborne, St Austell and more. Services from these stations provide great links to destinations in the local area as well as all over southern England, London and even further around the Country. Cornwall also benefits from having its own commercial airport which is Cornwall Airport Newquay, which flies to several destinations on the island and a selection of cities in Europe such as Berlin, Alicante and Copenhagen.

The economy of Cornwall is heavily based around the tourism industry, which sees visitors from around the country spend £1.8bn annually. Cornwall’s beautiful scenery and vast miles of beach and cliffs has made it a top destination for tourists and surfers that want to enjoy the fantastic weather. Other tourist attraction in this county include the moorland, country gardens, museums and wooded valley. St Austell has seen a large increase in tourism due to the proximity to the Eden project which attracts one in eight of Cornwall’s visitors. In 2018 this county saw an increase of 20% more visitors. Cornwall’s economy also benefits from the fishing and agriculture with products such as Cornish clotted cream.

Cornwall has a selection of higher education institutions such as the University of Exeter and Falmouth University. This location could also be ideal for families with young children with around 40 secondary schools in the county and a number of primary schools throughout the villages.

Wheal Brake Lodge,

Nanpean,

Saint Austell,

Cornwall,

England,

PL26 7WG

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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.

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.

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