Peterborough, PE1 5GW | Investment Property for Sale | VES-PE1-001

Opportunity to purchase an apartment in Peterborough generating £8,340 rent pa and a gross yield of 7%

£120,000

Apartment

VES-PE1-001

INITIAL INVESTMENT

£54,220

GROSS RENT / YIELD

£8,340 / 7.0%

NET RENT / YIELD

£5,262 / 4.4%

The property

TENANCY

Tenanted

TENURE

Leasehold

GROUND RENT

£200

SERVICE CHARGE

£787

2 bedrooms

1 bathroom

1 reception room

702

Unfurnished

Leasehold Details

  • Length of lease: 125 years from January 2015

Tenancy

RENT

£8,340 p.a. / £695 pcm

TENANCY DEPOSIT

£1,013

TENANCY TYPE

AST

TENANCY AGREEMENT STARTED

23 months ago

TENANCY AGREEMENT ENDS

5/2/2019

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

Rental Income

GROSS RENT PER ANNUM

£8,340

Equivalent of £695 per calendar month (PCM).

GROSS RENTAL YIELD

7.0%

Gross rent per annum divided by the purchase price.

NET RENT PER ANNUM

£5,262

Gross rent per annum minus fully managed operating costs.

NET RENTAL YIELD

4.4%

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

FULLY MANAGED OPERATING COSTS

£3,078

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 Peterborough, Cambridgeshire

Peterborough is a cathedral city in the county of Cambridgeshire in the east of England. It is situated on the River Nene which flows into the North Sea which is 30 miles to the north-east. This city is located around 75 miles north of London, 70 miles east of Birmingham, 65 miles west of Norwich and 38 miles east of Leicester.

Peterborough railway station is a principal stop on the East Coast Main Line and the station is managed by the London North Eastern Railway. London North Eastern Railway runs a frequent service southbound to London’s King’s Cross with one leaving around every 20-minutes and only stopping at Stevenage. Northbound destinations on this line include Leeds, Newcastle Central and Edinburgh Waverley. Great Northern operates a service from Peterborough to King’s Cross that runs twice an hour. Cross country regional services run hourly to Birmingham via Leicester northbound and Stanstead Airport via Cambridge southbound. East Midland Trains also operate hourly services to Norwich and Liverpool via Nottingham and Sheffield and Manchester Piccadilly. Greater Anglia runs a two-hourly service to Ipswich via Ely and Bury St Edmunds.

The Queensgate shopping centre is the main shopping district in town, and it is situated adjacent to the bus station and a short walk from the railway station. This shopping centre houses over 90 stores across 3 floors including all of the high street greats such as Argos, H. Samuel, M&S, Next and more. There are a number of cultural attractions in town including The Cathedral of Saint Peter, Saint Paul and Saint Andrew, Peterborough Museum and Art Gallery and the Railworld Wildlife Haven.

Recent regeneration of the city centre has created thousands of jobs in retail, a variety of leisure and cultural developments, hotels and offices as well as other workspaces. Big employers including Tesco and Debenhams have relocated their distribution centres to the town alongside the 2,500 employees at the Gateway Warehouse and distribution park.

This property could be perfect for young families looking for local academic options for their children. The Queen Catherine Academy is an educational institution that educates children from nursery all the way to sixth form. There is also the independent The Peterborough School for girls and now boys up to the age of 18.

Vicrage Farm road,

Peterborough,

Peterborough,

England,

PE1 5GW

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 >

Important Note

The information contained in this website is for general information purposes only. The information is provided by Vesta Global Limited and while we endeavour to keep the information up to date and correct, we make no representations or warranties of any kind, express or implied, about the completeness, accuracy, reliability, suitability or availability with respect to the website or the information, products, properties, services, or related graphics contained on the website for any purpose. Any reliance you place on such information is therefore strictly at your own risk.

In no event will we be liable for any loss or damage including without limitation, indirect or consequential loss or damage, or any loss or damage whatsoever arising from loss of data or profits arising out of, or in connection with, the use of this website.

Copyright © 2019 Vesta Global Limited. All rights reserved.