Redruth, TR15 3JL | Investment Property for Sale | VES-TR15-001

Apartment in Redruth, Cornwall generating £6,960 in rent per annum & a gross yield of 5.6%

£125,000

Apartment

VES-TR15-001

INITIAL INVESTMENT

£56,400

GROSS RENT / YIELD

£6,960 / 5.6%

NET RENT / YIELD

£4,872 / 3.9%

The property

TENANCY

Tenanted

TENURE

Share of Freehold

GROUND RENT

£260

2 bedrooms

1 bathroom

1 reception room

667

Unfurnished

Leasehold Details

  • Length of lease: 999 years from March 2004

Tenancy

RENT

£6,960 p.a. / £580 pcm

TENANCY DEPOSIT

£670

TENANCY TYPE

AST

TENANCY AGREEMENT STARTED

31 months ago

TENANCY AGREEMENT ENDS

9/8/2019

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

Rental Income

GROSS RENT PER ANNUM

£6,960

Equivalent of £580 per calendar month (PCM).

GROSS RENTAL YIELD

5.6%

Gross rent per annum divided by the purchase price.

NET RENT PER ANNUM

£4,872

Gross rent per annum minus fully managed operating costs.

NET RENTAL YIELD

3.9%

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

FULLY MANAGED OPERATING COSTS

£2,088

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 Redruth, Cornwall

Redruth is a town in the county of Cornwall in the south west of England. It is situated approximately 9 miles west of Truro, 12 miles east of St Ives and 18 miles north east of Penzance.

This area is serviced by Redruth railway station which lies on the Cornish Main Line and lies in between Truro and Camborne. Great Western Railway operate trains along the Cornish main Line between Penzance and Plymouth with one train in each direction per hour. Some services run to and from London Paddington including the Night Riviera and Cornish Riviera. Cross Country also runs limited services to Manchester Piccadilly or Glasgow Central.

Redruth is a small commercial town and has a selection of shopping options centralised around the main high street which is Fore Street. There is a range of popular shops and outlets in the town centre and it also includes a multi-screen cinema, a covered market way and various antique shops. Off of Fore Street there are further retail and dining options along the Bond Street and Green Lane.

There are several job opportunities in town from large employers that employ hundreds of people in the local area and provide services nationwide. Some of the big employers in town are FalFish Holdings a seafood processor, UKRD Group Ltd which operates local commercial radio stations and many more.

This area could be ideal for families looking for local schooling options for their children. Primary schools in the town include Pennoweth School and Treleigh School which educate children to the age of 11. Redruth school is a Technology College in town which includes a secondary school and a sixth form college.

Higher Broad Lane,

Redruth,

Cornwall,

England,

TR15 3JL

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