Redruth, TR15 3PB | Investment Property for Sale | VES-TR15-003

Opportunity to purchase an apartment in Redruth generating £5,100 rent pa and a gross yield of 5.8%

£87,500

Apartment

VES-TR15-003

INITIAL INVESTMENT

£41,025

GROSS RENT / YIELD

£5,100 / 5.8%

NET RENT / YIELD

£3,237 / 3.7%

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The property

TENANCY

Tenanted

TENURE

Leasehold

GROUND RENT

£75

SERVICE CHARGE

£605

1 bedroom

1 bathroom

1 reception room

TBC

Fully Furnished

Leasehold Details

  • Length of lease: TBC

Tenancy

RENT

£5,100 p.a. / £425 pcm

TENANCY DEPOSIT

£0

TENANCY TYPE

Common Law Agreement

TENANCY AGREEMENT STARTED

22 months ago

TENANCY AGREEMENT ENDS

11/19/2022

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

5.8%

Gross rent per annum divided by the purchase price.

NET RENT PER ANNUM

£3,237

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

£1,863

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 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.

Agar Court, Agar Road,

Pool,

Redruth,

Cornwall,

England,

TR15 3PB

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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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