Rotherham, S60 1GD | Investment Property for Sale | VES-S60-011

Opportunity to purchase an apartment in Rotherham generating £5,220 rent pa and a gross yield of 8.5%

£61,000

Purpose Built Flat

VES-S60-011

INITIAL INVESTMENT

£29,630

GROSS RENT / YIELD

£5,220 / 8.6%

NET RENT / YIELD

£3,059 / 5.0%

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The property

TENANCY

Tenanted

TENURE

Leasehold

GROUND RENT

£200

SERVICE CHARGE

£750

2 bedrooms

1 bathroom

1 reception room

477

Unfurnished

Property information

  • First floor flat
  • Located within a recently refurbished building of 18 units
  • The property is currently managed by the vendor

Leasehold information

  • Length of lease: 125 years
  • Year lease started: TBC

Location information

  • The property is situated in the town centre with shops, bars and restaurants on the doorstep
  • Rotherham Health Village is approximately 0.3 miles away
  • The railway station is about 0.4 miles away

Note

At the time of listing there are no EPCs available for this property. However, Vesta will add these as soon as they have been received.

Please note that Vesta has not visited this property and that all material has been provided by the vendor.

The listings particulars haven't yet been reviewed by the vendor and are therefore not final.

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

£5,220

Equivalent of £435 per calendar month (PCM).

GROSS RENTAL YIELD

8.6%

Gross rent per annum divided by the purchase price.

NET RENT PER ANNUM

£3,059

Gross rent per annum minus fully managed operating costs.

NET RENTAL YIELD

5.0%

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

FULLY MANAGED OPERATING COSTS

£2,161

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 Rotherham

Rotherham is a town in South Yorkshire, England, located approximately 10 miles northeast of Sheffield.

The M1 motorway is a less than 3 miles from Rotherham town centre and connects it to Leeds in the north and London in the south. Rotherham Central railway station operates services to Doncaster, Wakefield and Leeds, as well as Meadowhall, Sheffield and York. The station is also served by the Sheffield Supertram trains, running between Rotherham Parkgate and Sheffield Cathedral.

The town centre is home to a variety of shops, including high street favourites, independent shops, cafes and bars. You can also find the Centenary Indoor Market and the Centenary Covered Market in town six days a week, providing everything from fresh produce to antiques, clothes, pottery, books and much more.

Rotherham also has several attractions to offer, including the hugely popular Magna Science Adventure Centre, Clifton Park Museum, Rotherham Minster, Wentworth Woodhouse and many more. The Civic Theatre and Arts Centre hosts a variety of dance, comedy, music, drama and variety shows throughout the year for all the family to enjoy.

Rotherham Metropolitan Borough Council published its 10-year economic plan for the town, with some of the developments already completed, like the brand new £10.5m University Centre Rotherham campus, or underway. There are plans for a leisure scheme on Forge Island providing a cinema, hotel, restaurants and bars and new residential housing; improvements of the waterside for public spaces and housing; redevelopment of the indoor market; an upgrade and refurbishment of the bus interchange and car park; to name a few.

A large proportion of residents commute for work to places like the Magna 34 business park, which is just outside of town and is home to employers such as Tata Steel, Parcelforce, Magna Science Centre and a number of smaller businesses. Other large employers can be found within the Advanced Manufacturing Park (AMP), which is located on the border of Sheffield and Rotherham. Boeing, Rolls Royce and McLaren are some of the most well-known companies that have made their home here. Other include Sheffield Hallam University, Oracel, CBRE, Labflex A/S, Iceotope and Waldeck Consulting.

Cathedral Court,

Rotherham,

South Yorkshire,

England,

S60 1GD

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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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