Sleaford, NG34 7RF | Investment Property for Sale | VES-NG34-001

Opportunity to purchase a terraced house in Sleaford generating £6,900 rent pa and a gross yield of 5.0%

£137,950

Terraced House

VES-NG34-001

INITIAL INVESTMENT

£62,978

GROSS RENT / YIELD

£6,900 / 5.0%

NET RENT / YIELD

£5,300 / 3.8%

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The property

TENANCY

Tenanted

TENURE

Freehold

2 bedrooms

1 bathroom

2 reception rooms

731

Fully Furnished

This is a rare opportunity to purchase a former chapel, renovated to a high standard. This house has two bedrooms, a lounge with high ceiling and a mezzanine floor. It comes with parking and a rear garden.

Floorplan to be added shortly.

Market Trends

Sales Trends

  • Prices in NG34 have increased 27.29% over the last 5 years (+1% over the last 12 months) and are £172k which varies by property type (£79k for a 1-bed flat to £376k for a 5-bed detached property).

  • On average, there have been 61 properties sold per month in the area in the last 12 months.

Rental Trends

  • Rents in NG34 are now at £549 per month (-1% over the last 12 month).

  • Given prices in the area, gross yield is currently 4.6% which is in line with the national average of 4.7%.

  • This property is currently achieving a gross yield of 5.0% which is 8% above the area.

Source: REalyse - accessed 16/04/2019

Tenancy

RENT

£6,900 p.a. / £575 pcm

TENANCY DEPOSIT

£675

TENANCY TYPE

AST

TENANCY AGREEMENT STARTED

3 months ago

TENANCY AGREEMENT ENDS

3/9/2021

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

£6,900

Equivalent of £575 per calendar month (PCM).

GROSS RENTAL YIELD

5.0%

Gross rent per annum divided by the purchase price.

NET RENT PER ANNUM

£5,300

Gross rent per annum minus fully managed operating costs.

NET RENTAL YIELD

3.8%

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

FULLY MANAGED OPERATING COSTS

£1,600

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 Sleaford, Lincoln, East Midlands

Sleaford is a market town in Lincolnshire, located about 14 miles northeast of Grantham, 19 miles west of Boston and 19 miles south of Lincoln. The nearby A17 and A15 connect Sleaford to Lincoln, Newark, Peterborough and King’s Lynn.

A direct train from Sleaford takes you to Lincoln in around half an hour. Lincoln is a cathedral city and county town of Lincolnshire in the East Midlands. Lincoln is 27.3 miles south of Scunthorpe and 39 miles north-east of Nottingham.

The city of Lincoln is serviced by one main train station Lincoln Central and fortunately this property is around a 20-minute stroll away. The Majority of the services are operated by East Midlands Trains, along side a few owned by Northern and London North Eastern Railway. East Midlands Trains operates regular services to other major cities in the Midlands such as Nottingham, Doncaster, Peterborough and Sheffield, and one service a day to London St Pancras. There is also one service a day to London King’s Cross that is operated by London North Eastern Railway.

Lincoln is historically known as a tourist attraction due to its numerous historical buildings such as the cathedral, Castle and Medieval Bishop’s Palace. This property is located in the centre of town and so is in walking distance of all these sights as well as other cultural attractions like the Museum of Lincolnshire Life and the Usher Gallery. Around the River Witham that runs through the centre of town is the shopping hub of the city. The Waterside shopping centre provides the main bulk of retail options in the area, and a short hop over the High Bridge takes you to the High Street which has other retail options to satisfy one’s commercial needs. This area is also rich in a number of bars and restaurants that have a variety of dining options.

The city of Lincoln is home to many great employers that are constantly recruiting for new roles. Big employers such as Anglian Water, the Royal Air force, Danwood Group, Siemens and Fairfax management consultants. A short hour journey on the train shall deliver you in to the heart of Nottingham which has a vast array of jobs on offer also.

Lincoln is also home to two Universities, the most established being the University of Lincoln.

Riverside Close,

Sleaford,

Lincolnshire,

England,

NG34 7RF

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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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