St. Austell, PL26 8GH | Investment Property for Sale | VES-PL26-001

Opportunity to purchase an apartment in Plymouth generating £5,700 in rent pa and a gross yield of 6.3%

£90,000

Apartment

VES-PL26-001

INITIAL INVESTMENT

£41,140

GROSS RENT / YIELD

£5,700 / 6.3%

NET RENT / YIELD

£3,346 / 3.7%

The property

TENANCY

Tenanted

TENURE

Leasehold

GROUND RENT

£200

SERVICE CHARGE

£566

1 bedroom

1 bathroom

1 reception room

376

Unfurnished

Leasehold Details

Length of Lease: 125 years from 24 June 2006

Tenancy

RENT

£5,700 p.a. / £475 pcm

TENANCY DEPOSIT

£475

TENANCY TYPE

AST

TENANCY AGREEMENT STARTED

15 months ago

TENANCY AGREEMENT ENDS

Periodic

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

£5,700

Equivalent of £475 per calendar month (PCM).

GROSS RENTAL YIELD

6.3%

Gross rent per annum divided by the purchase price.

NET RENT PER ANNUM

£3,346

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

£2,354

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 St Austell, Cornwall

St Austell is a town in the county of Cornwall which is the westernmost part of the south west peninsula of Great Britain. This town is situated 10 miles south of Bodmin and 30 miles west of the border of Devon.

This area is serviced by St Austell railway station which is on the Cornish main line and is managed by Great Western Railway. Great Western Railway operates services to or from London Paddington via Exeter St David’s, including the Night Riviera overnight sleeping service. CrossCountry also operate a limited service to destinations such as Birmingham New Street, Wolverhampton, Manchester, Leeds and Glasgow Central.

There is a variety of retail options in town concentrated around the town centre where one can find the White River Place shopping centre. The White River Place features around 20 stores and services. In the surrounding area there are several public houses, an array of high street retailers and several independent stores catering for the booming tourism industry. The town centre also features a museum which is situated in Market House, a brewery museum and a visitor centre.

St Austell’s economy is historically associated with the china clay industry and it has for a long time been the centre of the china clay industry in the UK. The china clay industry still employs over 2,200 people in the local area. Cornwall’s economy is heavily dependent on tourism, which accounts for around a quarter of the economy and brings in over £1.85bn a year to the area. St Austell is very similar in this regard and the tourism industry here accounts for a lot of people’s livelihoods. Attractions such as the Eden Project and the Lost Gardens of Heligan are some of the most popular sites to visit in town.

This location could be ideal for your young families looking for school options for their children. There are three comprehensive schools in town, Politar School, Penrice Academy and Brannel School, all of which include a sixth form. For those looking for educational options for younger children there is Mount Charles School and Carclaze Community Primary School.

Hillside Court,

Bugle,

Saint Austell,

Cornwall,

England,

PL26 8GH

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.