St. Austell, PL26 8GH | Investment Property for Sale | VES-PL26-002

Opportunity to purchase an apartment in Plymouth generating £6,000 in rent pa and a gross yield of 6.1%

£99,000

Apartment

VES-PL26-002

INITIAL INVESTMENT

£45,064

GROSS RENT / YIELD

£6,000 / 6.1%

NET RENT / YIELD

£3,314 / 3.3%

The property

TENANCY

Tenanted

TENURE

Leasehold

GROUND RENT

£200

SERVICE CHARGE

£842

2 bedrooms

1 bathroom

1 reception room

592

Fully Furnished

Length of Lease: 125 years from 24 June 2006

_ EPC has been instructed _

Tenancy

RENT

£6,000 p.a. / £500 pcm

TENANCY DEPOSIT

£0

TENANCY TYPE

Common Law Agreement

TENANCY AGREEMENT STARTED

5 months ago

TENANCY AGREEMENT ENDS

11/26/2023

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

£6,000

Equivalent of £500 per calendar month (PCM).

GROSS RENTAL YIELD

6.1%

Gross rent per annum divided by the purchase price.

NET RENT PER ANNUM

£3,314

Gross rent per annum minus fully managed operating costs.

NET RENTAL YIELD

3.3%

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

FULLY MANAGED OPERATING COSTS

£2,686

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

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