York, YO31 8HY | Investment Property for Sale | VES-YO31-001

Opportunity to purchase an apartment in York generating £8,700 rent pa and a gross yield of 4.4%

£200,000

Apartment

VES-YO31-001

INITIAL INVESTMENT

£90,900

GROSS RENT / YIELD

£8,700 / 4.4%

NET RENT / YIELD

£5,892 / 2.9%

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The property

TENANCY

Tenanted

TENURE

Leasehold

SERVICE CHARGE

£790

2 bedrooms

1 bathroom

1 reception room

744

Unfurnished

Leasehold information

  • Ground rent: included in the service charge
  • Length of lease: 999 years
  • Year lease started: 2005

Property information

  • First floor apartment
  • EPC rating C
  • Communal parking with an allocated space
  • Tenants have been living at the property for 2 years and the tenancy is now periodic
  • Monthly rental income £725

Tenancy

RENT

£8,700 p.a. / £725 pcm

TENANCY DEPOSIT

£1,000

TENANCY TYPE

AST

TENANCY AGREEMENT STARTED

29 months ago

TENANCY AGREEMENT ENDS

Periodic

Floorplans

Documents available on request, please contact for viewings or further questions.

The information relating to this property is supplied by the vendor and was the latest available information at the time of listing. Certain information may expire or become inaccurate over time.

Vesta makes no warranty as to the accuracy or completeness of the property listing or any associated information. All information should be reviewed by the purchaser and their solicitor.

Financials

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Rental Income

GROSS RENT PER ANNUM

£8,700

Equivalent of £725 per calendar month (PCM).

GROSS RENTAL YIELD

4.4%

Gross rent per annum divided by the purchase price.

NET RENT PER ANNUM

£5,892

Gross rent per annum minus fully managed operating costs.

NET RENTAL YIELD

2.9%

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

FULLY MANAGED OPERATING COSTS

£2,808

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 York, North Yorkshire

York is a city in North Yorkshire, England, with a population of 208,200 as of 2017.

A truly unique destination in which to both live and work, York is well placed in the heart of the Yorkshire county, and is easily accessible hosting an impressive 9 million visitors last year. The city is known for its famous historical landmarks such as York Minster and the city walls, as well as a variety of cultural and sporting activities.

The city is 22 miles (35 km) north-east of Leeds, and is part of the Leeds Region. York lies in the Vale of York, bordered by the Pennines, the North York Moors and the Yorkshire Wolds. The city was built at the confluence of the Rivers Ouse and Foss on a terminal moraine left by the last Ice Age.

Offering great investment potential, York’s property market benefits from a strong and reliable rental demand, together with attractive property prices when compared with those achievable in the South of the UK. As its population continues to steadily rise, York has a number of reasons to invest:

  • One of the most resilient economy in the North and growing year on year
  • Great accessibility and transport connections
  • Excellent standards of schools and universities
  • A diverse and varied cultural experience
  • Stunning architecture and high quality living accommodation

The service industries include public sector employment, health, education, finance, information technology (IT) and tourism. The biggest employer in York is the City of York Council, with over 7,500 employees. Employers include Aviva, Network Rail, Northern, York Hospitals NHS Trust and the University of York. Other major employers include British Telecom, CPP Group, Nestlé, NFU Mutual and a number of railway companies.

In 2016, York became sister cities with the Chinese city of Nanjing, focusing on building links in tourism, education, science, technology and culture. Today, the city is a popular tourist attraction, especially for international visitors from China and Asia.

York's location on the River Ouse and in the centre of the Vale of York means that it has always had a significant position in the nation's transport system.

The A64 road provides the principal link to the motorway network, linking York to both the A1(M) and the M1 motorways at a distance of about 10 miles (15 km) from the city. The transpennine M62 motorway is less than 20 miles (30 km) away providing links to Manchester and Liverpool.

It takes less than two hours to get to York from London by rail, with at least 25 direct trains each weekday. The station is also served by long distance trains on CrossCountry services linking Edinburgh and Newcastle with destinations in south and west England via Birmingham. TransPennine Express provide a frequent service of semi-fast trains linking York to Newcastle, Scarborough, Leeds, Manchester, Manchester Airport, and Liverpool. Local stopping services by Northern connect York to Selby, Harrogate, Hull, Leeds, Sheffield and many intermediate points, as well as many other stations across Greater Manchester and Lancashire.

Feversham Crescent,

York,

York,

England,

YO31 8HY

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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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