This block of flats is near the cricket ground and overlook a river, which can always be a selling point to buyers / tenants, within easy reach of the City centre as well, so it would be perfect for those professional tenants that everyone craves. (us included!)
It’s been maintained quite nicely by the looks of things, so I doubt you would have to do anything to it, worthy of it’s asking price of £210k in my opinion, you can always try to haggle though.
Similar properties to these rent in the region of £950 pcm, which isn’t too bad when you calculate it against the asking price, you are looking at a gross return of 5.4%.
As I’ve said before though, you must look at what the service charges etc are though as these will need to be taken into consideration when looking to buy any property for let.
If you would like any further advice on buying to let, drop me an e-mail on stephen.frost@martinco.com
