Good morning! On my Rightmove travels, I came across this beautiful two bedroom marina apartment for sale with Taylors, with a private roof terrace at an asking price of £250,000. This type of property is exactly what the market needs at the moment.
http://www.rightmove.co.uk/property-for-sale/property-41098860.html
These apartments are finished to a good standard, and offer generous room proportions. The location is quite popular for renters, set within a stone’s throw of the Marina Quayside.
2 bed apartments in this area, easily rent out for around 850 - 895pcm at the moment, so even if we are conservative and base our calculations on the bottom figure, you could still be looking at an annual return of 4.8%, which is pretty good.
Before you go jumping in feet first, check out how many years are remaining on the lease and the cost for the annual service charge and ground rent. When buying an investment property, you need to make sure you have your eyes wide open.
If you would like any advice on buying a property to let, feel free to give me a call 01275 840600