EYES ON….The Investment Property Of The Week…..

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Here’s my investment property of the week in NG24 for less than £150,000

Address: The Courtyard, Castle Brewery, NG24 4FF
Type: 2 Bedroom First Floor Apartment
Asking Price: Offers in the Region of £115,000
Estate Agent: Purple Bricks
Condition: Ready to Rent
Rent Range: £525-575pcm (once completed)
Yield: 6%

Located in the very sought after Castle Brewery development, this first floor apartment is perfect for someone looking for modern, professional accommodation with the added bonus of allocated parking and in house gym access, ideal for a working couple! With Albert Street and Asda on one side and Iceland and the cinema on the other within just a couple of minutes walk, tenants will never be too far from the local amenities; it’s close enough to Newark Castle to be able to walk to the station yet far enough out of the centre to go straight to the A1/A46 down London Road.

We recently let out a 2 bed first floor flat in The Courtyard without a juliette balcony but with a recently renovated bathroom for £600pcm and we had no end of enquiries from both couples and single professionals; there is nothing wrong with the current bathroom, it’s just very vanilla, however if you wanted to reach £600pcm then some beautiful floor to ceiling tiles along with a modern bath panel and shower screen would certainly get you there.

Apartments don’t come up for sale in the Courtyard very often, particularly 2 bedroom ones, the last one sold in 2014 for £106,500 with the last 1 bed selling in 2015 for £85,000 however prior to that was a penthouse 1 bed with a balcony that for £124,000 in 2015 so do you think the price is right? Higher or Lower?!

In conclusion, i think this is a great apartment that would tick the boxes for many professional people, £600pcm for a modern apartment with parking, gym access and good connections for trains and cars. From an investors perspective this would be ideal for a first time investor or an established one, it requires very little maintenance or work as the bathroom update is just a suggestion, the question is….will you be booking a viewing?

If you’re interested in this property and would like a detailed report on it’s investment potential, call us on 01636 343014, or better still pop in for a chat and a cuppa.

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