EYES ON…THIS WEEKS INVESTMENTS IN NEWARK!!

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Here is this weeks round up of new properties for sale in NG24, up to a value of £150,000.

As ever, here’s a quick reference guide to what is on offer, for how much and what you can expect as an investor.

Address: 4 Greenway, Newark, NG24 4JE
Type: 3 Bed Semi-Detached
Asking Price: £145,000
Estate Agent: Newton Fallowell
Condition: Some modernisation required.
Rent Range: £550-600pcm (once completed)
Yield: 4.97%
Comments: Nestled within Hawtonville,this 3 bed semi is crying out for an update, no bathroom or bedroom photos suggests it’s as dated or worse than the living room. Considering how much needs to be spent on this, the price is a way off, a pristine 4 bed sold for £142,500 in December.

Address: 12 Pond Close, Fernwood, Newark, NG24 3RU
Type: 3 Bedroom Town House
Asking Price: £145,000
Estate Agent: Newton Fallowell
Condition: Ready to Rent
Rent Range: £600-650pcm
Yield: 5.38%
Comments: Very well presented town house ideal for a first time investor with little/no work required meaning it could be marketed straight away; the vendors purchased this is in March for £139,500 so they aren’t making much after fees. 3 bed town house in Fernwood with a large garden and 2 parking spaces, perfect.

Address: Clipsham Close, Newark, NG24 3LD
Type: 2 Bed Semi-Detached
Asking Price: £132,950
Estate Agent: Haart
Condition: Ready to Rent
Rent Range: £550-600pcm
Yield: 5.42%
Comments: Cosey little house perfect for a couple or singleton, the camera shy bathroom does worry me but the driveway is always a tenant pleaser and it’s in a great location. Don’t be put off by the nearby train line, it’s not THAT close and our tenants on the same street don’t seem to notice it!

Address: Milton Street, Balderton, Newark, NG24 3AP
Type: 3 Bed Semi-Detached
Asking Price: £127,000
Estate Agent: Purple Bricks
Condition: Complete Renovation Required
Rent Range: £600-650pcm
Yield: 6.14%
Comments: Not for the faint hearted, brilliant opportunity for those who aren’t afraid of getting their hands dirty, 25k on renovations and you’d still get 5.1% yield. We let the exact same style of property on Shakespeare Street mid renovation for £650pcm, thanks to early advertising the landlords had no void period.

Address: 8 Wright Street, Newark, NG24 1PJ
Type: 2 Bed Mid-Terrace
Asking Price: £112,500
Estate Agent: CPG Property Ltd
Condition: Ready to Rent
Rent Range: £475-525pcm
Yield: 5.6%
Comments: Colourful 2 bed home within Barnby Road Academy catchment area making it great for small families, good first time investment as it’s reasonably priced and little work is required but don’t get drawn in by the converted loft space, you need to check the legalities of the staircase.

Buttercross Best Buy
Address: Apartment 3, Dobsons Quay, Newark, NG24 1EU
Type: 1 Bed Ground Floor Apartment
Asking Price: £95,000
Estate Agent: Jon Brambles
Condition: Ready to Rent
Rent Range: £425-475pcm
Yield: 6%
Comments: Lovely modern apartment located on the banks of the River Trent in Newark town centre, with an allocated parking space to the rear and 5 minutes walk to Newark Castle station, it’s ideal for a working professional or couple. I have nothing bad to say about this apartment, no work required, in a great location and hello 6% yield!

If you’ve seen a property in Newark or Nottinghamshire 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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Eyes On… Cross Street, Newark

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Cross Street

This week we are talking about this 2 bedroom terraced house on Cross Street, Newark.

My recent blog post was about the ever popular 2 up 2 down and how they will always be a top choice for tenants & landlords.

Cross Street is in catchment for Barnby Road Academy which is an Ofsted Outstanding School, so clearly this will be a good choice for a family. Equally, given its proximity to the centre of town, it would be ideal for a couple, or indeed single tenancy.

Personally I find the fluorescent paint work a little startling but actually the house looks really good.

The kitchen & the bathroom look clean, modern & fresh, well cared for.

From the photos there doesn’t appear to be any work that needs doing so it would be great for an investor looking to pick up the keys to an instant income.

The garden space is low maintenance and there is an out building offering additional storage. This has been top of the requirements list for several tenants recently who run their own business & need that extra storage space.

So in summary a 2 bed house, close to amenities, low maintenance & council tax band A… this is sure to be popular with tenants.

We currently have tenants waiting for 2 bed properties in the area.
If you have a rental property or are thinking of investing, please contact us.

This is on the market for £84,950
It last sold for £68,000 in 2011, so that is almost a 25% increase in just over 4 years.

Typically this type of property would rent for £475 per month.
Potential yield of 6.7%
This is a healthy yield.

The Estate Agent is Jon Brambles 01636 613513

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Two Bed Boom

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Terraced Houses

Since the start of this new year, we have had a rush of people looking for a 2 bed property to rent.

For a long time a 2 bed house, particularly a terrace, has been a popular choice for investors. This trend continues & shows that such properties are still top on the favourites lists for tenants too.

When we do our Eyes On… property of the week blog, we often showcase 2 bed terraced houses and there is a reason for this.
Certainly in the Newark area, a 2 bed terrace is a widely available type of property. They offer ideal living accommodation across the board from singles, couples, families & those enjoying retirement.

Typically, a 2 bed terraced property in Newark can reach between a 5% and 6.5% yield, making it a good, reliable investment.

If you have a 2 bed property in the Newark area or are looking to invest in such a property, please get in touch. We are seeing a big demand for these!

Here are a few links to some investment opportunities on the market today.

Hatton Gardens, Newark

Sleaford Road, Newark

Stanley Street, Newark

To keep up to date with industry news & local market news in Newark & Nottinghamshire, visit our blog

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New in Newark

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Rightmove Newark On Trent

Just a quick update on a couple of properties that have come onto the market this week which could be of interest.

First is a 3 bedroom semi detached house on Clumber Avenue, Newark.

Clumber Avenue, Newark

The property is located a stone’s throw from the hospital just off Bowbridge Road. Judging by the lack of internal photos you could assume it needs some work. Add the fact that the last 3 sales on the street are £80k, £93k and £95k I would expect you could nick this for something starting with an 8. Once done to a good standard you could achieve around £575 PCM.

At this level you could be looking at a potential yield of 6.90%. Give the agent a call on 01636 706444 to view.

The second property is a 2 bedroom semi detached house on Boundary Road, Newark.

Boundary Rd, Newark

Needing a full refurbishment, this property sits across from the Sconce within walking distance to the town centre and the hospital. Good properties are still very much in demand in Newark. Spend that little bit more on quality taps and tiles and you will see the return not only in the rent but the occupancy rate. Renovated to a good specification you could achieve £500-£525 PCM.

This could give you a potential yield of 6.30%. This property has just gone onto the market so call 01636 611666 to view.

If you are looking for your next investment, register on the left and we will keep you up to date with the latest opportunities.

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