EYES ON….THIS WEEKS INVESTMENT PROPERTIES IN NEWARK!!!

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Here’s a look at the latest properties coming to market in Newark. I’ve added some comments and given you an idea of what you can expect rent wise if you go for it, lets see what you think…

Address: 13 Belvoir Road, Balderton, Newark, NG24 3HQ
Asking Price: £135,000
Property Type: 3 Bedroom Semi- Detached House
Estate Agent: Purple Bricks
Condition: Update Required
Rent Range: £600-650pcm (top end once updated)
Yield: 5.77%
Comments: Property is need of an update, particularly the carpet bath and dated kitchen. If i was flipping it then i’d take the wall out to sort out the weird shaped kitchen but that’s a different level! Seems too expensive for what you’re getting.

Address: 16 Baines Avenue, New Balderton, Newark NG24 3BL.
Asking Price: £150,000
Property Type: 2 Bedroom Semi Detached House
Estate Agent: William H Brown
Condition: Ready to Rent
Rent Range: £550-600pcm
Yield: 4.8%
Comments: Previously listed with Alasdair Morrison in Dec 18 but clearly no buyers yet. Nice enough house, nothing to pick fault with. Don’t get much for £150k.

Address: MillGate Apartments, Mill Gate, Newark NG24 4TR
Asking Price: £140,000
Property Type: 2 Bedroom Apartment
Estate Agent: William H Brown
Condition: Ready to Rent
Rent Range: £525-575pcm
Yield: 4.92%
Comments: Well presented apartment converted just over 3 years ago. Good central location and allocated parking for those that commute. SC and GR not stated so i’d double check with Browns.

Address: 2 Mercia Road, Newark NG24 4NA
Asking Price: £140,000
Property Type: 3 Bedroom Semi – Detached House
Estate Agent: William H Brown
Condition: Minor Updates
Rent Range: £575-625pcm (top end once updated)
Yield: 5.36%
Comments: Purchased back in 2006 for £107k, bad advert previously so i can only comment on the kitchen being the same. Last sale was for £122,500 in April 19 in a similar condition but no garage. Dial down the colours and bed 2 looks like it may be ready for a carpet.

Address: 3 Old Mill Crescent, Newark. NG24 2HY
Asking Price: £125,000
Property Type: 3 Bed Semi-Detached House
Estate Agent: Newton & Fallowell
Condition: Ready to Rent
Rent Range: £550-600pcm
Yield : 5.76%
Comments: Seems to be priced well, last 3 bed sold for £124,950 in April 17. Aside from a bit of weeding, it’s ready to go, if i’m being really picky then maybe get rid of the living room wallpaper but it’s not offensive.


Address: Flat 2, 5 Church Walk, Newark, Nottinghamshire, NG24 1JS
Asking Price: £90,000
Property Type: 1 Bedroom First Floor Apartment
Estate Agent: Richard Watkinson & Partners
Condition: Ready to Rent
Rent Range: £445-495pcm
Ground Rent: £50 PA
Service Charge: £700 PA
Yield: 6.55% (inc SC and GR)
Comments: Fantastic town centre location, lack of parking is going to put some people off. Ideal for a commuter. Purchased for £94,175 when it was first converted in 2007. Never far from a good coffee either!

So that’s this weeks selection, quite a few reductions so not too much choice. Not really anything worth going for this week but feel free to give me a call on 01636 343014 or even pop in to the office for a chat to let me know what you think :).

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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….The Investment Property of The Week in Newark!!

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

Address: 20 Shakespeare Street, Balderton, Newark, NG24 3AN
Type: 3 Bed Semi Detached House
Asking Price: £139,950
Estate Agent: Winkworth
Condition: Requires renovation
Rent Range: £625-675pcm (once completed)
Yield: 5.8%

Brilliant property in a great location with so much potential, perfect as a buy to let or first time buy as long as you don’t mind getting your hands dirty! Tenants love a spacious house in the right location but they don’t like old and outdated so bare that in mind, good tenants rent good houses.

Wondering where to start? Well, the kitchen and bathroom are a MUST, the carpeted bath panel and tiles from yesteryear may have been of their time but they certainly aren’t now, a simple white suite with fab floor tiles and neutral walls will attract tenants or potential buyers if you’re wanting a fix and sell; if you have the budget, floor to ceiling tiles and a good quality shower will add the wow factor. As for the kitchen, i’m not sure they thought the layout through when they first built it, the pantry/utility is a great bonus but next to no worktops will certainly put families off, where are you meant to put anything?! Decoration aside, if the radiator was moved or even removed entirely, units and a worktop could be installed adding much needed storage and space. As for the rest of the house, the bedrooms are bearable in magnolia and could be left alone, the only other room that really needs updating is the lounge, get rid of the pink carpet and green walls and go for a simple mocha shaded carpet and neutral walls but ideally NOT magnolia!

The last property on Shakespeare Street sold in Feb 2017 for £134,450 with an appealing modern interior, high gloss kitchen and plenty of off street parking along with a well presented rear garden and just 2 bedrooms. We let a 3 bedroom semi-detached property on Shakespeare Street earlier this year for £650pcm, it was in a similar condition to this property initial but after hours of effort from the landlord, it was let with a fabulous high gloss kitchen, stunning bathroom and neutral carpets and decor throughout.

This will be a fantastic investment to get stuck into, at around £15,000 to get the property to a high standard, it’s going to take time to make it back but £675pcm will help you get there in no time! We had a lot of interest in the last property and we actually let it mid refurb, the right tenant will see the potential and jump at the opportunity to live in a high end family home. Let us know how you get on!

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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Further Reductions….

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..in prices and new properties.

So, i’m sat down looking at this weeks property additions to Rightmove and i’m faced with 13 properties of which 1 is tenanted, 2 are shared ownership and 6 are reduced leaving just 4 new properties in the last 7 days, the first thing i notice is how uninspiring the selection is but that aside, a) what’s with all the reductions and b) where are all the new properties? Let’s take a look…

The number of price reductions on properties, regardless of size, age or finish, are slowly increasing week on week with this weeks being particularly high, the question is: is it because the amount of potential buyers have decreased so owners are forced to lower the asking price to tempt buyers or are estate agents pricing them too high in the first place to give the vendor the figure they want to hear not what it’s worth? A new listing at the bottom of Beacon Hill Road has been advertised for £150,000, it’s a 3 bedroom mid terrace with no parking or distinguishing features on a very busy section of road; number 72, a slightly large 3 bed terrace wit a bay window, sold in March this year for £126,000 so already alarm bells are ringing, the other property is destined for a price drop just days in.

According to The Telegraph, the number of new instructions has fallen for the sixteenth month in a row and the reason? It would appear that the lack of uncertainty is making people cautious when both buying and selling, between the snap election and brexit, it’s no wonder people aren’t sure what’s best to do with no sign of things changing anytime soon. The Royal Institution of Chartered Surveyors have noticed in its residential market survey in June that the average supply of stock has hit another record low, with lower numbers of agreed sales. Lucian Cook, head of residential research at Savills said “It is uncertainty on the back of more uncertainty, so perhaps it is factored into the survey,”.

Hopefully this time next week i’ll be back with a fantastic investment property or two but based on this weeks bunch, i’m not convinced any new properties are worth investing!

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Eyes On… Braemer Road, Collingham

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Braemer Road

This week we are talking about this 3 bedroom semi detached house on Braemer Road in Collingham.

I have moved my focus this week a little outside of Newark to the popular village of Collingham.

This village is a prime spot for families as there is a good junior school & local shops, a doctors surgery, dentist, pubs… all the essentials for parents and kids.

This property would certainly benefit from a bit of a makeover. A couple of the walls are perhaps a little loud and fussy and it has a somewhat dated feel to it.

It has been a while since I saw an avocado bathroom suite but putting a white one in its place would instantly lift it.

This property and its location would suit a family with children, probably on a long term let, certainly while the kids are at school.

Space wise it has a lot going for it. Downstairs, a utility for muddy boots plus a pantry and a separate store room.
Upstairs, three bedrooms and a bathroom, everything you would expect from a family home.

The garden has quite an interesting feature… a pond with an army of gnomes surrounding it. Not to everyones taste but the kids would love it.

We get a lot of enquiries for town living but there are also many families who would rather live in a village, walk to the village school and experience village life.

Collingham has always been a popular village with a rural feel yet it is close to both Newark and the city of Lincoln with its amazing Cathedral and Castle.

This is on the market for £124,995
The last sale on the street in January 2015 was for £122,750

Typically this type of property would rent for £550 to £595 per month.
Potential top yield of 5.7%

The Estate Agent is Richard Watkinson 01636 611811

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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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