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

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Lovely sunny day today, yay! 20 properties this week on Rightmove however only 7 to talk about, crazy i know, as several were just relisted with others agents, some with multiple agents and sadly a lot of reductions. Properties from £100k to £140k this week so you have a bit more change left over. I’ve added some comments and given you an idea of what you can expect rent wise if you go for it.

Address: 70 Main Street, Balderton, Newark
Asking Price: £120,000
Property Type: 2 Bed End Terrace
Estate Agent: Edlin and Jarvis
Condition: Needs dialling down
Rent Range: £500-550pcm
Yield: 5.5%
Comments: Colourful property on a busy street in Balderton, i love a bit of colour but for a rental property they’re just a bit too bright when you’re trying to attract as many potential tenants as possible. Last on the market in 2013 by the vendors withdrew it, it looked much duller back then!

Address: 5 The Willows, Farndon, Newark, NG24 3TE
Asking Price: £119,000
Property Type: 2 Bed Ground Floor Flat
Estate Agent: Martin and Co
Condition: Ready to Rent
Rent Range: £425-475pcm
Yield: 4.8%
Comments: Bought back in to 2016 for £92k, no photos so unsure of the level of update. EPC won’t open so unknown rating, garden makes a nice bonus. Farndon is popular and has good access to A46.

Address: 17 Harcourt Street, Newark, NG24 1RG
Asking Price: £117,500
Property Type: 2 Bed Mid Terrace
Estate Agent: Winkworth
Condition: Already Tenanted
Rent Range: £500-550pcm
Yield: 5.6%
Comments: Already tenanted for £525pcm however it’s EPC F so you will have to spend some money on the property within the next 12 months as even tenanted properties need to be E or above by 1st April 2020.

Address: Gamage Close, Balderton, Newark, NG24 3QA
Asking Price: £109,950
Property Type: 2 Bed Semi-Detached Bungalow
Estate Agent: Newton Fallowell
Condition: Refurbishment Required
Rent Range: £525-575pcm (once refurbished)
Yield: 5.5% (once refurbished, based on £15k spend)
Comments: Perfect property for someone that fancies getting their hands dirty, currently EPC E and requires renovating all the way through.

Address: 173 Barnby Gate, Newark, NG24 1QR
Asking Price: £100,000
Property Type: 2 Bed Mid Terrace
Estate Agent: Martin and Co AND William H Brown
Condition: Light work required
Rent Range: £500-550pcm
Yield: 6.6%
Comments: On with two agents straight away so they must be keen to get rid. The red carpet really needs to go and the brickwork makes the room feel dated, red bedroom wall not ideal either. #159 sold in May for £95k in similar condition.

Address: 29 The Crossings, Newark, NG24 1TY
Asking Price: £100,000
Property Type: 2 Bed First Floor Apartment
Estate Agent: Just Move Estate Agents
Service Charge: £926.30 PA
Ground Rent: £100 PA
Condition: Ready to Rent
Rent Range: £500-550pcm
Yield: 6.5% (inc SC and GR)
Comments: Lovely looking apartment in a good location, electric heating doesn’t please everyone but we’ve not had difficulty letting apartments in this block previously. Purchased in July 2016 for £92,500.

Buttercross Best Buy
Address: 10 Sydney Terrace, Newark, NG24 4DB
Asking Price: £100,000
Property Type: 2 Bed End of Terrace
Estate Agent: Newton Fallowell
Condition: Ready to Rent
Rent Range: £500-550pcm
Yield: 6.6%
Comments: Ready to go, downstairs bathroom is a marmite one but the house looks great so the right tenant will look past it. Just need to wait for the EPC before you go for it, can’t fault this one!

So that’s this weeks selection, a couple of good potential investments here, 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 £160,000. With a slow down in new properties coming to the market we have seen more properties reduced than come onto the market so we’ve upped the value to £160,000.

A quick reference guide to what is on offer, for how much and what you can expect as an investor.

Address: Hill Vue Gardens, Newark, NG24 1PH
Type: 3 Bedroom Detached Bungalow
Asking Price: £160,000
Estate Agent: Tanners
Condition: Needs a full refurbishment
Rent Range: £700-750 pcm
Yield: 5.63%
Comments: Outrageous price given number 21 sold for £132,000 in the same condition a couple of years back. An example of an estate agent “buying” the business.

Buttercross Best Buy
Address: 26 Hawton Lane, Newark, NG24 4QB
Type: 2 Bedroom Detached Bungalow
Asking Price: £160,000
Estate Agent: Jon Brambles
Condition: Needs a full refurbishment
Rent Range: £725-775 pcm
Yield: 5.81%
Comments: Glad to see this on the market as one of Newark’s long term empty properties. Better location than the one above and more potential for a flip (at the right price).

Address: 1 The Malthouse, Newark, NG24 1LA
Type: 2 Bedroom Duplex Apartment
Asking Price: £145,000
Estate Agent: Jon Brambles
Condition: Ready to rent
Rent Range: £650-700 pcm
Yield: 5.79%
Comments: Excellent use of lighting and a fantastic bathroom. Popular location for professionals.

Address: 15 Heron Way, Balderton, NG24 3DD
Type: 2 Bedroom Semi Detached House
Asking Price: £135,000
Estate Agent: Now Homes
Condition: Ready to rent
Rent Range: £600-650 pcm
Yield: 5.78%
Comments: Might need a new bathroom suite given there is no photo. Semi detached houses are always popular in Balderton. Keep in mind that it was bought for £101,000 in 2013.

Address: 38 Pelham Street, Newark, NG24 4XD
Type: 2 Bedroom Mid Terraced House
Asking Price: £115,950
Estate Agent: Sell It
Condition: Standard
Rent Range: £475-525 pcm
Yield: 5.43%
Comments: Looks fairly well looked after. Having a garage at the rear is a plus. Last registered sale was £96,000 in 2004.

Address: Witham Close, Newark, NG24 2HD
Type: 2 Bedroom Detached House
Asking Price: £140,000
Estate Agent: Jon Brambles
Condition: A little dated
Rent Range: £625-675 pcm
Yield: 5.79%
Comments: Bright and tidy house. Could probably do with a new kitchen to achieve a higher rent. Not a brilliant location.

Address: The Ivies, Farndon Road, Newark, NG24 4SR
Type: 3 Bedroom Terraced House
Asking Price: £160,000
Estate Agent: Newton Fallowell
Condition: Ready to rent
Rent Range: £700-750 pcm
Yield: 5.62%
Comments: Love the kitchen and bathroom. The bath reminds me of half a Babybell. Guessing that the cameraman was wonky rather than the lounge.

Address: Broome Close, Balderton, NG24 3DE
Type: 3 Bedroom Detached House
Asking Price: £159,950
Estate Agent: Newton Fallowell
Condition: Ready to rent
Rent Range: £725-775 pcm
Yield: 5.81%
Comments: Huge garden and looks pretty low maintenance. Inside looks neutral and ready to rent. Spot the boggley-eyed donkey.

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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