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 potentialy 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 £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: Mill Gate Apartments, 11 Mill Gate, Newark NG24 4TR
Type: 2 Bed second floor apartment
Asking Price: £150,000
Estate Agent: William H Brown
Condition: Ready to Rent
Rent Range: £525-575pcm
Yield: 4.6%
Comments: Mill Gate apartments were built/renovated less than 1 year ago to a very good standard so no cosmetic work is required, it’s in a great town centre location and close to Newark Castle Station with views of the river, perfect for a professional couple.

Address: 3 Read Close, Fernwood, Newark, NG24 3FY
Type: 3 Bed mid-terrace
Asking Price: £145,000
Estate Agent: Newton Fallowell
Condition: Ready to Rent
Rent Range: £575-625pcm
Yield: 5.17%
Comments: Well presented home ideal for families and couples a like situated in the popular Fernwood establishment, number 1 sold in July for £130,000 without a conservatory in the same condition, what’s there to argue with?!

Address: 6 Simpson Way, Balderton, Newark, NG24 3RD
Type: 3 Bed end of terrace
Asking Price: £135,000
Estate Agent: Newton Fallowell
Condition: Ready to Rent
Rent Range: £550-600pcm
Yield: 5.33%
Comments: This private end terrace is tucked away in the older part of Balderton just a short distance from the A1 and several schools; as next door sold for £121,000 without a conservatory in June, it just needs a Gas Safety Cert to make it tenant ready.

Buttercross Best Buy
Address: 6a Wellington Road, Newark, NG24 1NJ
Type: 1 Bed first floor apartment
Asking Price: £78,500
Estate Agent: Alasdair Morrison
Condition: Ready to Rent
Rent Range: £350-400pcm
Yield: 6.11%
Comments: Just a short distance from town centre with permit parking, this little flat is ideal for a professional individual as the neutral decor and modern kitchen make it attractive and it means little to no work would be required for you, it’s hard to argue with that yield!

Address: 1 Sydney Street, Newark, NG24 1LX
Type: 2 Bed end of terrace
Asking Price: £110,000
Estate Agent: Haart
Condition: Some renovation required
Rent Range: £450-500pcm
Yield: 5.45%
Comments: Perfect spot for North Gate Station and town centre, the aging green tiles in the kitchen could do with coming down or painting white and matching doors would help, sadly the bedrooms didn’t get the memo about photo day so they’ve been left out!

Address: 1a Everest Court, Balderton, Newark, NG24 3PZ
Type: 2 Bed end of terrace bungalow
Asking Price: £116,950
Estate Agent: Richard Watkinson
Condition: Ready to Rent
Rent Range: £500-550pcm
Yield: 5.64%
Comments: Modern bungalow with a conservatory extension in Balderton close to local amenities and a regular bus service making it ideal for an older couple, the green bedroom carpet is the only real eyesore but the lovely kitchen makes up for it!

Address: 31 Sleaford Road, Newark, NG24 1NF
Type: 3 Bed mid-terrace
Asking Price: £120,000
Estate Agent: Jon Brambles
Condition: Ready to Rent
Rent Range: £525-575pcm
Yield: 5.75%
Comments: Good location for town centre and train stations making it great for families and commuters although the lack of parking could make it less desirable. The last two 3 beds sold last year for £108,500 and £110,000 in similar condition to this one, it may be worth an offer?

Address: 91 Hawton Lane, New Balderton, Newark, NG24 3EH
Type: 3 Bed mid-terrace
Asking Price: £125,000
Estate Agent: Newton Fallowell
Condition: Ready to Rent
Rent Range: £550-600pcm
Yield: 5.76%
Comments: Spacious and recently refurbished, this 3 bed is close to several schools and has enough space 4 for cars making it a good choice for families. Just a short walk to lake, these properties don’t appear often, grab it if you want it.

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….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.

Buttercross Best Buy
Address: 164 Barnbygate, Newark, NG24 1RQ
Type: 2 Bed mid-terrace
Asking Price: £109,950
Estate Agent: Now Homes
Condition: Ready to Rent
Rent Range: £450-500pcm
Yield: 5.46%
Comments: Fantastic spot for Barnbygate school with no additional work required, appealing kitchen/diner with a breakfast bar and a modern bathroom suite, you just need a tenant!

Address: 16 Shelley Close, Balderton, Newark, NG24 3LS
Type: 3 Bed bungalow
Asking Price: £139,950
Estate Agent: Kirkland and Lane
Condition: Complete update required
Rent Range: £600-650pcm (after update)
Yield: 5.57%
Comments: Bags of potential and it’s in a great area but that price is a bit cheeky! The last 3 bed sold in Sept 2015 for £125,000 in the same condition…

Address: 1 Woodcock Terrace, Fernwood, Newark, NG24 3UW
Type: 3 Bed end-of-terrace
Asking Price: £129,950
Estate Agent: Newton Fallowell
Condition: Ready to Rent
Rent Range: £500-550pcm
Yield: 5.0%
Comments: Bright and modern living in the popular Fernwood establishment, with a great school, two parking spaces and the A1 nearby, this lovely property ticks all the boxes for a lot of people.

Address: 39 Whitfield Street, Newark, NG24 1QX
Type: 2 Bed mid-terrace
Asking Price: £127,500
Estate Agent: Now Homes
Condition: Ready to Rent
Rent Range: £500-550pcm
Yield: 5.18%
Comments: Not what i expected! Pleasantly decorated throughout with the added bonus of a bright loft room and 2 further cellar rooms, perfect for a growing family, especially with Barnbygate School just around the corner.

Address: 17 Meldrum Crescent, Newark, NG24 4NZ
Type: 3 Bed semi-detached
Asking Price: £105,000
Estate Agent: William H Brown
Condition: Some modernisation required
Rent Range: £500-550pcm
Yield: 6.29%
Comments: A lick of paint wouldn’t go amiss along with an update in the kitchen, it’s a short distance from Holy Trinity Primary School making it ideal for families and the last 3 bed sold for £113,000 in Sept 2015, sounds fair to me!

Address: Dobson’s Quay, The Wharf, Newark, NG24 1EU
Type: 1 Bed Apartment
Asking Price: £100,000
Estate Agent: Jon Brambles
Condition: Ready to Rent
Rent Range: £425-475pcm
Yield: 5.7%
Comments: Right in town centre and ready to go, 1 bed apartments haven’t been on the market since 2006 however the last 2 bed sold for £96,000 in similar condition, is this priced correctly?

Address: 23 Albert Street, Newark, NG24 4BJ
Type: 1 Bed mid-terrace
Asking Price: £90,000
Estate Agent: Winkworth
Condition: Ready to Rent
Rent Range: £400-450pcm
Yield: 6%
Comments: Charming character terrace with a refurbished kitchen, perfect for a professional couple or individual, not to mention it’s close to the town centre and the Newark Castle train station, where do i sign?!

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… 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: 190 Barnby Gate, Newark, NG24 1RH
Type: 3 bed terraced house
Asking Price: £112,500
Estate Agent: Winkworth
Condition: Needs modernising
Rent Range: £525-575 pcm
Yield: 6.13%
Comments: Possibly the most random combination of decoration and carpeting I have seen. Barnby Gate is a busy street. Bought for £60,000 in 2003 and probably hasn’t been touched since.

Address: 4 Sam Derry Close, Newark, NG24 1FY
Type: End terraced house
Asking Price: £130,000
Estate Agent: Newton Fallowell
Condition: Ready to rent
Rent Range: £550-600 pcm
Yield: 5.54%
Comments: Looks like the developer is selling these off one by one. Next door (Number 3) sold for £116,000 so they will consider an offer. Boring fact alert, Google has decided that the street is Sam Berry Close. I’m sure Col Derry would not be too happy.

Address: 303 The Roundhead, Warwick Brewery, Newark, NG24 1TX
Type: 2 Bed apartment
Asking Price: £132,500
Estate Agent: Newton Fallowell
Condition: Ready to rent
Rent Range: £525-575 pcm
Yield: 5.21%
Comments: Love these apartments as they are finished well but not a fan of the high service charge and the quantity that are rented.

Address: 60 Appleton Gate, Newark, NG24 1LR
Type: 2 Bed terraced house
Asking Price: £119,950
Estate Agent: CPG Property
Condition: Ready to rent
Rent Range: £525-575 pcm
Yield: 5.75%
Comments: Nice house in a good location. Last sold for £95,000 in 2005. Looks a little small but don’t think the photos do it justice.

Buttercross Best Buy
Address: 33 Beacon Hill Road, Newark, NG24 2JH
Type: 3 Bed detached bungalow
Asking Price: £150,000
Estate Agent: Newton Fallowell
Condition: Needs modernisation
Rent Range: £850-900 pcm
Yield: 7.20%
Comments: Looks like an ideal property to flip. Those regular readers will know I love a good (bad) bungalow. This won’t be on the market long.

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… 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: 5a Chain Lane, Newark, NG24 1AU
Type: 2 Bed apartment
Asking Price: £84,950
Estate Agent: Sell It
Condition: Ready to rent
Rent Range: £375-425 pcm
Yield: 6.00%
Comments: Useful photo of the bunk bed. Interesting positioning of the shower. Lazy electrician?

Address: Eton Avenue, Newark, NG24 4JD
Type: 3 Bed semi detached house
Asking Price: £115,000
Estate Agent: CPG Property
Condition: Requires full refurbishment
Rent Range: £575-625 pcm (when refurbished)
Yield: 6.52%
Comments: Ridiculous price. Worth around £85-90,000. Would’ve had the Buttercross Best Buy if it was priced sensibly.

Address: 9 Village Way, Farndon, NG24 4SX
Type: 2 Bed semi detached bungalow
Asking Price: £134,950
Estate Agent: Richard Watkinson
Condition: Requires full refurbishment
Rent Range: £600-650 pcm (when refurbished)
Yield: 5.78%
Comments: Bungalows are always in good demand as so few come onto the market. Number 29 sold for £125,000 in very good condition. If it was £100,000 I’d still say it was overpriced.

Address: Worthington Road, Balderton, NG24 3RE
Type: 2 Bed terraced house
Asking Price: £120,000
Estate Agent: Jon Brambles
Condition: Ready to rent
Rent Range: £500-550 pcm
Yield: 5.50%
Comments: Tidy little property suitable for a couple or small family.

Buttercross Best Buy
Address: Gainsborough Drive, Newark, NG24
Type: 3 Bed semi detached house
Asking Price: £149,950
Estate Agent: Now Homes
Condition: Ready to rent
Rent Range: £625-675 pcm
Yield: 5.41%
Comments: Refurbished to an excellent condition. Good location north of the town centre. Highest sale on the street was number 5 for £135,000 in 2007.

Address: Mount Road, Balderton, NG24 3HF
Type: 3 Bed semi detached
Asking Price: £119,950
Estate Agent: Newton Fallowell
Condition: Probably needs updating
Rent Range: £600-650 pcm
Yield: 6.50%
Comments: More photos of the outside than the inside suggest it’s a tired property. Nothing on the street has sold for more than £105,000.

Address: 11 Park Crescent, Newark, NG24 2BY
Type: 3 Bed semi detached house
Asking Price: £125,000
Estate Agent: Lesley Greaves
Condition: Needs modernising
Rent Range: £600-650 pcm
Yield: 6.24%
Comments: Around the corner from Gainsborough Drive. Looks like the carpets and decorating need attention as a minimum. They paid £120,000 in 2009.

Address: 7 Century Street, Newark, NG24 1QP
Type: 2 Bed mid terrace
Asking Price: £94,950
Estate Agent: Jon Brambles
Condition: Cosmetic work required
Rent Range: £450-500 pcm
Yield: 6.32%
Comments: Quite a tight street this one. One of the larger ones on the street as it goes over the passage. Paid £100,000 in 2010. Last sale on the street was also by Jon Brambles for £92,000 a couple of years back.

Address: 55 Appleton Gate, Newark, NG24 1LN
Type: 2 Bed end terrace
Asking Price: £119,999
Estate Agent: Sell It
Condition: Cosmetic work required
Rent Range: £550-600 pcm
Yield: 6.00%
Comments: These houses tend to fetch £90-100,000. They paid £113,000 in 2007 so prices here still haven’t got back to where they were. Good location though.

Address: 12 Nicholson Street, Newark, NG24 1RD
Type: 2 Bed mid terrace
Asking Price: £130,000
Estate Agent: Newton Fallowell
Condition: Ready to rent
Rent Range: £550-600 pcm
Yield: 5.54%
Comments: Excellent condition. Looks like a lot of money has been spent on it hence the price tag. They haven’t been helped by the portfolio that went to auction earlier in the year across the way from them. They were in poor condition though.

Address: 33 Lovers Lane, Newark, NG24 1HU
Type: 3 Bed mid terrace
Asking Price: £120,000
Estate Agent: Jon Brambles
Condition: Ready to rent
Rent Range: £500-550 pcm
Yield: 5.50%
Comments: Small house on a busy street. Been recently renovated but they seemed to have missed the front door (only painted). Curious one as it looks to have been bought 6 months ago for £115,500.

Address: 17 Village Way, Farndon, NG24 4SX
Type: 2 Bed semi detached bungalow
Asking Price: £149,950
Estate Agent: Newton Fallowell
Condition: Cosmetic work required
Rent Range: £650-700 pcm
Yield: 5.60%
Comments: Occupying a larger plot and having been extended make this a much more appealing bungalow however you are paying for it. Priced much more realistically than Richard Watkinsons. Same price they paid for it in 2005.

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… Boundary Court, Newark

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This week we are talking about this 2 bedroom bungalow on Boundary Court in Newark.

Boundary Court is just off Boundary Road, which is a popular residential street, close to Sconce park.

It is in a very good location as it is near Newark town centre and also has close access to 2 major roads, the A46 and the A1.

Bungalows are surprisingly popular yet in short supply for rentals. We have had quite a number of requests for bungalows to rent, from a variety of tenants. Just today I had a young couple who love single story living but didn’t want the hassle of stairs so they are looking for a bungalow.

I tend to find that bungalows also hold their value well. They are often situated in convenient locations and in secure residential areas. They can sometimes command a higher rental compared to a 2 bed terrace for example.

From the outside it is quite a nice looking property but inside it would definitely benefit from a little TLC.

The photos are a little patchy. There are 2 of the kitchen and 2 of the lounge. I wonder what the wet room is like…

I should imagine from the lack of photographic evidence that the wet room is not quite as exciting as todays modern wet room designs but this is all the more interesting for an investor looking to add value.

The kitchen is dated. The lounge looks bland and tired. To get maximum returns it needs modernising and it needs cheering up.

For the price you are getting a detached 2 bed property that, due to its location, is bound to be popular with potential tenants. It is also next door to the Fire Station so quite handy for a spot of sight seeing.

This is on the market for £125,000

Once modernised, this type of property would typically rent out for £575 per month.

Potential yield of 5.52%

The last 3 sales in Boundary Court were
£73,000 in January 2012
£50,000 in May 2013
£65,000 in June 2015

The Estate Agent is Newton Fallowell 01636 857179

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Bungalow with potential in Newark On Trent

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Gainsborough Drive Newark

This 3 bed bungalow on Gainsborough Drive popped onto my radar a couple of weeks ago. The property is on the market with Newton Fallowell and although there has been an offer at full asking price, as its a corporate sale (repossession) so the agent can still show you round and put forward any offer to their client.

A few things stood out for me about this property…

  • There’s a good amount of room to the side and rear of the property meaning you could extend the footprint and add further rooms. (The place needs a lot of work anyway so you wouldn’t be ruining much.)
  • The bungalow is actually sat on a street full of houses so I’m sure that if you wanted to convert the loft there wouldn’t be much of a problem.
  • Location wise, you are just off Lincoln Road and less than a mile to the KnowHow distribution centre.

Added together, this seems to lend itself to a flip opportunity or House in Multiple Occupation (HMO). You could potentially create a 6 or 7 bed HMO that generates £31,080 in rent per annum (assuming £370 per room per month).

If you’re looking for higher yielding properties then come talk to us about potential investments around the area.

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Bank Holiday Buy To Sell Bungalow

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Priory Close

As it’s the bank holiday I thought I’d share a property worth a look at as a potential buy to sell opportunity. Bungalows are generally good properties to flip as they tend to come onto the market needing work, the end buyers have funds available and aren’t usually in a chain.

Number 4 Priory Close, Balderton is certainly ready for upgrading. It is located on a small cul-de-sac and is a short walk over to the Sainsburys.

This 2 bedroom semi detached bungalow has no chain and has been on the market coming up to 3 months. The agents will be speaking to the vendors about now (if they haven’t already) with regards to reducing the price so it will be in their mind. If you were to come in with an offer as a cash buyer they may just be interested.

Priory Close Kitchen

In terms of re-sale value, a detached 2 bed bungalow two streets away is listed as sold STC at £170,000. The other detached bungalow on the street is listed at a very ambitious price given the condition. I would envisage that this property would be listed at around £150,000 once renovated. Looking at the photos I’d think you wouldn’t need to spend over £14,000 on the refurbishment so if you could get the property for around £110-115,000 it could be turned around relatively quickly.

In terms of letting, once renovated you would be looking at around £500-550 pcm as there are so few quality bungalows on the market. As always, carry out thorough due diligence and make sure it’s the right investment for your strategy.

Winkworths are the selling agent and you can contact them on 01636 611666.

Have a fantastic bank holiday weekend.

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