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.

Here’s a quick reference guide to what is on offer, for how much and what you can expect as an investor!

Address: 41 smith street, Balderton, Newark, NG24 3BA
Asking Price: £109,950
Property Type: 2 Bed Mid-Terraced
Estate Agent: Jon Brambles
Condition: Ready to Rent
Rent Range: £500-550pcm
Yield: 6.0%
Comments: Well presented property with low running costs, good property for a couple or family on a budget. Current owners purchased it for £97,000 in June 2016 and aside from a couple of colour changes, it’s not changed since then.

Address: 8 Harrisons Way, Newark, NG24 1NS
Asking Price: £150,000
Property Type: 3 Bed Semi Detached
Estate Agent: Newton Fallowell
Condition: Ready to Rent
Rent Range: £575-625pcm
Yield: 5%
Comments: First purchased brand new in July 2013 for £121k, ideal first time investment as maintenance costs are going to be low and no work is required. It’s a 2 and a half bedroom so is likely to attract a professional couple as that small garden may put families off.

Address: 36 Kingsnorth Close, Newark, NG24 1PS
Asking Price: £134,950
Property Type: 3 Bed Semi Detached
Estate Agent: New home Agents
Condition: Unknown
Rent Range: £575-625pcm (assuming good condition)
Yield: 5.56%
Comments: from looking at floorplans of similar properties, it’s a good sized family home however it’s hard to say how much work is required as it seems to be camera shy. Could be worth though as it’s priced well for a quick sale.

Address: 2 Century St, Newark, NG24 1QP
Asking Price: £125,000
Property Type: 3 Bed Mid-Terrace
Estate Agent: Newton Fallowell
Condition: Ready to Rent
Rent Range: £525-575pcm
Yield: 5.52%
Comments: Popular location for families with Barnby Road Academy just round the corner; an immaculately presented #7 sold in Feb 2018 for £115,000 with a rear extension, i’m not sure why this house is £10k more?

Address: 84 North Gate, Newark, NG24 1HF
Asking Price: £110,000 (Auction Guide Price)
Property Type: 3 Bed Detached House
Estate Agent: J H Walter
Condition: Finishing touches Required
Rent Range: £600-650pcm
Yield: 7.09%
Comments: Love a character property (especially those beams!) however the lack of parking and a car garage as your neighbour may put potential tenants off. Work wise, carpets need laying in a few of the rooms and you’ll need to get an EPC done and hope that it’s at least an ‘E’ before you can let it out.

Address: 13 Newnham Rd, Newark, NG24 1HY
Asking Price: £99,950
Property Type: 2 Bed End Terrace
Estate Agent: Jon Brambles
Condition: Light Work Required
Rent Range: £450-500pcm
Yield: 6%
Comments: Unusual choice to put kitchen units in the dining room but whatever works, I’d loose the units and update that kitchen (eek!) but after that the rest of property can be left alone. Good budget property for first time renters.

Address: Ringrose Close, Newark, NG24 2JL
Property Type: 2 Bed Semi Detached
Asking Price: £135,000
Estate Agent: Purple Bricks
Condition: Ready to Rent
Rent Range: £500-550pcm
Yield: 4.90%
Comments: Good first time investment due to minimal upkeep although i’m unsure on that asking price but the last 2 bed sold in 2014. We recently let #56 for £550pcm and i don’t feel this is worth any more so if you want more yield you don’t to get negotiating!

Buttercross Best Buy
Address: Flat 2, The Old Chapel, Lovers Lane, NG24 1HU
Property Type: 1 Bed First Floor Flat
Asking Price: £45,000 (Auction Guide Price)
Estate Agent: Auction House
Condition: Ready to Rent
Rent Range: £400-450pcm
Yield: 12% (not including service charges)
Comments: Fantastic little apartment for a first time investor, we recently let #4 for £450pcm and would say the same for this one. Close to town and the train station..#GoForIt!

If any of these properties have caught your eye and you’d like to discuss 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 INVESTMENT PROPERTIES 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: Heron Way, Balderton, NG24 3DD
Asking Price: £150,000
Property Type: 3 Bed semi detached
Estate Agent: Jon Brambles
Condition: Some updating required
Rent Range: £575-625pcm
Yield: 5%
Comments: Lovely property in a great location with those magic 3 bedrooms, it would make a fantastic rental property with it’s low council tax banding and EPC ‘B’ making it cheap to run and appealing for tenants to run. Sadly the price is just too high for it to get a half decent yield, and that’s before you’ve updated the bedrooms and decorated the kitchen as the wallpaper isn’t overly easy on the eyes.

Address: The Tankard Building, Warwick Brewery, Newark, NG24 1TX
Asking Price: £140,000
Property Type: 2 Bedroom first floor apartment
Estate Agent: Newton Fallowell
Ground Rent: £100pa
Maintenance Charges: £1,131.74pa
Condition: Spotless although EPC too low – work required
Rent Range: £645-695pcm
Yield: 5.9%
Comments: Great character property with modern finishes, Warwick Brewery is an extremely popular development down to it’s location, finish and parking which is why you can charge nearly £700pcm for a 2 bedroom apartment. Sadly this apartment’s EPC rating is ‘F’ which could explain why the vendor is selling it as it was a rental property and as of April 2018, you won’t be able to start a new tenancy.

Address: 153 BarnbyGate, Newark, NG24 1RJ
Asking Price: £129,950
Property Type: 2 Bedroom Cottage
Estate Agent: Now Homes
Condition: Ready to Rent
Rent Range: £550-600pcm
Yield: 5.54%
Comments: Such a quirky little property just a short walk to town and Barnby Road Academy, perfect for a couple or small family that love a bit of character and fancy something a bit different. The EPC is pending so be sure to find out whether any work is required to get it up to date for April.

Address: George Street, Newark, NG24 1LU
Asking Price: £125,000
Property Type: 2 Bedroom end of terrace
Estate Agent: William H Brown
Condition: Light redecoration
Rent Range: £500-550pcm
Yield: 5.28%
Comments: Ideally located between town centre and North Gate station, within in 1/4 mile of the property in the last 6 months, 3 terraces of a similar style sold for £100k, £110k and £116k (3 bed) so this could be a little high but it’s your call. Property itself is pretty well presented, the busy wallpaper in the kitchen matched with the colourful tiles may be a bit much for some and the dark wood doors can be cheaply replaced.

Address: 8 Bridge Cottages, Newark, NG24 2ND
Asking Price: £112,500
Property Type: 2 Bedroom mid terrace
Estate Agent: Winkworth
Condition: Ready to Rent
Rent Range: £450-500pcm
Yield: 5.33%
Comments: Perfect budget friendly property in close proximity to Barnby Road Academy, ideal for a young family. There is plenty you could do this property to make it a £600pcm investment but there is the option to keep it as it is if you don’t want to spend money straight away; just hang on until the EPC comes through as you may be spending more than you expected!

Buttercross Best Buy
Address: Newnham Rd, Newark NG24 1HY
Guide Price: £35,000
Property Type: 3 Bedroom end of terrace
Estate Agent: SDL Auctions
Condition: Complete renovation required.
Rent Range: £525-575pcm (once renovated)
Yield: 10.61% (based on £30k spend)
Comments: Fantastic opportunity but not for the faint of heart! Perfect for an investor or first time buyer that doesn’t mind getting their hands dirty, quite a busy and tight street but it’s very close to the town centre, industrial estate and great access to the A1/A46. So will you be heading to the auction house?

Address: Chain Lane, Newark, NG24 1AU
Guide Price: £129,500
Property Type: 2 Bedroom second floor apartment
Estate Agent: Gascoines
Condition: Ready to Rent
Rent Range: £525-575pcm
Yield: 5.31%
Comments: An unusual opportunity for a generous two bedroom apartment smack bang in the middle of town, ideal mid week home for a commuter. There’s a contemporary but smaller apartment currently on the market for £575pcm above Natwest Bank, this property has oodles of space and is still modern but more of a cosy finish thanks to the beams and colour scheme.

Address: 7 Century Street, Newark, NG24 1QP
Guide Price: £115,000
Property Type: 2 Bed mid terrace
Estate Agent: Newton Fallowell
Condition: Ready to Rent
Rent Range: £500-550pcm
Yield: 5.74%
Comments: Immaculately presented home that is sure to please a lot of tenants, purchase in January for £90k, this property has been completely renovated from top to bottom aside from the kitchen units and tops and is unrecognisable in comparison. Only downside is that it’s an adopted road so the council won’t be maintaining it but if you can look past that it’s a great first time investment.

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: 1 Newton Street, Newark, NG24 1SU
Asking Price: £110,000
Property Type: 3 Bed End Terrace
Estate Agent: Newton Fallowell
Condition: Work Required
Rent Range: £525-575pcm
Yield: 6.27%
Comments: Great property for a young family thanks to Barnby Gate Academy located just around the corner and it’s only a short walk to the park and town centre. Cosmetically the property could really do with new carpets throughout, a fresh coat of magnolia (if you HAVE stick to that colour) and get the gloss out and ditch the dark woodwork. MOST importantly, this property is EPC ‘F’ meaning NOBODY can let it after April 2018, get in touch with Talk Green to find out what your options are.

Address: Williams Lane, Fernwood, Newark, NG24 3FN
Asking Price: £95,000
Property Type: 2 Bed Ground Floor Apartment
Ground Rent: not disclosed
Service Charge: not disclosed
Estate Agent: William H Brown
Condition: Ready to Rent
Rent Range: £450-495pcm
Yield: 6.25%
Comments: Popular Fernwood location that works for families and couples, particularly for the school and A1/A46 access, although i do think this is better suited to a professional couple due to size and wear and tear. The last 1st floor flat sold round the corner on Ainsdale Close in June for £72,000 with a very similar layout, allocated parking and slightly nicer decor so why this is £95k is beyond me.

Address: 4 Guildhall Street, Newark, NG24 1UH
Asking Price: £125,000
Property Type: 2 Bed Mid Terrace Cottage
Estate Agent: Richard Watkinson
Condition: Ready to Rent
Rent Range: £525-575pcm
Yield: 5.52%
Comments: Quirky cottage style terrace in Newark Town Centre, ideal for tenants using public transport with the bus and train stations just short walks from the property. Very difficult to compare the price as it’s so unusual, the lack of parking will put prospective tenants off and the style is very marmitey but you can’t please everyone regardless of what you buy!

Address: 124 Bowbridge Road, Newark, NG24 4DQ
Asking Price: £110,000
Property Type: 3 Bed Mid Terrace
Estate Agent: Newton Fallowell
Condition: Ready to Rent
Rent Range: £525-575pcm
Yield: 6.27%
Comments: Simple family home close to Holy Trinity School and the sports centre with the bonus of off street parking, it’s a bit of a vanilla property but it’s fine and you wouldn’t have to do a lot to it; i’d check whether that’s a furniture mark or damage to the living room carpet and consider losing the green in the bedroom. The price seems fair although it doesn’t have an EPC yet, you’ll need make sure it’s an ‘E’ or above unless you’re willing to spend the money to get it there.

Buttercross Best Buy
Address: Barrows Gate, Newark NG24 2FY
Asking Price: £90,000
Property Type: 2 Bedroom Ground Floor Flat
Ground Rent: £101 paid every 6 months
Service Charge: £986.27 per annum
Estate Agent: Martin and Co
Condition: Ready to Rent
Rent Range: £445-495pcm
Yield: 6.51% (inc SC and GR)
Comments: Great modern flat close to the A1/A46, town centre and KnowHow making this perfect for most professionals and a first time investor; the lack of magnolia, modern finishes and parking for both tenants and guests ticks additional boxes too. The last sale was back in 2014 but looking at the one above for £95,000 with a similar selling in Fernwood in June for £72,000, that should give you a rough idea, which would you prefer?

Address: 57 Jubilee Street, Newark, Nottinghamshire, NG24 4DA
Asking Price: £125,000
Property Type: 2 Bed Mid Terrace (previously sold as a 3 Bed?!)
Estate Agent: Haart
Condition: Light Redecoration Required
Rent Range: £500-550pcm
Yield: 5.28%
Comments: Lovely looking terrace close to town centre, the vendor purchased the property in Dec for £99,000 and since then they’ve had the living room beams covered and skimmed, decorated the bedrooms and living room along with new carpets and potentially skimmed the bedrooms; the bathroom and kitchen haven’t changed aside from the lack of paint on the back wall and there’s no photos of the dining room, i wonder if it still has a wood panelled ceiling and stone fire surround? Is the £26,000 increase worth 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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