Newark Landlord Seminar

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This FREE event is for landlords and soon-to-be landlords looking for the latest advice and legal updates in the property sector. Attending the event will give you ideas and actions to get more from your investments.

Agenda
17:30 Registration & Networking
18:00 “How to keep more of your rental profit” –  Simon Shaw, Duncan & Toplis Chartered Accountants
18:15 “Evicting tenants” – Ross Pierrepont, Tallents Solicitors
18:30 “Property pitfalls” – Daniel Otton, Buttercross Estates

18:45 Q&A & Networking
19:15 Close
Location: Beacon Centre, Cafferata Way, Newark, NG24 2TN.

Refreshments will be provided and pre-registration is required as numbers are limited.

Register here.

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

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I’m Sam and I’m at Buttercross Estates this week doing work experience so I’ve taken over the blog in place of Abi.
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, let’s see what you think.

Address: 8 Stirling Drive, Coddington, Newark NG24 2TB
Asking Price: £160,000
Property Type: 3 Bedroom Semi – Detached House
Estate Agent: Newton Fallowell
Condition: Ready to Rent
Rent Range: £645-£695pcm
Yield: 5.21%
Comments: Current vendor bought it for £147,500 18 months ago, a bit odd to sell so soon, why? V.popular area for rentals but rare to get so may be worth considering. Parking, garage and close to popular school – good family home. Consider decorating bed 2 to keep options open.

Address: 11 Derwent Court, Balderton, Newark NG24 3NF
Asking Price: £150,000
Property Type: 3 Bedroom Semi- Detached House
Estate Agent: Newton & Fallowell
Condition: Update required
Rent Range: £600-650pcm (after updated)
Yield: 5.2% (excluding update costs)
Comments: #8 recently sold for £158k back in May in a better condition, some refurbishing needs to be done to open a wider audience as not everyone likes the look of 1980s interior. The property is also near a Sainsburys and the A1. 150k maybe too much for how much needs to be done.

Address: Marton Road, Newark NG24
Asking Price: £130,000
Property Type: 2 Bedroom Semi – Detached House
Estate Agent: Edlin & Jarvis
Condition: Ok condition some work will need to be done.
Rent Range: £550-625pcm (depending on how much refurbishing is done)
Yield: 5.76%
Comments: A very fair asking price as a very similar property sold for 170k last July, however some work would need to be done to match that price it would be foolish to pass this opportunity up.

Address: 14 The Tryst, Newark, NG24 1JG
Asking Price: £130,000
Property Type: 2 Bedroom End of Terrace
Estate Agent: Purple Bricks
Condition: In need of refurbishment
Rent Range: £450-500pcm (after modification)
Yield: 4.62%
Comments: 130k may be weighing on the more expensive side as in the past these houses have been going for around 100k, however the location is very good; a train station, a row of many different shops and near the centre of town. But the fact that the current owner hasn’t seem to updated much in nearly 2 decades makes the asking price of 130k rather surprising.

Address: 6 Rowan Way, New Balderton, Newark NG24 3AU
Asking Price: £110,000
Property Type: 2 Bedroom Apartment
Estate Agent: Newton & Fallowell
Condition: Good
Rent Range: £450-475pcm
Yield: 5.18%
Comments: Current vendor originally bought it for £90,500 back in May 2018, however they’ve had significant work carried out. I think 110k is an good asking price due to the modification that’s been applied.

Address: 10 Huddlestones Wharf, Newark, Nottinghamshire, NG24 4UL
Asking Price: £90,000
Property Type: 1 Bedroom Flat
Estate Agent: Richard Watkinson & Partners
Condition: Ok but needs some work done on a new kitchen
Rent Range: £375-400pcm
Yield: 5.33%
Comments: Originally bought back in 2012 for 75k. The asking price of 90k is a decent price, but is in need of a new kitchen as it hasn’t change much is the past 7 years. In comparison to that the location next to the River Trent and the centre of town is perfect and only adds more to the value.

Sam’s Star Buy:
Address: 21 Hatton Gardens, Newark NG24 4BU
Asking Price: £85,000
Property Type: 3 Bedroom Terraced House
Estate Agent: Richard Watkinson & Partners
Condition: Poor
Rent Range: £575-625pcm (after serious work done)
Yield: 8.82% (excluding modification costs)
Comments: There’s a reason its for 85k serious modification is needed, back in July 2017 an updated version of this house sold for 118k. It’ll be a leniently investment to cover the cost of the refurbishing but some serious money could be made with a yield of 8.82%.

Some good picks this week but 14 the Tryst which I would give a miss unless the owner is willing to go all the way down to around 100k. 11 Derwent Court is also quite a steep asking price for the work required. This weeks POTW was a tricky one between 21 Hatton Gardens and Marton road, however I chose Hatton Gardens as I feel once the work has been done there’s a pretty penny to be made a true diamond in the rough (pun intended). Feel free to give me a call on 01636 343014 or even pop in to our brand new office for a chat to let me know what you think.

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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: 1a Albert Avenue, Balderton, Newark, NG24 4HE
Asking Price: £150,000
Property Type: 2 Bedroom Semi-Detached House
Estate Agent: Jon Brambles
Condition: Ready to Rent
Rent Range: £545-595pcm
Yield: 4.76%
Comments: Bought in Sept 18 for £145k, this property hasn’t changed and has been for sale since August, they’ve just changed agents. Lovely looking house but you just don’t get a lot of space for your money.

Address: 70 Lime Grove, Newark NG24 4AH
Asking Price: £150,000
Property Type: 3 Bedroom Terraced House
Estate Agent: William H Brown
Condition: Ready to Rent
Rent Range: £600-650pcm
Yield: 5.2%
Comments: This was my POTW two weeks ago when it went on with Winkworth, i’m guessing it’s changed as Winkworth Newark has closed (although they advertised it better!). Scroll down to see my previous property comments.

Address: 59 Clarks Lane, Newark NG24 2EF
Asking Price: £144,950
Property Type: 3 Bedroom Semi – Detached House
Estate Agent: NOW Homes
Condition: Ready to Rent
Rent Range: £600-650pcm
Yield: 5.38%
Comments: Purchased in 2016 for £99,692, it’s been carpeted and decorated throughout and the white bathroom suit is new. Kitchen, sadly, is the original..it’s blue! Located at the end of Strawberry Hall Lane so the location is a bit marmite-y.

Address: 11 Clayton Close, Newark NG24 4HN
Asking Price: £140,000
Property Type: 2 Bedroom Semi – Detached House
Estate Agent: Newton & Fallowell
Condition: A little dated
Rent Range: £550-600pcm (once updated)
Yield: 5.14%
Comments: Bungalow’s are rare and often desirable rentals. This one is a little dated, particularly the decor and the bathroom is looking older than the kitchen although both would benefit from a re-fit. Check out the EPC before committing.

Address: 10 Thoresby Avenue, Newark NG24 4DJ
Asking Price: £140,000
Property Type: 3 Bedroom Semi – Detached House
Estate Agent: Newton & Fallowell
Condition: Ready to Rent
Rent Range: £575-625pcm
Yield: 5.36%
Comments: This house has had a major refurb since it was bought in Aug 13 for £99k. No EPC and no mention of a recent boiler fitment so worth checking those first, EPC needs to be E and above!

Buttercross Best Buy
Address: 85 Lime Grove, Newark NG24 4AQ
Asking Price: £130,000
Property Type: 3 Bedroom Terraced House
Estate Agent: Newton Fallowell
Condition: Odd jobs required
Rent Range: £600-650pcm (once odd jobs done)
Yield: 6% (exc renovation costs)
Comments: Good potential, the bathroom and kitchen need a good clean (i’d change the bathroom if poss). I’d check if the leak if the roof is new or old too – paint the ceiling if old (don’t forget the stain block!). Bedroom carpet is looking thin. Oven isn’t looking great, it will need to be checked each year as it’s gas, if it’s on the way out, i’d get the gas capped and swap to electric.

Address: 7 Carlton Road, Newark, NG24 4HD
Asking Price: £130,000
Property Type: 3 Bedroom Semi – Detached House
Estate Agent: Newton & Fallowell
Condition: Ready to Rent
Rent Range: £550-600pcm
Yield: 5.53%
Comments: A fairly vanilla house, bathroom needs finishing off but that’s it really. I’d recommend changing the decor to something more neutral to help let the property however, i’d be inclined to leave it be for this house as i’m not sure you’d see the return unless you do the decorating yourself.

So that’s this weeks selection, there’s been an increase of ex council properties of late, at least a couple a week. 85 Lime Grove would be a good one to make some money on in the long run, especially if you can do the simple jobs yourself. Albert Avenue is another great property, i was torn and nearly pushed the value higher but i can’t be sure as it’s quirky! Struggling to give you a property of the week though from these, i’d pick Lime Grove fixer upper. 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 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…hopefully a better selection than last week!

Buttercross Best Buy
Address: Flat 5 Main Street, Balderton, Newark, NG24 3NU
Asking Price: £140,000
Property Type: 2 Bedroom First Floor Apartment
Estate Agent: Jon Brambles
Condition: Ready to Rent
Rent Range: £575-625pcm
Service Charge: £960 PA
Ground Rent: £130 PA
Yield: 5.31% (inc SC and GR)
Comments: Really well presented apartment, perfect for a couple or single person. You’ll struggle to make any more money on it unless house prices naturally rocket. “New Build” in May 16, vendors paid £137,500.

Address: 26 Nicholson Street, Newark, NG24 1RD
Asking Price: £140,000
Property Type: 3 Bed Mid Terrace
Estate Agent: Richard Watkinson
Condition: Ready to Rent
Rent Range: £545-£595pcm
Yield: 5.1%
Comments: Good starter property for both LL’s and tenants, good EPC, low council tax band. Lots of terrace’s to let so harder to stand out but good pics and price will help. No work needed, tenants just need to be ready for 2 sets of neighbours!

Address: 3 Newstead Avenue, Newark, NG24 1ND
Asking Price: £130,000-140,000
Property Type: 2 Bedroom Semi-Detached
Estate Agent: Newton Fallowell
Condition: Update Required
Rent Range: £525-£575pcm
Yield: 4.92%
Comments: Two great sized bedrooms and plenty of living space, a little dated in all honesty, the kitchen really lets it down…can’t decide what’s on the floor either..carpet effect vinyl?! More £130k than £140k.

Address: 10 Edward Avenue, Newark, NG24 4UZ
Asking Price: £130,000
Property Type: 3 Bed Mid Terrace
Estate Agent: Jon Brambles
Condition: Ready to Rent
Rent Range: £525-£575pcm
Yield: 5.30%
Comments: The unpainted woodwork and country-esk colours work well due to the age, i’d leave them be. Downstairs bathroom is more often than not a negative for tenants.

Address: Montgomery Road, Newark, NG24 4HA
Asking Price: £125,000
Property Type: 3 Bed Mid Terrace
Estate Agent: Newton Fallowell
Condition: Ready to Rent
Rent Range: £550-£600pcm
Yield : 5.76%
Comments: Need to finish the decor in the living room, ready to go other than that. The striped paper may not be for everyone but it’s not offensive. Lovely kitchen and bathroom. Last sale May 18, #14, 3 bed semi, £105,500 in the same condition.

Address: Lindum Street, Newark, NG24 1NH
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: #13 sold in June 18 for £124k with only 2 bedrooms…VERY well presented though. This property is fine, a bit vanilla and bed 3 is a bit tiddly. EPC is pretty low, just to be aware of if the min rating changes then you’ll be in hot water.

Address: 26 Bowbridge Road, Newark, NG24 4BZ
Asking Price: £115,000
Property Type: 2 Bed Mid Terrace
Estate Agent: Martin and Co
Condition: Ready to Rent
Rent Range: £475-525pcm
Yield: 5.47%
Comments: The photos are not helping this house at all…wowzers. The dark wallpaper needs to go in Bed 1 to help it feel lighter, no idea what bed 2 looks like. Bought for £83,320 in July 13, honestly it looked better before.

Address: Sleaford Road, Newark, NG24 1NG
Asking Price: £110,000
Property Type: 2 Bed Mid Terrace
Estate Agent: Newton Fallowell
Condition: Update Required
Rent Range: £500-£550pcm (nearer £550pcm when done).
Yield: 6%
Comments: Not looking great, 1 bed and bathroom need flooring, walls marked so i’d recommend just decorating throughout. Coffee wallpaper and 3 diff types of tile in the bathroom?! Less than £500pcm at present.

Address: Stephen Road, Newark, NG24 2BG
Asking Price: £100,000 – £110,000
Property Type: 3 Bed Semi-Detached
Estate Agent: Jon Brambles
Condition: Ready to Rent
Rent Range: £550-£600pcm
Yield: 6.54%
Comments: 3 Bed #30 sold for £130k in Nov 18 in a similar condition, not really sure why this is so much less! Neutral throughout, no EPC issues, ex council property.

So that’s this week’s selection, we’ve got terraced houses coming out of our ears!! I wouldn’t normal recommend a flat as it’s harder to increase income over time but it’s really quite lovely and i think it would let well. 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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Newark On Trent Property Market Statistics to May 2019

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It’s been quite a while since our last update so we wanted to share with you the changes to the market in NG24 as we have seen it during 2019. Data has come from properties we have let, Land Registry and Home.co.uk. We’d love to know how your property compares so please leave any comments below.

(Figures in brackets are from the last update)

Average Monthly Rent In Newark

£590 (£599) – Let by Buttercross Estates
£564 (£542) – According to Home.co.uk

Average Monthly Rents By Type

£492 (£485) – Flats
£585 (£599) – Terrace
£645 (£624) – Semi Detached
£749 (£898) – Detached

Average Monthly Rents By Postcode District

£554 (£564) – NG24 1
£616 (£608) – NG24 2
£591 (£569) – NG24 3
£622 (£679) – NG24 4

Average Weekly HMO Room Rate

£84 (£86) – Standard
£110 (£120) – En-Suite

Total Value Of Properties Sold

£61,097,116 (January to May 2019)

Average House Price By Type (Sold Price Data)

£104,595 (£104,251) – Flats – 22 total
£131,003 (£128,643) – Terrace – 107 total
£174,237 (£148,916) – Semi-Detached – 125 total
£242,060 (£233,749) – Detached – 95 total

Average Gross Yield By Type

5.64% (5.58%) – Flats
5.35% (5.58%) – Terrace
4.44% (5.02%) – Semi Detached
3.71% (4.61%) – Detached

Sales data has been released up to the end of May. Interestingly there have been practically the same number of sales for this period Jan-May (349) as there were for the same period in 2018 (348). If the rest of the year also follows 2018 then we will see another 604 sales before the fireworks over London Eye.

House values rose across the board with semi detached homes rising the most significantly (17%). Despite the price rises there were still bargains to be had, 2 Charles Street was snapped up for £60,000 and 80 Barnby Gate for £64,000. In all, 9 flats and 18 terraced houses sold for under £100,000.

At the other end of the market, the most expensive home sold was a 3 bedroom detached house, 4 North Church Walk which has lovely views over St Mary Magdalene Church. This sold for a cool £450,000.

If you’re looking to invest in Newark or the surrounding areas and want a bit of guidance, our door is always open. It’s easy to buy the wrong property and this could be a very costly mistake. Call today to book your slot 01636 343014.


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 INVESTMENT PROPERTIES IN NEWARK!!

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Another chilly day in Newark and another week of properties to poke around! We’ve got 8 new potential investments this week from £120k to £150k in various styles and locations. I’ve added some comments and given you an idea of what you can expect rent wise if you go for it.

Address: Clarks Lane, Newark, NG24 2EF
Asking Price: £140,000
Property Type: 3 Bed Semi Detached House
Estate Agent: Purple Bricks
Condition: Ready to Rent
Rent Range: £550-600pcm
Yield: 5.14%
Comments: Good little house, the garage has been removed for additional living space and good spot tenants working at Knowhow and NSK. Just note that properties in this area take longer to rent than others.

Address: 2 Friary Rd, Newark NG24 1LE
Asking Price: £150,000
Property Type: 3 Bedroom Terrace
Estate Agent: Newton & Fallowell
Condition: Ready to Rent
Rent Range: £545-595pcm
Yield: 4.76%
Comments: Really well presented house with no work required, lack of parking may put tenants off and the same with the downstairs bathroom. EPC E so bare in mind that regulations may change so you’ll need to spend money.

Address: Warwick Brewery, The Cavalier Building, Newark, NG24 1TL
Asking Price: £135,000
Property Type: 2 Bedroom First Floor Duplex Apartment
Estate Agent: Belvoir!
Condition: Minor Work
Service Charge: TBC
Rent Range: £600-650pcm
Yield: 5.77% (exc service and maintenance charges)
Comments: Popular apartment block, no work required but the electric heating isn’t for everyone. Service and maintenance charges are often around £1k here so check before committing.

Address: 36 Pinfold Lane Balderton, Newark NG24 3LP
Asking Price: £125,000
Property Type: 3 Bedroom Mid Terrace
Estate Agent: Richard Watkinson & Partners
Condition: Minor Work
Rent Range: £525-575pcm
Yield: 5.52%
Comments: A bit vanilla, pretty spacious but just not overly inspiring. Busy road with minimal parking. Lose the blue tiles in the kitchen, paint the woodwork white in the dining room if nowhere else to make it lighter (no window!). Could rent as is for £525pcm but you’ll get better and longer tenants if you spruce it up.

Buttercross Best Buy
Address: 2 Dovedale Terrace, Fernwood, Newark, NG24 3UU
Asking Price: £122,950
Property Type: 2 Bedroom Mid Terrace House
Estate Agent: Newton & Fallowell and Haart
Condition: Ready to Rent
Rent Range: £525-575pcm
Yield: 5.61%
Comments: On with two agents, someone’s keen to get rid! They’ve only been in since March last year..hopefully it’s not bad neighbours. Bought for £117,500, it’s not changed aside from the master bedroom; we let the same property style on Rubys Walk last year for £575pcm.

Address: 6 Whitfield Street,Newark NG24 1QX
Asking Price: £120,000
Property Type: 2 Bedroom Terrace
Estate Agent: The Nottingham Estate Agency
Condition: Neutralise!
Rent Range: £500-550pcm
Yield: 5.5%
Comments: Purchased for £109k in 2015, no previous photos of the bathroom but it looks pretty new along with a bit of paint and marvel wallpaper! Big marvel fan but i’d suggest losing it and maybe update those kitchen tiles if you can. Seems cheap, last couple of two beds have sold for £132,500 and £120k in lesser condition.

Address: Apartment 301, The Tankard Building, Warwick Brewery, Newark, NG24 1TL
Asking Price: £130,000
Property Type: 2 Bedroom First Floor Apartment
Estate Agent: Newton Fallowell
Condition: Ready to Rent
Service Charge: £949.24 PA
Maintenance Charge: £100 PA
Rent Range: £600-650pcm
Yield: 5.95%%
Comments: Same as above, popular area and allocated parking. Good location for the train station. Honestly, i think the apartment above has a more appealing layout and is lighter.

Address: Charles Street, Newark, NG24 1RL
Asking Price: £125,000
Property Type: 2 Bed Mid Terrace House
Estate Agent: Purple Bricks
Condition: Ready to Rent
Rent Range: £500-550pcm
Yield: 5.28%
Comments: Small! It looks very cramped but that could just be the size of furniture, the kitchen is so small and will put tenants off even though it’s modern. Tone down the wallpaper throughout.

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 INVESTMENT PROPERTIES IN NEWARK!!

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After a busy few months, i’m back again with this weeks properties for sale in Newark! We’ve got 9 new ones to take a look at, i’ve added some comments and given you an idea of what you can expect rent wise if you go for it.

Address: 16 Vernon Street, Newark NG24 1PW
Asking Price: £148,000
Property Type: 3 Bed End of Terrace
Estate Agent: Richard Watkinson & Partners
Condition: Ready to Rent
Rent Range: £550-600pcm
Yield: 4.86%
Comments: purchased in July 2017 for £135k in the same condition, the only thing thats changed is the paint colour so why is it £13k more? Well presented and ready to rent but be aware of the low epc, don’t to get caught out should regulations change!

Address:110 Grange Road, Newark NG24 4PW
Asking Price: £145,000
Property Type: 3 Bed Semi Detached
Estate Agent: Winkworth
Condition: Ready to Rent
Rent Range: £575-625pcm
Yield: 5.17%
Comments: Just a couple of grand more than No 118 that also had a small extension. The kitchen is too much for a rental, it needs dialling down…a lot to appeal to the max amount of tenants as does the rest of the house, think light greys and creams. No chain so may take an offer for quick sale.

Address: 7 Kennedy Walk, Balderton, Newark, NG24 3PJ
Asking Price: £134,000
Property Type: 3 Bedroom Terrace
Estate Agent: NOW Homes
Condition: Ready to Rent
Rent Range: £550-600pcm
Yield: 5.37%
Comments: Well presented property with parking, No 6 sold most recently for £118k 2 years ago without the “storage” extension. No EPC yet so be sure to clarifying rating first, No 6 was EPC D so i’d expect similar.

Address: 14 Lindum Street, Newark, Notts NG24 1NH
Asking Price: £125,000
Property Type: 3 Bedroom Terrace
Estate Agent: Jon Brambles
Condition: Ready to Rent
Rent Range: £525-575pcm
Yield: 5.52%
Comments: So this property is being marketed for £1000 more than a two bed that sold in June, the two was lovely but you certainly get more for your money with this one. Lindum St is a dead end so minimal traffic, just neutralise those bold bedroom colours and order your To Let board!

Address: 35 Emmendingen Avenue Newark NG24 2FX
Asking Price: £125,000
Property Type: 2 Bedroom Terrace
Estate Agent: Belvoir!
Condition: Ready to Rent
Rent Range: £475-525pcm
Yield: 5%
Comments: Overpriced and small. The equivalent property sold 3 months ago for £104k. Low council tax band, high epc and reasonable rental price will appeal to budget friendly renters.

Buttercross Best Buy
Address: 53 Sleaford Road, Newark, NG24 1NF
Asking Price: £125,000
Property Type: 2 Bedroom Terrace
Estate Agent: Winkworth
Condition: Ready to Rent
Rent Range: £500-550pcm
Yield: 5.28%
Comments: Really well presented house, No 47 sold in May 18 for £116,500 and the condition isn’t much different however the kitchen has been extended and it’s more contemporary. Careful with that low epc, if regulations go up to minimum D then you’ll need to spend a few pennies!

Address: 31 Side Row, Newark NG24 2JB
Asking Price: £119,950
Property Type: 2 Bedroom Terrace
Estate Agent: CPG Property
Condition: Ready to Rent
Rent Range: £500-550pcm
Yield: 5.50%
Comments: Low council tax and rent, good first time rental for tenants working on the industrial esate. No 44 sold for £120k in October but not as nice, nothing to complain about this one, priced well, one off street parking space and ready to go.

Address: Hawthorn Crescent, Farndon, NG24 3TG
Asking Price: £80,000
Property Type: 2 Bedroom First Floor Apartment
Estate Agent: Jon Brambles
Condition: Required Renovation
Service Charge: £300 PA
Rent Range: £425-475pcm
Yield: 6.72% (exc work costs)
Comments: Most of the walls and carpets are neutral so we’re off to a good start and it has a garage (USP). Kitchen is functional as is the bathroom but they need updating for top rental price and one neutral colour throughout on the walls. I’d also recommend losing the fire surround, the curtains and painting any brown woodwork white.

Address: Lombard Street, Newark, NG24 1XG
Asking Price: £80,000
Property Type: 1 Bedroom Second Floor Apartment
Estate Agent: Whitegates
Condition: Ready to Rent
Rent Range: £375-425pcm
Yield: 6.38%
Comments: Currently let out for £395pcm with Whitegates and is located above their office. No EPC rating on the advert, if it’s less than an E but mid tenancy you’re okay until 2020, after then you’ll have to get it there or face a fine.

So that’s this weeks selection, a couple of lovely properties in 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.

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

Address: 16 Park Crescent, Newark, NG24 2BY.
Asking Price: £150,000
Property Type:3 bed Semi-Detached
Estate Agent:Jon Brambles
Condition: Ready to Rent
Rent Range: £600-650pcm
Yield: 5.2%
Comments: Well presented property in a good spot for knowhow workers, bought two years ago for £120k. Difficult to find fault with this one!

Address: 7 Earp Avenue, Newark, NG24 4DD.
Asking Price: £150,000
Property Type: 3 Bed End Terrace
Estate Agent: William H Brown
Condition: Some Updates Required
Rent Range: £575-625pcm
Yield: 5%
Comments: Another good location although i’m a little thrown by the price, it was purchased in March this year for £130k and now it’s on for £20k with no difference? It could do with the odd new carpet and a lick of paint either way.

Address: 9 Smith Street, Balderton, Newark, NG24 3BA
Asking Price: £119,950
Property Type: 2 Bed Mid Terrace
Estate Agent: Alasdair Morrison
Condition: Ready to Rent
Rent Range: £500-550pcm
Yield: 5.5%
Comments: We managed and let No 16 4 months ago for £550pcm in a similar condition although no photos of the bedrooms is a bit odd, i’m sure they’re not that bad! Budget friendly home with low council tax and reasonable rent, good first home for a couple or small family.

Address: 22 Birch Road, New Balderton, NG24 3BD
Asking Price: £140,000
Property Type: 2 Bed Semi- Detached
Estate Agent: Winkworth
Condition: Ready to Rent
Rent Range: £575-625pcm
Yield: 5.36%
Comments: Popular lakeside location, kitchen will be a hit along with the additional living space in the conservatory. Check the consumer unit, there’s a chance EICR’s will become mandatory soon (£120) and unless the fuse box has been updated already, it will very likely fail an EICR.

Buttercross Best Buy
Address: Rubys Walk, Fernwood NG24 3FP
Asking Price: £139,950
Property Type: 3 Bed end Terrace
Estate Agent: Martin & Co
Condition: Ready to Rent
Rent Range: £600-650pcm
Yield: 5.57%
Comments: Bought last May for £131,000, it’s had a lick of paint and they’ve put down some grass seed on first appearances; No 89 sold in March for £138k in the same condition. Good first investment, low maintenance although watch out for the Ideal ICOS boiler leaks.

Only a small selection this week due to so many reductions but if you have any questions about any of this weeks properties then i’d love to have a chat on 01636 343014, or even better, 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.

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

Address: 66 Eton Avenue, Newark, NG24 4JF
Asking Price: £150,000
Property Type: 3 Bed Semi-Detached
Estate Agent: Jon Brambles
Condition: Ready to Rent
Rent Range: £550-600pcm
Yield: 4.8%
Comments: Well presented three bed on the edge of hawtonville, modern throughout so no cosmetic work required for the foreseeable. The last sale was number 60 in June 2017 for £140,000 with some tlc required so this price seems pretty fair.

Address:7 Clayton Close, Newark, NG24 4HN
Asking Price: £135,000
Property Type: 2 Bed Semi-Detached Bungalow
Estate Agent: Winkworth
Condition: Unknown
Rent Range: £525-575pcm (if in good condition)
Yield: 5.1%
Comments: Previous sale was in March 2017 for £135,000, the bungalow needed updating throughout so the fact that this is similarly priced would suggest that it’s probably in the same condition and there’s no EPC either to give anything away. We’re always being asked for Bungalows but they’re so rare on the rental market, dare to be different?

Buttercross Best Buy
Address: 23 Birch Road, New Balderton, Newark, NG24 3DB
Asking Price: £130,000
Property Type: 2 Bed Semi-Detached
Estate Agent: Newton Fallowell
Condition: Ready to Rent
Rent Range: £525-575pcm
Yield: 5.31%
Comments: Immaculately presented house with no work required at all thanks to the fantastic job the vendors have done, properties around balderton lake are desirable and would an ideal first time investment. EPC and council tax are reasonable but not the cheapest so consider that for your prospective tenants.

Address: 20 Wright Street, Newark, NG24 1PJ
Asking Price: £117,000
Property Type: 2 Bed Mid Terrace
Estate Agent: Winkworth
Condition: Ready to Rent
Rent Range: £500-550pcm
Yield: 5.64%
Comments: Another great looking property with a fair price tag, the last sale two sales on the street last year were for £99,000 in good condition and £80,000 that needed some tlc. Terrace streets aren’t for all tenants due to potential noisy neighbours and lack of parking, no-one wants to carry there shopping from the other end of the street!

Address: 38 Bowbridge Road, Newark, NG24 4BZ
Asking Price: £110,000
Property Type: 2 Bed Mid Terrace
Estate Agent: Winkworth
Condition: Already Tenanted
Rent Range: Currently paying £425pcm – would suggest £450-500pcm
Yield: currently 4.64% – could obtain 5.45% if £500pcm is achieved
Comments: Small but perfectly formed AND already tenanted, personally i think the current rent is too low but you have to consider that putting the rent up may cause the current tenants to leave so is it worth the void period?

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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