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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Investor Evening 3rd November

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Are you looking to expand your property portfolio, or perhaps considering that first investment opportunity?

Then join us in Jon Brambles office, 1-3 Barnby Gate, Newark, NG24 1PX on 3 November 2016 between 5.30pm and 7.30pm

There will be sales staff, mortgage advisor and lettings specialists on hand to answer any questions you may have.

In addition, we will have full details of properties that may be suitable for your investment, together with an idea of potential rental income.

Refreshments will also be provided.

To register your interest, please email hello@buttercrossestates.com

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Energy Performance Certificates – EPC’s

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Don’t dismiss it

Over the coming weeks with the use of this blog, I hope to explain what the EPC is for, what relevance it has to landlords and tenants and how it can be used by landlords to improve their income and make the most of their investment.  If you thought that the EPC was just to ‘tick a legal box’ then think again!  I’ll explain how to use this tool to its greatest effect; making money.  Just as importantly, how it can be used by tenants to save money and improve their living conditions.

What is an EPC?

I’ll have plenty of time to fully explain the advantages of the EPC but first I must explain what the EPC is.  Its purpose is to record how energy efficient a property is. The certificate will provide a rating of the energy efficiency and CO2 emissions of a building from A to G, where A is very efficient and G is very inefficient. EPCs are required for homes which are put up for sale or rental across the whole of the UK.

What is its use?

I will touch on this subject in much more detail over coming weeks.  The EPC has uses for the tenant, landlord and the Government.

The landlord at a glance can see what improvements he/she can make to the property.  The EPC is a gateway to fantastic subsidies and finance opportunities that the landlord should take advantage of at very little up-front costs to improve the property and increase the value of their investment. Contact Farnsfield Consulting for more information and good news.

The tenant should compare the energy efficiency of different properties to take into account the probable running costs of each. They can also see what improvements can be made.  Like differences in rental rates, all properties have differences in running costs which should be compared.  Many hundreds of pounds per year can be saved this way.

The Government can use the EPC to compile statistics about the UK housing stock giving them measurable improvements to living standards and carbon savings towards meeting international targets. Carbon saving subsidies for improving property is money much better spent than erecting and subsidising wind turbines etc. Use less, generate less.

About Us

Farnsfield Consulting Ltd. are your local Energy Performance Certificate experts.  We are qualified to produce EPC’s for domestic existing property, new build domestic property, commercial buildings and public buildings.  Farnsfield Consulting are also Green Deal advisors helping home owners, landlords and tenants implement improvements to their property with very low up-front costs.  We also produce Inventories for landlords as an added value service.  Each strand requires its own hard earned expertise and qualification.  We are here to help.  www.farnsfield.org

Farnsfield Consulting Ltd. – www.farnsfield.org

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