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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Address: 83 Barnby Gate, Newark. NG24 1QW
Asking Price: £150,000-£155,000
Property Type: 2 Bedroom Mid Terrace House
Estate Agent: Newton Fallowell
Condition: Ready to Rent
Rent Range: £545-£595pcm
Yield: 4.76%
Comments: Bought just 7 months ago for £145k, nothing has changed at all. Begs the question, why move so soon? Neighbours, parking, noise? Positives – very well presented, plenty of living space and central location.

Address: Goldsmith Road, Balderton, Newark, NG24 3QR
Asking Price: £150,000
Property Type: 2 Bedroom Semi – Detached Bungalow
Estate Agent: William H Brown
Condition: Some work needed
Rent Range: £600-650pcm when done
Yield: 5.2%
Comments: Bungalow rentals are few and far between but popular, this one needs a lick of paint, couple of carpet changes, a new oven and at least a re-grout in the bathroom. Replacement kitchen and bathroom would be best but understandably not ideal.

Address: 20 Boundary Road, Newark NG24 4AL
Asking Price: £150,000 – £160,000
Property Type: 3 Bedroom Terraced House
Estate Agent: Newton & Fallowell
Condition: Ready to Rent
Rent Range: £575-625pcm
Yield: 5%
Comments: Well presented property although funny layout, kitchen-bathroom-utility-sunroom!? No bath which often puts young families off. Good sized bedrooms. #26 sold for £153k in Nov 18 in a similar condition but not extended as much.

Buttercross Best Buy
Address: 70 Lime Grove, Newark, NG24 4AH
Asking Price: £149,950
Property Type: 3 Bedroom Terraced House
Estate Agent: Winkworth
Condition: Ready to Rent
Rent Range: £600-650pcm
Yield: 5.2%
Comments: #40 sold in Dec 18 for £137,500 in similar condition. Downstairs bathroom isn’t for everyone so consider that. Popular street, we’ve often found rentals go promptly when priced right. Just need to lose the nursery decor and try and budge that price.

Address: 20 Orchid Drive, Farndon, Newark, Nottinghamshire NG24 3TX
Asking Price: £147,500
Property Type: 2 Bedroom House
Estate Agent: Belvoir!
Condition: Ready to Rent
Rent Range: £575-625pcm
Yield: 5.08%
Comments: Popular village with a garage conversion. Second bed a little small but good for a couple or single person. No work required, worth checking the boiler age as it will be on it’s last legs if it’s the original.

Address: 77 Clarks Lane, Newark, Nottinghamshire, NG24 2EF
Asking Price: £130,000
Property Type: 2 Bedroom Semi – Detached House
Estate Agent: Newton Fallowell
Condition: Ready to Rent
Rent Range: £525-575pcm
Yield: 5.3%
Comments: Well presented little house, good starter house for both tenant and LL in terms of running costs and initial outlay. Properties do take quite a while to sell though, something to factor in.

Address: 1 The Malthouse, Newark, NG24 1LA
Asking Price: £130,000 – £140,000
Property Type: 2 Bedroom Ground Floor Duplex Apartment
Estate Agent: Winkworth
Condition: Ready to Rent
Rent Range: £600-650pcm
Ground Rent: £800 PA
Yield: 5.96%
Comments: Really lovely apartment in a good, central location to town and station. We’ve let apartments at Maltings View on the other side of the road Apartments seem to take a very long time to sell in this block, i’m honestly not sure why, too much money?! This was purchased in June 16 for £137,500.

Address: 9 Philip Road, Newark NG24 4LX
Asking Price: £130,000
Property Type: 3 Bedroom Terraced House
Estate Agent: William H Brown
Condition: Ready to Rent
Rent Range: £575-625pcm
Yield: 5.76%
Comments: Recently renovated although i can’t get past the dark brown window surrounds and window sills…why?! Bit of a marmite-y area but you’ll never please everyone! We let a 4 bed for £675pcm earlier in the year to a similar standard on Gopher Road.

Address: 32 Side Row, Newark, NG24 2JB
Asking Price: £119,950
Property Type: 2 Bedroom Terraced House
Estate Agent: Winkworth
Condition: Ready to Rent
Rent Range: £500-£550pcm
Yield: 5.5%
Comments: Ready to go, nice budget friendly for both LL and tenant. Good for A1 and industrial estate. Was previously marketed with another agent back in January 2019, properties in this area can take a while to sell.

Address: 18 Youngs Avenue, Fernwood, Newark. NG24 3FG
Asking Price: £99,950
Property Type: 2 Bedroom First Floor Apartment
Estate Agent: Martin & Co
Condition: Ready to Rent
Rent Range: £470-£520pcm
Yield: 6.2%
Comments: Bought for £77k in March 2017, considered ditching the lounge carpet and lightening up walls in bedroom 2 and the hallway to get maximum rental and a quicker let. The photos don’t really help as they make the apartment seem dark.

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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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: 13 Belvoir Road, Balderton, Newark, NG24 3HQ
Asking Price: £135,000
Property Type: 3 Bedroom Semi- Detached House
Estate Agent: Purple Bricks
Condition: Update Required
Rent Range: £600-650pcm (top end once updated)
Yield: 5.77%
Comments: Property is need of an update, particularly the carpet bath and dated kitchen. If i was flipping it then i’d take the wall out to sort out the weird shaped kitchen but that’s a different level! Seems too expensive for what you’re getting.

Address: 16 Baines Avenue, New Balderton, Newark NG24 3BL.
Asking Price: £150,000
Property Type: 2 Bedroom Semi Detached House
Estate Agent: William H Brown
Condition: Ready to Rent
Rent Range: £550-600pcm
Yield: 4.8%
Comments: Previously listed with Alasdair Morrison in Dec 18 but clearly no buyers yet. Nice enough house, nothing to pick fault with. Don’t get much for £150k.

Address: MillGate Apartments, Mill Gate, Newark NG24 4TR
Asking Price: £140,000
Property Type: 2 Bedroom Apartment
Estate Agent: William H Brown
Condition: Ready to Rent
Rent Range: £525-575pcm
Yield: 4.92%
Comments: Well presented apartment converted just over 3 years ago. Good central location and allocated parking for those that commute. SC and GR not stated so i’d double check with Browns.

Address: 2 Mercia Road, Newark NG24 4NA
Asking Price: £140,000
Property Type: 3 Bedroom Semi – Detached House
Estate Agent: William H Brown
Condition: Minor Updates
Rent Range: £575-625pcm (top end once updated)
Yield: 5.36%
Comments: Purchased back in 2006 for £107k, bad advert previously so i can only comment on the kitchen being the same. Last sale was for £122,500 in April 19 in a similar condition but no garage. Dial down the colours and bed 2 looks like it may be ready for a carpet.

Address: 3 Old Mill Crescent, Newark. NG24 2HY
Asking Price: £125,000
Property Type: 3 Bed Semi-Detached House
Estate Agent: Newton & Fallowell
Condition: Ready to Rent
Rent Range: £550-600pcm
Yield : 5.76%
Comments: Seems to be priced well, last 3 bed sold for £124,950 in April 17. Aside from a bit of weeding, it’s ready to go, if i’m being really picky then maybe get rid of the living room wallpaper but it’s not offensive.


Address: Flat 2, 5 Church Walk, Newark, Nottinghamshire, NG24 1JS
Asking Price: £90,000
Property Type: 1 Bedroom First Floor Apartment
Estate Agent: Richard Watkinson & Partners
Condition: Ready to Rent
Rent Range: £445-495pcm
Ground Rent: £50 PA
Service Charge: £700 PA
Yield: 6.55% (inc SC and GR)
Comments: Fantastic town centre location, lack of parking is going to put some people off. Ideal for a commuter. Purchased for £94,175 when it was first converted in 2007. Never far from a good coffee either!

So that’s this weeks selection, quite a few reductions so not too much choice. Not really anything worth going for this week but 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…

Address: 26 Clarks Lane, Newark NG24 2EF
Asking Price: £150,000
Property Type: 3 Bedroom Semi-Detached House
Estate Agent: Whitegates
Condition: Ready to Rent
Rent Range: £625-675pcm
Yield: 5.4%
Comments: Well presented semi with a recent garage conversion (now an office), #32 sold in April for £145k that had a conversion to an additional reception room, i’d advise the same. Just check that EPC before committing.

Address: Penthouse, The Courtyard, Castle Brewery, Newark, NG24 4AF
Asking Price: £120,000
Property Type: 1 Bed Penthouse Apartment
Estate Agent: Newton Fallowell
Condition: Ready to Rent
Rent Range: £500-550pcm
Service Charge: £1184 PA (paid 6 monthly)
Ground Rent: £125 PA
Yield: 5.44% (inc SC and GR)
Comments: Lovely unique apartment in a popular development, single parking space can but potential tenants off. These apartments often make great rental properties but are hard to shift when you want to sell them.

Address: 14 Alexander Avenue, Newark. NG24 2BD
Asking Price: £135,000
Property Type: 3 Bedroom Semi- Detached House
Estate Agent: NOW Homes
Condition: Ready to Rent
Rent Range: £575-625pcm
Yield: 5.56%
Comments: #2 sold in Nov 18 for £140k in a tired state so this seems pretty cheap. I’d lose the red wall and add a carpet to bed 1, unsure of bed 3. Check the boiler age, may have to factor a replacement in.

Address: 19 Stoke Avenue, Newark. NG24 4PH
Asking Price: £130,000
Property Type: 3 Bedroom Semi- Detached House
Estate Agent: Edlin & Jarvis
Condition: Some work required
Rent Range: £575-625pcm (once updated)
Yield: 5.76% (exc update costs)
Comments: Needs a bit of work, carpets need fitting and update some of those colours on the walls…including the green door! Looks like the master bed carpet needs a good clean or replacing. Update the lighting fixtures if you can, small things make a big difference.

Address: 52 Wolfit Avenue, Balderton, NG24 3PH
Asking Price: Offers in Excess of £140,000
Property Type: 3 Bed Semi Detached
Estate Agent: Newton Fallowell
Condition: Ready to Rent
Rent Range: £600-650pcm
Yield: 5.57%
Comments: Very well presented, current vendors have clearly spent a lot of time and money after they bought it in Sept 2016 in a very tired state. #48 sold Dec 18 for £137,500 in a much lesser condition than this property currently.

Buttercross Best Buy
Address: 10 Blackberry Lane, Fernwood, Newark, NG24 3UN
Asking Price: £137,950
Property Type: 2 Bed Mid Terrace
Estate Agent: Martin and Co
Condition: Ready to Rent
Rent Range: £550-600pcm
Yield: 5.22%
Comments: Another very well presented house, all built in appliances and they’ve utilised both sides of the kitchen. #6 sold in Dec 18 for £131k in good condition, just less wow.

Address: 39 King Street, Newark, NG24 4UQ
Asking Price: £105,000
Property Type: 2 Bed Mid Terrace
Estate Agent: Now Homes
Condition: Updated Required
Rent Range: £475-525pcm (once updated)
Yield: 6% (exc update costs)
Comments: Plenty of potential, we let #41 earlier this year in no time after a renovation throughout. The bathroom needs a decent extractor fan (see mould on ceiling!) and updating in general, ditch the kitchen floor, random wrong colour storage unit and add an extractor in there too. #34 sold for £95k in March.

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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: 8 Birch Road, Balderton, Newark. NG24 3DB
Asking Price: £140,000
Property Type: 2 Bedroom Semi – Detached
Estate Agent: Winkworth
Condition: Ungoing Renovation
Rent Range: £545-595pcm
Yield: 5.1%
Comments: Popular lakeside location and should make a nice property when done although not overly big. #7 sold for £140k in a good condition in April. Property not being shown in the best light but price seems fair STC of the remaining improvements.

Address: Barnby Gate, Newark NG24 1QD
Asking Price: £125,000
Property Type: 2 Bedroom First Floor Apartment
Estate Agent: William H Brown
Condition: Ready to Rent
Rent Range: £525-575pcm
Yield: 5.52%
Comments: Lovely character apartment, bonus of a storage shed for a bike, no street parking available though. Newly renovated so expect maintenance to be low aside from the odd tweak. No SC or GR either.

Address: 15 Grove Street, Balderton Newark NG24 3AR
Asking Price: £130,000
Property Type: 3 Bedroom Terraced House
Estate Agent: Jon Brambles
Condition: Ready to Rent
Rent Range: £575-625pcm
Yield: 5.76%
Comments: Good sized family house but tight street parking and lack of lawn may deter potential tenants. Bought in Nov 16 for £127,500, not much has changed apart from painting the kitchen yellow(?!)…i’d recommend cream to show it at it’s best.

Address: 44 Cardinal Hinsley Close, Newark NG24 4NQ
Asking Price: £120,000
Property Type: 2 Bedroom Terraced House
Estate Agent: Jon Brambles
Condition: Ready to Rent
Rent Range: £525-575pcm
Yield: 5.75%
Comments: Well presented little house on the edge of Hawtonville, good starter property due to low running costs but that second bedroom is very small. Check the boiler and consumer unit, if they’ve not been updated yet then something to factor in.

Address: 58 Beech Avenue, Newark NG24 4JN
Asking Price: £120,000
Property Type: 3 Bedroom Semi -Detached House
Estate Agent: Newton & Fallowell
Condition: Requires Updating
Rent Range: £600-650pcm (once renovated to a good standard)
Yield: 6.5% (exc renovation costs)
Comments: Good fixer upper for someone that fancies getting stuck in to keep costs down, #52 sold in March 18 for £142,500 after a full renovation. Nice plot although no garage.

Buttercross Best Buy
Address: Linseed Avenue, Newark NG24 2FJ
Asking Price: £129,999
Property Type: 2 Bedroom Semi- Detached House
Estate Agent: Martin & Co.
Condition: Ready to Rent
Rent Range: £545-595pcm
Yield: 5.49%
Comments: Two double bedrooms and a good location for commuters. May have to make the bedrooms one colour but overall a good property, no issues from me!

Address: Mercia Road, Newark. NG24 4NA
Asking Price: £140,000
Property Type: 3 Bedroom Semi- Detached House
Estate Agent:William H Brown
Condition: Ready to Rent
Rent Range: £575-625pcm
Yield: 5.35%
Comments: Very well presented property, #36 sold in Jan for £125k with the same layout but let down by upstairs and bathroom. Hawtonville, like Fernwood, can be a bit marmite-y so that factor this in.

Address: 1 Chantry Close, Newark. NG24 4JZ
Asking Price: £145,000
Property Type: 3 Bedroom Semi- Detached House
Estate Agent: William H Brown
Condition: Ready to Rent
Rent Range: £550-600pcm
Yield: 4.96%
Comments: Bought in 2006 for £90k, unsure of how much its changed due to the lack of photos, looks like some of the carpets are getting thin in the bedrooms. Last sale was #6 in May for £91k, same layout but a little more tired.

Address: 3 St. Agustine’s Close, Newton Street, Newark NG24 1SY
Asking Price:£150,000
Property Type: 3 Bedroom End of Terrace House
Estate Agent: Newton & Fallowell
Condition: Update Required in Areas
Rent Range: £600-650pcm (once completed)
Yield: 5.2%
Comments: Good spot for families wanting the Academy School, nice kitchen and bathroom, the rest of the house either needs new floor, redecorating or both.

So that’s this weeks selection, quite a few have come up in Hawtonville over the last month with less in the Fernwood area. A Couple of good investments in here, 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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Address: 15 Byron Close, Newark NG24 4DX
Asking Price: Offers Over £140,000
Property Type: 4 Bed Terrace House
Estate Agent: Edlin & Jarvis
Condition: Ready to Rent
Rent Range: £625-675pcm
Yield: 5.79%
Comments: Very well presented property, i’d be half tempted to leave the bold colours and wallpaper and see what the feedback is, it will feel more like a home than a rental. The area can make it harder to let but it’s swings and roundabouts.

Address: 36 Milner Street, Newark NG24 4AA
Asking Price: £140,000
Property Type: 3 Bed Mid Terrace House
Estate Agent: Newton & Fallowell
Condition: Ready to Rent – just garden tlc
Rent Range: £550-600pcm
Yield: 5.14%
Comments: Owned since 2001, looks like it’s been recently “neutralised” for selling purposes, bad cover up of the old fire place and the garden needs some tlc. Good location for families with Barnby Road Academy around the corner.

Address: 32 Bailey Road, Newark, NG24 4EW
Asking Price: £140,000
Property Type: 3 Bed Terrace House
Estate Agent: Newton & Fallowell
Condition: Some Minor Work Required
Rent Range: £550-600pcm
Yield: 5.14%
Comments: Open plan living will appeal to families plus plenty of off street parking. I’d consider changing/removing the wallpaper in the kitchen and certainly the bedroom carpet and wallpaper. #24 sold for £113k in March which was neutral throughout.

Address: 93 Goldstraw Lane, Fernwood. NG24 3FD
Asking Price: £139,950
Property Type: 3 Bed End Terrace House
Estate Agent: Purple Bricks
Condition: Ready to Rent
Rent Range: £575-625pcm
Yield: 5.36%
Comments: Purchased from new back in 2006 for £121,995, doesn’t appear to have changed in this time. Popular location but those bedrooms are small, more suitable for a couple with occasional guests.

Address: 15 Heron Way, Balderton. NG24 3DD
Asking Price: £135,000
Property Type: 2 Bed Semi Detached House
Estate Agent: NOW Homes
Condition: Ready to Rent
Rent Range: £525-575pcm
Yield: 5.11%
Comments: This has been on and off the market a lot over recent years, it’s a popular location but the house or the price isn’t working for people. Check the consumer unit and boiler as these will be getting old now if they’ve not been done yet. Bed 2 wallpaper makes the room feel small.

Address: 77 Hatton Gardens, Newark NG24 4BU
Asking Price: £132,500
Property Type: 2 Bed Terraced House
Estate Agent: Newton & Fallowell
Condition: EPC Too Low to Rent
Rent Range: £545-595pcm
Yield: 5.39%
Comments: Really well presented property and in a nice spot too however, it’s an EPC F so it’s not legal to let. Get yourself a copy of the EPC off the register to see whether you’re able to pay for the required improvements before committing.

Address: 22 Hine Avenue, Newark NG24 2LH
Asking Price: £130,000 – £140,000
Property Type: 2 Bed Semi detached House
Estate Agent: Newton & Fallowell
Condition: Needs some minor updating
Rent Range: £525-575pcm
Yield: 4.93%
Comments: Update the master bedroom and the kitchen tiles if you can justify it. Low maintenance garden and parking are nice additions.

Address: 81 Hawton Lane, New Balderton, Newark. NG24 3DH
Asking Price: £129,950
Property Type: 3 Bed Terraced House
Estate Agent: Alasdair Morrison
Condition: Needs Updating Throughout
Rent Range: £575-625pcm (once completed)
Yield: 5.77% (once completed)
Comments: Property is dated throughout, 3 bed end terrace on Stafford Ave in similar condition sold in May for £115k. This property seems to be very pricey for the size, condition and location.

Address: 12 The Brewhouse, Castle Brewery, Newark NG24 4AF
Asking Price: £120,000-£125,000
Property Type: 2 Bedroom Ground Floor Duplex Apartment
Estate Agent: Jon Brambles
Condition: Ready to Rent Service Charge: £3500 PA Ground Rent: £125 PA
Rent Range: £625-675pcm
Yield: 6.3% (inc SC and GR)
Comments: Very spacious apartment in a popular location, one parking space can cause issues and the limited parking. Have carried out 3 let only’s for this apartment with families being the most interested due to the size.

Address: 26 Sawyers Close, Newark, NG24 2HF
Asking Price: £110,000
Property Type: 2 Bed Terraced House
Estate Agent: Edlin & Jarvis
Condition: Ready to Rent
Rent Range: £500-550pcm
Yield: 6%
Comments: Bought in April 18 for £111,250, nothing to really comment on, a bit vanilla but good size for a couple. Good location for industrial estate access.

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.