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also posted in "my area" section earlier but worth broadcasting....

from my local property rag last friday..... Nicholls Tyreman pages 23 & 25

first ad - £2,750,000 (11 flats overlooking the stray)

2nd ad - £260,000 (shop and 2 flats)

3rd ad - £560,000 (four flats)

4th ad - £95,000 (1 flat)

5th ad - £1,250,000 (8 flats)

6th ad - £890,000 (row of 6 terraced houses)

all of the above are let on shorthold tenancy agreements. I would say that as these have all been advertised "new" together, it is one "professional" landlord selling up ?!

sorry there's no link but they haven't appeared on the agents website yet........

SOTT

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They are bailing out where I am in the south west too.

£ 1.300,000 Weston - super - mare Hillside Location We are pleased to offer this new re-furbished building at Branton house. The building is split into 10 apartments and they come let and furnished with all kitchen areas are supplied with a cooker, washing machine and a fridge / freezer. There is parking and communal grounds some have views and some have open plan kitchen / lounges, one with a balcony and one with a cellar. Please contact us for more information.

Went to look round this one a while back. Looked at most of their 10 flats that had just been completed December last year. They were f**king terrible. The most horrible kitchen units (student type cr*p), meter boxes on walls with no cupboard, the cheapest beige carpet you can buy, those cookers that cost £99 in Curry's, doors made of cardboard and balsa wood.... etc.

I would not live there, and I am surprised they have tenants (unless they reduced their prices). Its a big building, but clearly the BTLer who bought it and did it up now wants out... with 10 sitting tenants... fat chance.

He wants £1.3M for it. Flats range from 1 and 2 beds (5 of each). He was getting £550pcm for a 2 bed and £500pcm for a 1 bed (if he ever got that much).

5 x £550 = £2750

5 x £500 = £2500

total per month = £5250

£5250 x 12 = £63000 a year before costs.

Assuming no voids at all, no maintennance to do, does not pay any fees to agents etc....

To anyone paying £1.3M the yield would be: 4.8% or therabouts.

I can think of better ways to tie up £1 Million. :lol:

Edited by non-FTBer
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They are bailing out where I am in the south west too.

£ 1.300,000 Weston - super - mare  Hillside Location                                                        We are pleased to offer this new re-furbished building at Branton house. The building is split into 10 apartments and they come let and furnished with all kitchen areas are supplied with a cooker, washing machine and a fridge / freezer. There is parking and communal grounds some have views and some have open plan kitchen / lounges, one with a balcony and one with a cellar. Please contact us for more information.

Went to look round this one a while back. Looked at most of their 10 flats that had just been completed December last year. They were f**king terrible. The most horrible kitchen units (student type cr*p), meter boxes on walls with no cupboard, the cheapest beige carpet you can buy, those cookers that cost £99 in Curry's, doors made of cardboard and balsa wood.... etc.

I would not live there, and I am surprised they have tenants (unless they reduced their prices). Its a big building, but clearly the BTLer who bought it and did it up now wants out... with 10 sitting tenants... fat chance.

He wants £1.3M for it. Flats range from 1 and 2 beds (5 of each). He was getting £550pcm for a 2 bed and £500pcm for a 1 bed (if he ever got that much).

5 x £550 = £2750

5 x £500 = £2500

total per month = £5250

£5250 x 12 = £63000 a year before costs.

Assuming no voids at all, no maintennance to do, does not pay any fees to agents etc....

To anyone paying £1.3M the yield would be: 4.8% or therabouts.

I can think of better ways to tie up £1 Million.  :lol:

Wait, you haven't thought about the capital gains!!

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would make about 40k a year less depreciating prices once youve removed the voids and the repairs

so about 4% less depreciation and ya still gotta sort out they tenents that dont pay the rent or wreck the place or god forgive deciede to move on and ya gotta get new tenants.

and not even adding in loan costs which less face it have nowhere to go but up.

better stick yer 300k in a high intrest account and forget about it its gonna pay you more with no stress.

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  • 439 Brexit, House prices and Summer 2020

    1. 1. Including the effects Brexit, where do you think average UK house prices will be relative to now in June 2020?


      • down 5% +
      • down 2.5%
      • Even
      • up 2.5%
      • up 5%



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