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timebandit

Peterborough Social Landlord Wants Out !

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Residential Investment Portfolio

40 x 3 bedroom houses located in the commuter town of Peterborough.

The portfolio is currently let out on social housing contracts with a social care scheme contract in place with local councils.

The portfolio is producing circa £560,000 per annum.

Link if you wish to offer

Not really helpful if the agent front page quotes.

With the UK Buy-to-Let market in rapid decline, the Czech Republic and wonderful cities of Prague, Beroun, Ostrava and Brno now offer the No.1 Buy-to-Let opportunities in Europe.

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Ah....Monday, another day of wall to wall BEAR food...........Yes the BTLers will be pulling the ejection seat handles to bale out....& those whom try to tough it out will find the banks pulling the handle for them!!!!!!!!!

Can you say "margin call" ?

Mike

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Residential Investment Portfolio

40 x 3 bedroom houses located in the commuter town of Peterborough.

The portfolio is currently let out on social housing contracts with a social care scheme contract in place with local councils.

The portfolio is producing circa £560,000 per annum.

Link if you wish to offer

Not really helpful if the agent front page quotes.

Id take a wild guess that Peterborough council owns enough land that could quite easily get planning consent to build 30 three bed semis and terraced properties.

These 3 bed shoeboxes cost no more then 80K to build so 30 x 80,000GBP = 2.4 million GBP.

So in just over 4 years the obscene rental income the taxpayer is paying out would cover costs, the council would then have 30 properties to rent to indigenous local workers needing a short term place to stay until they are on their feet or even the genuinely disabled, theyd have created jobs to build the properties and would have released 30 privately owned properties to the open market thus if the law of supply and demand applies would be lowering prices.

Badabing, everyone's a winner apart from this buy 2 letter but some you win some you lose!

Or is sponsoring wealthy benefit scroungers like this buy2letter a better deal?

EDIT 40 properties 3.2 mill = 6 years at current rental but you get the picture.

Edited by BuyInOxford

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The portfolio is producing circa £560,000 per annum.

40 houses? That's £1167 per house per month, which I guess must imply something like £1500 rent to allow for voids.

3-bed taxpayer-funded houses? Yeah, right. Wonderful for those lucky taxpayers who don't get housing benefit.

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My calculations £14,000 average rental per property

Crazy you would assume the council would have pushed for a better return or find cheaper 3 bedroom rental £9,000 or £6780

nah, council workers arent allowed to say no to a LL's offer...might hurt his feelings and cause a lawsuit.

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Id take a wild guess that Peterborough council owns enough land that could quite easily get planning consent to build 30 three bed semis and terraced properties.

These 3 bed shoeboxes cost no more then 80K to build so 30 x 80,000GBP = 2.4 million GBP.

So in just over 4 years the obscene rental income the taxpayer is paying out would cover costs, the council would then have 30 properties to rent to indigenous local workers needing a short term place to stay until they are on their feet or even the genuinely disabled, theyd have created jobs to build the properties and would have released 30 privately owned properties to the open market thus if the law of supply and demand applies would be lowering prices.

Badabing, everyone's a winner apart from this buy 2 letter but some you win some you lose!

Or is sponsoring wealthy benefit scroungers like this buy2letter a better deal?

EDIT 40 properties 3.2 mill = 6 years at current rental but you get the picture.

An even cheaper option.

Peterborough 2009 empty homes.

Local Council owned 102 total empty homes 521

Link if anyone wishes to check an area

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Rent is 14000 per property a year = 269. a week

Which is hjigher than the amount a 5 bed place will earn on LHA. Something doesn't sound right - either the contract they've got gives them better rents "a social care scheme contract" in which case that gravy train needs stopping too.

BRMA ID BRMA Name 1 Bed Shared 1 Bed Self Contained 2 Beds 3 Beds 4 Beds 5 Beds Valid To Valid From

101 Peterborough £58.50 £92.05 £115.07 £136.93 £182.96 £230.14 30 Sep 2010 01 Sep 2010

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Id take a wild guess that Peterborough council owns enough land that could quite easily get planning consent to build 30 three bed semis and terraced properties.

These 3 bed shoeboxes cost no more then 80K to build so 30 x 80,000GBP = 2.4 million GBP.

So in just over 4 years the obscene rental income the taxpayer is paying out would cover costs, the council would then have 30 properties to rent to indigenous local workers needing a short term place to stay until they are on their feet or even the genuinely disabled, theyd have created jobs to build the properties and would have released 30 privately owned properties to the open market thus if the law of supply and demand applies would be lowering prices.

Badabing, everyone's a winner apart from this buy 2 letter but some you win some you lose!

Or is sponsoring wealthy benefit scroungers like this buy2letter a better deal?

EDIT 40 properties 3.2 mill = 6 years at current rental but you get the picture.

Thats what Britain did during the 50's and 60's. It worked for all the reasons you said. Good jobs created building the houses and infrastructure, increased supply of housing in the area making housing more affordable - so less need for housing help.. and building up capital for the local council instead of for one individual.

Basically the public wealth taken as taxes has gone to a private individual.

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Residential Investment Portfolio

40 x 3 bedroom houses located in the commuter town of Peterborough.

The portfolio is currently let out on social housing contracts with a social care scheme contract in place with local councils.

The portfolio is producing circa £560,000 per annum.

Link if you wish to offer

Not really helpful if the agent front page quotes.

Photo is Peterborough in New Hampshire. Typical thicko estate agent - can't even bother to find a photo of the Norman cathedral - tw@ts !

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Photo is Peterborough in New Hampshire. Typical thicko estate agent - can't even bother to find a photo of the Norman cathedral - tw@ts !

That's just fecking hilarious! :lol:

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  • 141 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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