Foobar Report post Posted October 17, 2005 This is just a bit of fun (or maybe too sad for words), this was quite entertaining with a few other people in the office!: Try looking on rightmove.co.uk etc for houses/flats for sale that are EMPTY. I suspect there are a large number of empty buy to lets looking to be sold and this may help to confirm it. It obviously won't be accurate as there are other reasons why property could be empty, but the presence of an empty property means the seller is likely to be more anxious to get rid. Maybe there are areas where there are high concentrations of empty properties, good areas to offer lower prices? You have to use your judgement a bit. There are the obvious ones where there is no furniture, but then there are ones which are debateable, refer to a colleague or friend! Here's 10 for starters from RightMove, these were gathered from roughly 110 properties (11 pages) showing an emptiness rating of approx 10% for central london: Central London 10% EMPTY! Courtfield House, Baldwins Gardens, London EC1N Cyrus Street, EC1, London Golden Lane Estate, EC1, London Werna House, 31 Monument Street, London The Hydra Building, Hardwick Street, London, EC1R4UG Fetter Lane 1 Pepys Street, London East Central, Seward Street, EC1V Wicklow Street, WC1, London Britton Street Happy hunting hopefully this will prove both useful and entertaining, if your looking you might as well record what you see. Quote Share this post Link to post Share on other sites
SE1 Report post Posted October 17, 2005 If I posted all the empty properties I've been looking at, I'd never do anything else! Quote Share this post Link to post Share on other sites
200p Report post Posted October 17, 2005 (edited) Do you actually do any work ??????? I ll play anyway- Of 140 flats and apartments (ideal amateur BTL fodder) not exceeding 100K, 25 properties were no chain or vacant possession (same difference>?) - thats the idea right? Otherwise where would the sellers move to? They must be empty. 1 2 3 4 5 6 7 8 9 10 11 12 but a retirement flat doesnt count 12 13 14 15 16 17 18 19 20 21 22 23 24 25 26 So 25 flats out of 140 are either vacant or no chain; thats 25/140 x 100 = 17% to 2 s.f. Sounds alot worryingly if I had to sell a empty property - so many to compete with.. Wish I had data from other years to play with to compare however! Not vacant this one below. This one even conviently tells you it is currently let out for £475 PCM (£93K) Wonder why are they selling sounds good on paper. LINK Anyone care to calculate the yeild for me? I dont have the formula. Edited October 17, 2005 by trev Quote Share this post Link to post Share on other sites
Mark5290 Report post Posted October 17, 2005 (edited) Yield = 6.13%, Paragon et al. claim average achieved yield is 6.70% http://www.bmsolutions.co.uk/products/btl/btlcalcs.asp Edited October 17, 2005 by Mark5290 Quote Share this post Link to post Share on other sites
200p Report post Posted October 17, 2005 (edited) tar very much - i ll bookmark that one 6%ish probably its a bit less because ground rent, maintenance charges arent factored in. Not to mention letting agent fees. Edited October 17, 2005 by trev Quote Share this post Link to post Share on other sites
FreeFall Report post Posted October 17, 2005 In my area virtually everything one and two bed is vacant posession...couldn't say whether these are BTL or from people who have already moved into new places though. Several places up for sale are also up for rent at the same time though (approx 25%). Quote Share this post Link to post Share on other sites
