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MattW

'as Many Bedrooms Out Of It As Possible'

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I really hate properties like these:

http://www.rightmove.co.uk/property-for-sale/property-46165982.html

Once a decent sized 2 bedroomed (possibly 3?) former council flat . The current leaseholder has carved four bedrooms out of it. I bet the immediate neighbours are delighted. :rolleyes:

What I want to know is - how on Earth did this get freeholder's permission to get so many rooms out of it? Is it an HMO?

Aside from it's stratospheric 'offers in excess of £145k' (£125k would be a good price), the Estate Agent claims that it brings in £1330 a month when fully let. Nowhere near a 10% yield if the vendor achieves over £145k for it. A neighbouring council flat would rent for around £300 a month.

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http://www.rightmove.co.uk/property-for-sale/property-46165982.html

Once a decent sized 2 bedroomed (possibly 3?) former council flat .

I feel your distaste. I find the 'how many bedrooms' really frustrating, too. I want a 2-bed house - but I want it to be a 'decent size' - which, effectively, means I need a 4-bed house - then, perhaps, modify it to suit me. If I have to get 4-beds to find space for two, I do get to use the extra rooms as a dressing rooms / walk-in wardrobes. Quite irritating...

What on earth suggests to you that BTL should get 10% gross rental yield? I know people who are happy at ~4%. I can't imagine many renters willingly paying £1330 for such a flat... that seems an awfully optimistic rent to ask for such basic accommodation.

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What on earth suggests to you that BTL should get 10% gross rental yield? I know people who are happy at ~4%.

I was under the impression that a 10% yield was good but anything less than that would be quite poor. If I was a landlord I wouldn't be happy with 4%.

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Previously sold flat here

http://www.rightmove.co.uk/house-prices/detailMatching.html?prop=38250973&sale=49445696&country=england

So I suspect space has been carved out of the very generous lounge.

This is where Councils went wrong. Should have doubled every one up in generously proportioned Parker Morris spec flats!

Trust greed and the free market to find the solutions.

Edited by aSecureTenant

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Do you really think £125,000 would be a good price? I would rather tongue an Ebola patient. It is truly horrid, remember £125,000 is REAL money - how many hours graft is that, and how many nights in a Travelodge could you buy with that?

I meant 'good' in terms of 'well above what it's really worth'. I wouldn't pay £125k for it.

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Previously sold flat here

http://www.rightmove.co.uk/house-prices/detailMatching.html?prop=38250973&sale=49445696&country=england

So I suspect space has been carved out of the very generous lounge.

This is where Councils went wrong. Should have doubled every one up in generously proportioned Parker Morris spec flats!

Trust greed and the free market to find the solutions.

Sorry aSecure Tenant but that's a different flat. The one in your link is rectangular in shape whereas the one in my OP is square.

I think it's number 49: http://www.rightmove.co.uk/house-prices/detailMatching.html?prop=42603385&sale=45959507&country=england Sold for £95k.

Looks like the same one as it has the same style hardwood door and the flat above has a blue door in both ads. ;)

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There have been a few other threads on a similar theme - smaller rooms, houses carved up for bedsits etc. This is one area where you can see the effect of immigration - not so much rising property prices, but greater population density.

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