(covering SK1, SK2 and SK3)

Month: May 2017

ATTENTION INVESTORS: I have a fantastic investment for you this week on Greystoke Street for under £100,000…

I have a fantastic new property for you this week which is actually on with us here in the Stockport Exchange Branch!  I must say I am not a huge fan of promoting us via this portal too much, as I feel I should be promoting other properties in Stockport, but this one is just too good to ignore!

The property is on Greystoke Street, close to the centre of Stockport and it has the SK1 postcode to prove it.   I feel that this area is a little bit untapped by investors and slightly ignored, as everyone is focusing their invesment searches in Edgeley where certain agents are dominating the market and pushing the prices to an astronomical level which are quite frankly silly and causing investors to gain very little in terms of the investment potential, so I would air on the side of caution, step away from the Edgeley madness and have a look at SK1.  You may be surprised.

So, Greystoke Street is on the market at less than £100,000 which is extremely rare!  It is on the market for a fantastic price at £87,500 and there is a tenant living in the property at the moment who is paying rent each month at £495pcm.  This means that the return on your investment (if bought at the asking price) would give you an incredible yield of 6.79%.   Now I know that that is something to smile about!  For this price you will be getting a very well presented one bedroom, first floor flat within a terraced property.  The property was converted a while ago to two flats, but the finish is excellent and would appeal to anyone looking to rent a one bedroom flat, where the going rate in stockport centre is now between £500pcm and £600pcm for a lovely property like this.

To book a viewing please call me, Gemma Francis, Lettings Manager at Stockport Exchange on 0161 474 8668 and I would be happy to show you around myself and give you any Lettings advice and assistance you may require.

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the simon & garfunkel story comes to the plaza

Following on from it’s sold out tour on London’s West End, the hugely popular Simon & Garfunkel Story is coming to the Stockport Plaza on May 31st. Starting at 19.30pm, the 50th anniversary celebration includes a full band as they celebrate the fascinating lives and numerous hits from one of the greatest musical duo’s of all time.

Click here for more info and tickets.

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i am looking at renting out a property, should i rent it with or without furniture?

The question of renting a property furnished or unfurnished does depend on the location and type of property. For example, if your particular property is more suited to a family, they may already have their own furniture which they would prefer to use. However, young professionals renting flats may prefer the property to be furnished. One of the most important things to note is that any furniture supplied must comply with safety regulations and if it was to break you would have an obligation to provide a replacement for the tenant.

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the chinese state circus are coming to town

The incomparable Chinese State Circus are playing at Torkington Park, Hazel Grove, on Tuesday 23rd to Sunday 28th May, in a fully heated big top venue. The show, which has wowed audiences for over 2,000 years, is a breath taking one which must be seen to be believed, and can be enjoyed by all the family. Tickets start at £10 and go up to £28 for the ringside seats. For information on tickets.

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mad hatters art and crafts club for 2-5 year olds

This is an action packed arts and crafts session aimed at children aged between 2 and 5, with an emphasis on having fun. The session is taking place at the Hat Works in Wellington Mill on Friday 26th May between the hours of 10am and 12noon. Entry is £6 per child with up to two accompanying adults allowed in for free, and remember, they advise to ‘dress to get messy’!

Click here for more details

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distance to work

How far people travel to work says a lot about the nature of an area. For example if people live and work in market towns there is likely to be a lot more community spirit to experience in daily life. When people are travelling further afield to work, they effectively spend their days on two different communities. It will be interesting to see if community spirit increases as people work more from home.

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i have been living abroad for some time and would like to rent out my property in the uk. what do i need to know about tax?

As an overseas landlord, your letting agent would be required to deduct tax from your rental income before sending it to you unless they have permission from HMRC to pay the rent to you in full. This tax would then be paid to HMRC quarterly and at the end of the tax year you would be provided with a certificate in order to complete a self-assessment tax return and prove how much tax you have paid. If you would prefer the rent to be paid in full so you could complete a tax return and pay any money owed directly, HMRC will provide your letting agent with an approval number once you have registered with them which they need to pay the rent to you in full.

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A quarterly index of house prices

This chart shows how house prices in the local area have moved over the last seven quarters. We’ve indexed flats, terraces, semi-detached and detached homes so they start at the same point so you can easily see how they’ve moved in relation to one another.

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INVESTMENT ALERT: Paintbrushes at the ready, I have a fantastic investment for you!

Hello Readers,

I hope you are all doing well and are finding lots of lovely properties to view in the area.  As usual Edgeley is proving to be very popular and I can see the house prices going up in this area as investors compete to buy here.  Finding something completely renovated and ready to let for £120k seems to be a little harder now, but there are some out there… you just have to find them!  Everyone is looking around this price (£120k) for an investment, some pushing up to £130k now as the market realises the demand and prices nudge upwards, but for a little extra money, there are still some really fantastic properties to be found.

So, this month I decided to look and see what was available around £150k as I thought that if I could find a three bedroom house at this level that needed very little work, but that could be rented out for around £750pcm I would still be able to achieve a good rental yield of 6% but it could mean I don’t have to compete with every other investor!

Here is what I found…

  • A semi-detached house
  • 3 large double bedrooms
  • An entrance hall, that is natural and has not been taken from the front living room
  • A large private garden
  • A bathroom and separate WC

 

LOCATION:  Broadhurst Street, Shaw Heath

PRICE: £149,950

CONDITION: From the images online I can see that the property currently looks to be lived in by the owners and a young family.  The property has a decent bathroom and WC but I think, due the family living in the property it could do with a re-paint in order for it to be neutral and an option for more tenants that perhaps don’t have children, or perhaps don’t want to use the rooms as the current owners are doing.  A repaint throughout would not cost a lot of money.  In addition to this to this I would advise new cupboard doors in the kitchen, or if the budget allows perhaps a new kitchen?  It is not in bad condition, but a little spruce up could mean a lovely property, more viewings and even more rental income per calendar month.  If you did all of this, you could be looking at a rental income of £795pcm which would provide a yield of 6.4%.

IDEAS:  Knowing the style of these properties, and the size of them I would imagine that this property has a large cellar and a lovely large attic space.  My ideas for the future with this property would be to save up and make a large bedroom in the attic (planning permission to be obtained) and to create an additional 4th bedroom.  You could even think about developing the cellar and excavating it in the future to make a fantastic kitchen dining room leading out through French doors onto the garden…  Can you tell I want this one!?

The property is currently on the market with Harvey Scott in Davenport, so I would call them immediately and get a viewing booked in!

ALL THE VERY BEST OF LUCK INVESTORS!

 

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stagecoach to become stockport exchanges biggest occupant

More great news for Stockport Exchange came in last week when it was announced that Stagecoach will be moving their head offices there. They have signed a 15 year lease on three floors of the fantastic new development, which takes it close to it’s full capacity, following the confirmation that Cafelito will be occupying the remainder of the ground floor, next to Sainsbury’s. It’s really starting to take shape!

For more details see here

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