We brought this property to the market earlier this week and it really is a great investment. On the market for £108,000, the two bedroom terraced property is great value due to it’s fantastic central location, opposite Stockport College. We estimate a monthly rental income of £650 which creates an annual yield of 7.2% based on the current asking price – you will need to be quick!
The Gin Jamboree is coming soon to Stockport’s Town Hall. It is an event which showcases over 100 varieties of gin from around the country and beyond. It takes place on Friday 21st April, between the hours of 18.30pm and 11.00pm. Interest has been so strong that they have already announced two further event dates, later in the year, in September.
It was a very sad day when my mother said to me… ‘Gemma, Money doesn’t grow on trees!’ and in natural Gemma style I thought ‘pah, I will show you Sally!’
I am to this day still looking for a money tree and a four leaf clover (as I never did find one of those either) but I have found my own little money maker… money tree.
I soon learnt, after living in London for a few years that money does grow in property. In houses, not in my bank account, but I never ever thought I would be able to get on the ‘so called’ property ladder or to be a Landlord. That was a dream. But I am very pleased to tell you that I am both… and money makes money. Property really is the safest place to invest and let me show you another little GEM (get it!?) that has appeared online with PURPLEBRICKS!
As I mentioned in my last article I am getting a lot of calls from people all over the country that are looking to invest their money in Stockport and I think that this property could be a fantastic option.
‘Where is it?’ I hear you ask… Well, it is just off the M60 at Junction 27 on a road called Carrington Road which is close to the popular Vernon Park area and the Woodbank Memorial Park. This mid-terrace house has three good sized, double bedrooms, an open plan kitchen/dining area and kitchen and a lovely shared garden at the rear of the property. The property has recently been refurbished, so it has a new, modern high gloss kitchen and a lovely neutral bathroom. It has also been painted neutrally throughout so it would appeal to most tenants looking to rent.
The property is being marketed at an asking price of £117,500 and for a property of this stature I think it could potentially rent out for £700 Per Calendar Month. This would mean a rental yield of 7.15% which is a great return on your initial investment!
The current owners bought this property exactly 12 months ago for £65,000 so I think that there may be a deal to be done here on the price to, for someone who is either a cash buyer or chain free! But don’t forget… there is potential capital appreciation here too!
So, I constantly annoy my other half as I am always awake during the night for at least an hour; playing on my phone and reading things. I must say in this hour I am very productive! People have worried about me over the years due to my weird, irregular sleeping patterns, but today I celebrate an article telling me I am normal. (As an aside you can view this article here if you like… DAILY MAIL SLEEP ARTICLE!)
Now that I have shared this with you, I would like to explain why I am telling you this. I spent some time in the early hours of this morning (between 3am and 4am) awake (again!) but this time I decided to look on rightmove.co.uk for investment properties in Stockport.
I am spending many of my working hours enthusing about the Stockport area and assisting other people find investment properties in SK1, SK2 and SK3 or simply giving people who are calling me directly in the office what to buy, where to buy, why to buy in Stockport and telling them that if this is the way they would like to invest to do it quickly!! Properties are going under offer at the asking price, not 10k-15k below, there are very few dooer-uppers as a lot of the beautiful terrace properties have already been ‘done’!
Once these properties have been purchased by the lucky buyer I am simply dying to get my hands on them (the property, not the buyer!) to take the photographs and produce floor plans and market them for Lettings. I love this part of my job as its like a large team of people, investors and Estate Agents all working together to develop an area – in our case Stockport and we are really on a mission.
This morning during my awakening hours (see I told you there was some relevance) I found this little (well HUGE) superstar of a property… RIGHTMOVE – BRIDGFORDS PROPERTY FOR SALE. Now I understand that not everyone will have a cool £765k spare but I felt really excited seeing this property. Yesterday I met with a local investor and seeing what a fantastic job he has done with a huge, previously run down and dilapidated building, that was in desperate need of renovation, and I felt really inspired.
Here’s some more information about the property and an idea of a rental yield…
7x One Bedroom flats (wow!)
3x Studio Apartments (great!)
1 Large Management Office (perfect for me…)
Currently netting £3000 per calendar month (that’s not bad…)
Tenants on Rolling Monthly Contracts – therefore no tenants in situ (great… no worries about having to wait for contracts to end)
1 Acre of Land (…. brain ticking… does it have planning permission…)
Huge Basements running the entire length and breadth of the building adding on more development potential (… oh yes, yes, yes…. CONVERSIONS! Another 4 flats perhaps?)
Currently the apartments in their raw state are netting £300 per apartment per month so a total income of £3000, which gives a 4.71% yield. This is acceptable and not too shabby, especially for doing nothing at all. But with some investment and some imagination what could you have…
However, with some spending on the property itself, renovation of all the flats (10 flats in total netting a healthy £500pcm once improved), development of the basement (providing another 4 flats at £500pcm) totalling an income of £7000 plus per calendar month and a £150,000 spend minimum for the works the yield would be around 9.18%. This is fantastic, I am wooping for joy and already spending my income…!!
Oh and do remember that Stockport is changing and the potential for the property to appreciate in value is untold… there is growth there just waiting to happen.
I cannot help but be excited by this property and just wish whole heartedly that I could afford it! POTENTIAL, POTENTIAL, POTENTIAL!!!
A girl can dream… (note the link back to sleeping!)
You will frequently hear people say… ‘the safest place for your money is in property’, and they would be correct. If you have some spare money my advice would be to find a reasonably priced property (perhaps up to £100,000) and purchase this. Then find a trustworthy Estate Agent (myself!) and ask them to rent it for you. If you don’t want to be too active with the property and have tenants calling you at any hour (to perhaps change a lightbulb) then lots of Estate Agents offer a fully managed service, which does exactly as it says on the tin – they fully manage the property for you. Therefore, you can have your money invested in a property which is appreciating in value and you can have money coming in on a monthly basis to top up your bank account.
Stockport is a fantastic place in the North West to invest your money, as it is currently going through a huge 3 year regeneration program which will see the face of Stockport change dramatically. So, I have been looking for some fantastic opportunities for you as investors and over the next few months I will be bringing you a range of investment opportunities.
Without any further ado, I introduce you to… BOX APARTMENTS. We have recently been instructed on this property which is coming to the Sales market with Julian Wadden, Stockport Exchange for £79,000. I know, I cannot believe it either – £79,000! Fantastic. Now you may immediately think, well for that price it is going to need a lot of work and you would be wrong! The property is located in a new, modern apartment block on Marriot Street, which is where all the regeneration is Stockport is taking place, with the new Stockport Exchange development. The property is a Ground Floor apartment and currently has tenants in situ, so you wouldn’t even need to find tenants – what a dream! At this point, I am waiting for you to pick up the phone and call us immediately (0161 474 8660).
However, if you need a little more persuading, here are the properties credentials:
A well presented, modern, one bedroomed, GROUND FLOOR apartment.
Perfectly located within close proximity of Stockport Town centre and convenient transport links.
Open plan living space incorporating a modern kitchen, a double bedroom, and a contemporary three piece bathroom suite with in bath shower unit.
Set within communal grounds and includes…
a DEDICATED PARKING SPACE in Stockport Town Centre
Below are some photographs, as you really do have to see it to believe it!
I would estimate that this property would rent for £500 – £550 Per Calendar Month. This would mean that if the property was purchased at the asking price your yield would be 8.26% which is a fantastic return. I shall look forward to hearing from you soon…
This property has, today, come down in price to £105,000 making it a great buy to let investment! The property is located within close proximity to Stockport centre, as well as great transport links via the ring road to Manchester City centre, the airport, and beyond.
We estimate a monthly rental income on this property of £575, which, if purchased at the current guide price, gives you an annual yield of 6.57%
The properties condition is good and could be rented out immediately. It is being marketed by Warrens in Stockport, and can be found via the link below:
Harvey Scott have today made available this well presented, one bedroom, loft apartment that would make a solid buy to let investment!
The apartment is set within a large period semi-detached property with it’s main benefit being it’s great location. It is close by to transport links in to Manchester City and Stockport centres, Stockport College and Stockport Grammar, and also Stepping Hill Hospital.
It is being listed at £89,950, and with an estimated rental income of £525 per calendar month, it produces a yield of 7%, based on the asking price being the purchase price.
Please follow the link below for further information: