I love working as an Estate Agent and finding properties for my Landlords which are great investment opportunities and today is another one of those days where I have stumbled upon something I would love to share with you…
Throughout my career I have always found (without exception) that an ex-council property rents well because the bedroom sizes are always fit for purpose – sometimes unlike a property which has been converted into 2 or 3 bedrooms and perhaps the room sizes are smaller than usual due to this. This is something that you don’t find in an ex-council property where all the rooms are appropriate sizes as they are purpose built properties. So without further ado, I introduce Knowsley Crescent, which is an ex-council, three bedroom property. The property is on the market with Ian Tongue and appears (from the pictures) to be in very good condition and therefore requiring little/no work to get it ready for Letting. If you have a look at the floor plan you will see that firstly the bedroom sizes are all very good and it will work well as a three bed. That on the first floor, the lounge/kitchen configuration is very nice and I am sure you will agree having a separate kitchen and a lovely large, bright living space is always appealing. Now, this property would rent for £75pcm to £825pcm in its current condition giving you a 4.9% to 5.2% yield… BUT hold your horses! I have an idea.
From the floor plan, you will see that the ground floor is predominantly a garage, with a small reception room at the back which then leads onto the garden. I think that this is where, in time you could add even more value. If this garage space was converted into a 4th bedroom then this would increase the yield further and would potentially let for £850pcm to £925pcm. This is where you see a great yield to up to 5.8% which is much better!
If you have any questions about this property or if you would like me to assist you on finding your next investment then please do contact me on 0161 474 8668 or email email@example.com and I would be happy to help you!
Gemma Lowe – Lettings Manager
Link to Knowsley Crescent on Rightmove – http://www.rightmove.co.uk/property-for-sale/property-53256588.html