Yorkshire Grove, Leamore, Walsall, WS2 is on the market with Goodchilds, Bloxwich (01922 312016) priced at £130,000. The full property advert can be found at:
Search for this property with a postcode on Google Maps or on any other navigation system and you’ll probably end up taking a scenic tour of Walsall! Situated on a new development (joint venture by Mar City Homes and Taylor Wimpey), called Jubilee Gardens I think this makes an ideal investment property for a few reasons. This site used to be the old dumping ground for the local authority which was occupied by the DWP and warehouses/ storage for old buses. Now transformed by the developers which has plans to build approximately 200 new homes. Like with any new development under section 106 rules there is some social housing present however, these are given under the owner-occupier tenure of shared ownership leases.
Personally I like new builds which are built well. They usually come with a retention period of at least 12 months from the builder and NHBC guarantee of 10 years. There is no refurbish work to undertake and with the decoration done all the tenant has to do is move in with furniture to make it a home. What I particularly like about this development is the potential for capital appreciation. In recent years, whilst many areas of Walsall has undergone regeneration of one type or another the northern part of Walsall has seen, by way of comparison, very little. The good news is that many developments are now going up with lots of other regenerative plans for the area. Over time these areas will become attractive and appealing to both home buyers and renters. A healthy recipe for potential capital appreciation.
Slightly pricey at £130,000 I would certainly negotiate and see if I can reduce the asking price but even at this price you would be able to easily achieve a yield of 5.5%.
If you would like my opinion on any investments please feel free to send me the links and I’ll happily share my opinion with you. I can also assist with the whole buying process if you are a new buy-to-let investor from negotiating to assisting with arranging a mortgage and of course finding you a half decent tenant!
Phone: 0345 257 9850/ 01922 637672