2 Bed Apartment with potential yield of 7.9% in Bentley, Walsall!!

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This 2 bed semi is situated at Solar House, Pendlebury Close, Bentley, Walsall, WS2.  On the market with Centrick Property Nationwide (0121  411 0671).  Priced at £89,950.  Full details can be found by following the link below:

http://www.zoopla.co.uk/for-sale/details/photos/38341722

My readers/ clients & followers all know that I’m not keen on flats/ apartments (I say this and you say that…) for various reasons I have shared in past articles.  However, I am noticing some great deals and can’t help but share these with you.  As I searched for some buy to let deals today I was wondering what I would come across.  The above apartment caught my eye as it has just come on the market and the potential yields achievable is very impressive to say the least.

 

In contrast to the neighbouring cities (Birmingham & Wolverhampton), you would not only net a bargain with this flat at a relatively decent price but at a gross yield of 7.9% the buy to let landlord can hope to achieve a healthy gain.  The area around Bentley, Walsall is undergoing some housing development and has been consistently for the past 10 years or so.  Therefore, the long-term investor can hope to make a decent capital gain in the not too distant future as well as receive a nice return whilst holding on to this apartment.

Situated just along off the Black Country Route and close to junction 9 of the M6 this makes an ideal pad for the single professional or a couple with one child.  Before buying I would enquire about the service charges and the terms of the lease needs to be scrutinised by a qualified professional.  I’ve seen many developments over the years which have deteriorated quickly due to the set-up of service charges either being inadequate or the appointed managing agents being completely incompetent.  Leases can be a minefield and one has to be fully conversant of the consequences if they are not fully understood from the start.  Net yields can be just as quickly decimated if you are not careful with inappropriate costs of Section 20 (major works) due to a lack of foresight by property managers not to mention inexcusable mismanagement of the service charge.

If you require any assistance buying leasehold or freehold property in the local market please do not hesitate to pick up the phone or email me.

Phone: 0345 257 9850/ 01922 637672

Email: salekm@ashmorelettings.co.uk

 

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