Investing in property has always been considered a fairly safe bet in the long run and the yield is often a secondary consideration. A Countrywide study now shows that a buy-to-let property will produce an average return of 5.6% to 6.8% which with the interest on savings a an all time low is very attractive.. At the Pearsons auction on the 1sy May we will be selling 13 lots including 3 Dimond Close and 138a Radstock Road offering a return on the guide price of over 7.5%! Investors can call us for more information.
Investing in residential property is popular with the wealthy and this is for a very good reason. Where else can you expect a return of over 7% with little chance of losing your capital? On the 1st May we will be selling 138a Radstock Road, Southampton. A flat with 2 bedrooms and a garden. Included is a share in the freehold. The income when let is likely to be £8,100 per year, the guide is £110,000. This is a rate of about 7.3%! What is more, if you choose when to sell, the history of the property market here suggests the value will increase over time.
Added to the catalogue for the auction on the 1st May is Gray Thatch, an 18th century cottage in Rownhams set in private gardens at the head of a private cul-de-sac. As the name suggests this is a delight with living room, kitchen, bathroom and 2 bedrooms below a thatched roof which has been recently overhauled. To be sold vacant over £175,000 is sought allowing potential for extension, subject to planning.
TO BE SOLD BY AUCTION ON THE 1ST MAY 2013 (Unless previously sold)
3 Greenbanks, St Johns Road, Wroxall, Isle of Wight
Guide price £80,000
• Ideal buy-to-let with development potential (subject to consents)
• First floor flat extending to over 1,300 sq. ft. plus loft space
• Estimated rental value £7,800 pa.
• To view call the auctioneers office
Wroxall is a small village with a population of approaching 2,000 and lies some two miles north of Ventnor surrounded by farm land and county side in the beautiful Isle of Wight. There are excellent local amenities including a general store, a Post Office, a choice of pubs and regular bus services. The Wroxall Primary School is in the village and there are six secondary schools on the island.
Greenbanks is a substantial house of character built in the 1870s and flat 3 comprises a large part of the first floor and benefits from loft space above. The accommodation extends to over 1,300 square feet and is arranged as three bedrooms, an imposing living room, kitchen and bathroom. Outside there is a private garden, space for a garage, subject to planning and use of visitor parking.
There may be the possibility, subject to consents, of altering the property with further use of the loft area and/or sub-division to form two separate units. This is a property which would be ideal for an investor, to enhance and improve the value, to own as a holiday property or as a comfortable village residence.
A property in The Close, Thornhill Park, Southampton, a “Collins” house, set in a tree-lined private cul-de-sac and has been entered in our May 1st auction. 2 reception rooms, 3 bedrooms, original fireplaces and a long enclosed garden make this a special opportunity. In need of up-dating and offered with vacant possession the guide is £170,000.