here is another interesting flat that i wanted to share with you this week. This is a self-contained studio flat, though different from the norm. Inside it's pretty generous and coming in at 339 sq. feet,
so larger than average and features a mezzanine floor for the sleeping area. Offered in great all round condition with lots of period features, wood floors, space for dining and fitted storage. Located on Fellows Road which is a popular road in Belsize Park as its located within a short walk of Primrose Hill Park, shops on England's Lane and the tube at Swiss Cottage (Jubilee Line).
So what about the rent ? well,its larger than average size means it will also achieve a little more than usual and i would suggest a rental of £1260 per calender month. Compared to the asking price this will give you a gross yield of 4.5%, which is about average for the area. Here's the good bit though..... your target audience for tenants is a single person or couple which are in constant supply, so occupancy rates will be generally high, helping to "avoid the void". The other side of the coin is about capital gain, however. The average lifespan for investments nowadays is around 15 years. This flat was last on the market in 2002 and sold for £167,000.Compared to today's price, that's an increase of 106.5% or in monetary terms £178,000.Taking into account the usual selling expenses and tax liabilities, it still leaves plenty of profit, no "super saver" bank account will give you that!
If you are in this for the long haul, then the figures speak for themselves. The desirability of the location means that there is only one way the yield and the capital will go. On the market with Hadleigh on Belsize Grove at £345,000.
http://www.zoopla.co.uk/for-sale/details/36507002
For impartial advice about buy-to-let property in the NW3 area, feel free to email me chris@ashmoreresidential.com or pop in to the office on Heath Street for a chat over a cup of tea or coffee.
If you are looking for an agent with experience that can help you find the right tenant for your property, then contact us to find out how we can get the best out of your investment property. Email me on chris@ashmoreresidential.com or give me a call on 020 7435 0420. Pop in for a chat – we are based on Ashmore Residential, Suite 7, 25-27 Heath Street, London, NW3 6TR. The kettle is always on.
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