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Investment property for sale stowmarket, Suffolk, east Anglia

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Author Topic: Investment property for sale stowmarket, Suffolk, east Anglia  (Read 463 times)
Newbie
Posts: 2

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« on: October 10, 2018, 11:56:21 AM »

Hello I'm posting our rental property which we have dediced to sell. At first we're looking for an investor as we have good tenants who have a desire to stay if we can sell to another landlord. Same tenants for 3yrs. The area is desirable and very rentable.

 Reason for sale is purely we've moved away from area so feel better to have something close by.

Price - 230000
Current rent - 900 pcm
Gross yield 4.7%
Hpi growth 5yr: 32%

https://www.rightmove.co.uk/property-for-sale/property-76202165.html


Personally feel great opportunity, as competitively priced for the area and already has very good tenants.

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Posts: 3216

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« Reply #1 on: October 10, 2018, 12:29:20 PM »

That's a poor gross yield. I have a property purchased for 202,000 (probably still worth that) bringing in 1,200 per month (I could've gone to 1,250 this year, but the Tenants did stay on and they're OK). If you sell to another Landlord your expectations of asking price are likely to take a good kicking... Landlords (unless they're quite green) aren't likely to go around paying close to the asking price. Please ensure you state whether you, or your Agent, protected the 1,350 Deposit correctly. Good luck. This is not a promotional thread, as such, so I'm happy to leave it in place.

Your advert says it's freehold, but then gives a lease of 999 years from 2014..?
« Last Edit: October 10, 2018, 12:31:09 PM by Hippogriff »
Newbie
Posts: 2

I like property

« Reply #2 on: October 10, 2018, 02:58:43 PM »

Thank you for your response. We have not put the rent up on the property since letting, over 3 years ago, but that was our choice due to good tenants in place, others in the area do achieve more. I always happy to negotiable to some degree and aware investors will wish to look at the figures, but if we don't achieve the desired offer in time, we will put on open market rather than looking for an investor, and will definitely achieve the asking price (if not more). We have tenants in place who don't wish to move, but don't want to buy, so to avoid loss of income etc from open market we're looking for investors. If no-one is honestly interested we will rethink, but the area has great links, good schools and seen good capital growth.

Deposit is secured through agent and tenancy agreement.

It is freehold, not leasehold.

Regards
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