A property in the City Centre under £100,000 always jumps out at me and this 1 bedroom on Kings Dock Mill is no exception. Kings Dock Mill is a very popular development for professional tenants; it’s situated on the doorstep of the Baltic Triangle which is proving a thriving neighborhood in an up and coming part of the City.
One bedrooms here let between £525 and £595 pcm so calculating from a happy medium of £550 and paying full asking price, the yield would be 7.7% yield before service charges which aren’t displayed on the details. Definitely double check the service charge and ground rent costs but if the figures stack up, you would have a very lettable property in a prime location.
The full details for the property can be seen here. It was reduced to £84,950 on 6th April so looks like there is a motivated vendor!
As always, comments and questions are welcome.