Belvoir have listed a lovely apartment in Waterside Apartments- it’s rare to see a property for sale here and it’s listed at £140,000 so I had to have a look! This development is known for being a desirable spot for professional tenants. Similar apartments have let between £775 pcm and £875 pcm making a potential yield of between 6.6% and 7.5% yield. I know that’s not the greatest of returns when factoring in service charges but when it comes to capital growth…
Rightmove have issued their House Price Index recently and according to this, the average price of a two bedroom apartment in L3 is £180,000. This particular apartment is on the outer part of the City Centre but on prime land with waterfront views so I would say £160,000 would be a fair valuation yet the asking price is £140,000. The vendor is clearly motivated.
I think this is a gem of an investment and Lori at Belvoir agrees. I spoke with her for some information and she advised there are already multiple viewings booked in for this weekend. I also noticed the apartment is currently let to a company and has been for three years. My advise it to view asap. The full details can be seen here.
As always, comments or questions are more than welcome.