As I am always looking through property portals such as Zoopla and Rightmove, I feel it is only right that I put any properties that I feel will make a fantastic investment onto my property blog.
The property that I have come across is available at auction on 17 December 2015
It’s a two bedroom purpose-built apartment located in the heart of the city centre on Hatton Garden, it is currently rented out as a serviced apartment and therefore has a contract with a specific company renting this property out for the next eight years. The current gross rent that the property is achieving is a staggering £956 per month equals a total of £11,473 per year. This property is currently available at a guide price of £90,000.
If you were lucky enough to be able to purchase this property for £100,000 then the gross yield would be a whopping 11.47% which is a fantastic yield for the most hardened investor. The problem with this property is that it is contracted to be rented out for the next eight years and this is why the price is low as you may not be able to get finance to purchase this property.
If this property was available on the open market now then you would be almost certain to achieve at least £130,000.