I’ve spotted a two bedroom 4th floor apartment on The Reach which is currently available for only £110,000.
The property currently has a tenant living in it and they are paying an annual rental income of £7,500 which I believe to be too low for this development. As the property comes with parking, then I feel you should be achieving closer to the £8,100 per annum. I’ve not been in this apartment but looking at the photos online, it looks like it has great layout and good views of the City. The Reach development offers a concierge as well as spacious apartments and they always prove very popular with tenants looking to live in the City Centre.
Two bedroom apartments originally sold for between £140,000 and £180,000 and although there have been a few properties sold below £110,000, then I feel purchasing this property with a great view and parking would be an excellent purchase.
Click Here to view previous sold prices in the development
The property is currently up with two agents so this may be a repossession but I would still advise trying to put a offer in below asking price to see if the vendor is willing to accept it.
Click Here to view the property
If you are interested in the property, then I have a good relationship with these agents and I can assist with the purchase of this property. Contact me on firstname.lastname@example.org if you need my help