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Key selling points
- 1 bed apartments circa £99,950 Gross, £86,913 Net
- 2 bed apartments circa £116,500 Gross, £101,304 Net
- 15% Discount!!!!!!
- Rental Cover Circa 113%
- Ground rent and service charge covered in year one!
- £5,000 Reservation covers all costs!!!
We have sourced a popular new development of luxury apartments just outside of Barnsley. The development is ideally located for first time buyers and tenants alike! The are only 4 apartments now remaining, 1 beds priced at £99,950 with a 15% discount and 2 beds priced at £116,500 with a 15% discount (Net price £101, 304... meaning No money into the deal and 100% finance on the higher value!!). There will be No ground rent or service charges in year 1 as these are covered, the apartments wll produce a yield of just under 6.5%.
The development is located in the village of Monk Bretton, a suburb of Barnsley, South Yorkshire, approximately 2 mile from the Town Centre. This is a new build scheme over two floors consisting of 6 one bedroom apartments and 6 two bedroom apartments. Monk Bretton is ideally located, being situated just two miles to the east of Barnsley town centre and six miles from Wakefield, the
village is ideally located for both commuters and families alike.
The development is a stunning new build block of twelve apartments made up of six one bedroom and six two bedroom spacious apartments, ideally placed to
take advantage of all the local amenities. There is an allocated parking space for each apartment, Completion is set for April 2008.
The apartments will be bright and airy with large picture windows to the lounge area, they will boast contemporary fixtures and fittings, and fully integrated high quality fitted kitchens with stainless steel oven, hob and extractor also featuring integrated fridge-freezer and washer-dryer. The luxurious
bathrooms come complete with white three piece suite and over bath shower complimented with contemporary tiling to the walls. The apartments will come complete with floor coverings which will be vinyl to wet rooms and carpet to
remainder. The spacious lounge will boast fitted carpets and TV point along with provision for a digital satellite system. The kitchen will be fitted with a range of
designer units along with stainless steel oven, hob and extractor, also featuring a washer-dryer and fridge-freezer, complimented with vinyl floor coverings.
In summary it is our feeling that the prices quoted are very competitively priced relative to the apartment sizes, as the development is a smaller scheme with a equal mix of 1 and 2 bedroom accommodation coupled with a lack of this type of accommodation - in the area we feel the prospect of early rentals is strong.
Apartments of this size in this location will achieve rentals of circa £425 pcm for 1 bedroom apartments and circa £495 pcm for 2 bedroom apartments - these figures have been further corroborated by, Martin & Co of Sheffield Tel 0845
4086991 who are renting apartments in Monk Bretton at similar prices. We also have local letting agents who are very keen to take these apartments on and feel they will rent quickly.
Cash Flow (1 Bed example)
Purchase price - £86,913 (inc. 15% discount)
Deposit - £0 (based on 85% LTV of Higher value, £99,950)
Rent - £425/month
85% (higher valuation) Mortgage at 5.25% - £323/month
Management (service) 10%+vat - £0 (year1)
Insurance - £15
Net Income - £83
This high yielding investment property will provide a net income of Over £80 a month, after all costs. We expect these apartments to Go very quickly, So Please make an enquiry today!! A £5000 reservation fee will cover all costs, including legal, finance fees and bridging finance for the discount payment!
We source more high yielding buy to let deals in the UK than any other company, and have a proven track record. We regularly feature in the property magazines in the UK, and only source in local hotspots where our local finders operate from, and in areas we invest in ourselves.
This area has excellent rental property and continued strong capital growth offering fantastic value to buy to let investors. As with any property of this type and age we would recommend that investors always allow up to £1000 for points that may be raised in the survey.
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