Bingham’s great location close to Nottingham and The A46 make it a popular location with professionals commuting daily. It also has great Primary and Secondary Schools so it appeals to families – after all it was in 2013 named the best place to raise a family.
What’s on the market that would make a good buy to let investment for professionals?
I have seen a 2 bed apartment for sale with Newton Fallowell for £ 132,950, this apartment is in a gated complex and is private and modern with an en suite.
It would easily achieve £600 pcm – giving a potential return of 5.4% but any investor must take into account the leasehold management fees payable monthly. It is worth checking what apartments in this development have sold for in the past and there are 2 that sold in 2016 for a higher price than this apartment’s asking price.
Alternatively you might like to consider an investment aimed at the family market. Frank Innes are marketing a 3 bed semi detached property on Skylark Close. It has off road parking, a dining kitchen and a garden. This is being marketed for £190,000 and would achieve £ 700 pcm. Whilst the rental return on this is slightly lower than the apartment at 4.4%, there are not the leasehold fees to consider and I would expect it to would see a better rate of capital growth over the years.
If you are considering investing in property please give me a call. As we only deal with letting property we are able to give you an honest opinion of the rent that is achievable and help you to make an informed decision.
Keep an eye on my property blog for potential investment properties from across the market. Katie Archer 01949 714101.