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Saturday, July 26, 2014

Study in active management - 10% yield

Dukes Lodge, 246 Duke Street, SHEFFIELD, S2 5QQ

This property in Sheffield is a study in how to manage a property by an active landlord.  They are rewarded for their hard work by an almost 10% yield.  Don't think that it just happens.  This isn't the best of areas in Sheffield or though it's a handy location near the train station and city centre.  I can tell at a glance that this property has been actively managed.  The property clearly has been improved, the vacancy rates over the last 3 years are practically non existent.  The type of units are just the type to be inhabited by young singles, with probably a high turnover of tenants.  The yield at almost 10% is high but you would need to factor in a few days of management and maintenance time each week.  Having said that the property provides and opportunity for a healthy net income from it's £65,000+ of rent.  Don't expect much capital appreciation in the short-term even with the recently improved Park Hill Flats just up the road. With rents and occupancy maxed out it definitely one for an active manager landlord who wants income.
  • Freehold
  • 14 Studio apartments
  • Fully let
  • Subject to AST's
  • Current rent passing £65,280 pa
  • Gross Initial Yield 9.7%
  • Off-street parking for all apartments
Offers invited in excess of £675,000 subject to contract

For more information contact:

Jack Robson +44 (0)113 243 7952
James Wilson +44 (0)113 236 6679

Mortgage Search - expert broker

1 comment:

Anonymous said...

I have 5 flats in the same block for sale. Very convenient location in the centre of Southampton, popular with students and close to Central Station. Yield circa 8.5%. Selling because can't manage it as actively as it requires.

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