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5 bedroom town house for sale

Nash Drive, Redhill, RH1

Under Offer £400,000

Property Description

Key features

  • Five Bedroom Investment (HMO)
  • 5 Minutes from Redhill Station
  • 31.3% Gross Annual Yield (with finance)
  • 5 Minutes from Redhill Town Centre
  • 1308 Square Feet
  • Vacant Possession

Full description

Five Bedroom Investment | 31.3% Gross Yield (with finance) | Possible via House of Multiple Occupancy (HMO) | Four Double Bedrooms (one en suite)| One Single Bedroom | 1308 Square Feet | Vacant Possession | Close to Town | Close to Station | Parking | Rear Garden

A great investment for an existing portfolio or an opportunity to hit the ground running with your first. HMO’s (House of Multiple Occupancy) provide greater security against rogue tenants and the ability to evict. They are also at much lower risk of void periods.

With the interest rate cut to their lowest rate again, it reflects the theory of most credible economists that interest rates will be staying low for much longer than originally planned. If you have cash deposited in a bank account it’s likely to be eroded by inflation with such low interest rates on offer.

Buy to let mortgage rates are the lowest they have been for some time, rather than purchasing cash, wouldn’t it be wiser to earn money of somebody else's money too?

Below you’ll find out the rough figures to consider this investment. It’s still an inflation busting yield as a full cash purchase but with finance it has massive potential to make very large gains from a modest investment of just £106,250 @ 75% loan to value.

The property consists of...
1 x Double Bedroom @ £600
3 x Double Bedrooms @ £575
1 x Single Bedroom @ £450
Annual Income = £33,300

Illustration:}...
With finance @ 75% loan to value, based on purchase price of £425,000
Mortgage term; interest only @ 2% fixed rate.
Deposit required: £106,250
Annual income = £33,300
Gross Yield = 31.3%
Less; Annual Mortgage payments = £6375
Less; Annual Bills = £5100 (Water, Gas, Electric, TV License, Council Tax estimate)
Net Annual Profit Potential = £21,825
NET ANNUAL YIELD = 20.5%

We’re not here to provide the finance, just credible solutions. We can recommend brokers and financial advisers but they are not affiliated with Power Bespoke.

Gross Yield (for comparison) based on a purchase price of £425,000 with cash = 7.8%

Net yields not including purchase costs and fees.

Guide Price £425,000 - £440,000

Parking Arrangements: Driveway
Vendors position: NO CHAIN
Council Tax Band: E
Property Built: Circa 1970’s
Potential to add value/extend (stpp): Self contained flat on ground floor would add value.
Tenure: Freehold
Age of Boiler: TBC
Windows Installed: TBC
Garden Fence: To the rear and right (please verify through solicitor)
Garden Shed: Included
Garden Direction: West
Nearest Train Station: Redhill. Services to London in 30 minutes.

More information from this agent

Listing History

Added on Rightmove:
03 September 2016

Nearest stations

  • Redhill (0.4 mi)
  • Earlswood (Surrey) (1.2 mi)
  • Merstham (1.5 mi)
Distances are straight line measurements from centre of postcode

Nearest schools

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To view this property or request more details, contact:

Power Bespoke, London, Surrey & Sussex

Power HQ The Courtyard Business Centre Lonesome Lane Reigate Surrey RH2 7QT

01737 246777 Local call rate

How much will it cost me to call the number displayed on the site?

Standard geographic charges from landlines and mobiles apply and calls may be included in your telecom provider's call package.

Floorplans


To view this property or request more details, contact:

Power Bespoke, London, Surrey & Sussex

Power HQ The Courtyard Business Centre Lonesome Lane Reigate Surrey RH2 7QT

01737 246777 Local call rate

How much will it cost me to call the number displayed on the site?

Standard geographic charges from landlines and mobiles apply and calls may be included in your telecom provider's call package.

Map & Street View

Nearest stations

  • Redhill (0.4 mi)
  • Earlswood (Surrey) (1.2 mi)
  • Merstham (1.5 mi)
Distances are straight line measurements from centre of postcode

To view this property or request more details, contact:

Power Bespoke, London, Surrey & Sussex

Power HQ The Courtyard Business Centre Lonesome Lane Reigate Surrey RH2 7QT

01737 246777 Local call rate

How much will it cost me to call the number displayed on the site?

Standard geographic charges from landlines and mobiles apply and calls may be included in your telecom provider's call package.

Disclaimer - Property reference 187256S. The information displayed about this property comprises a property advertisement. Rightmove.co.uk makes no warranty as to the accuracy or completeness of the advertisement or any linked or associated information, and Rightmove has no control over the content. This property advertisement does not constitute property particulars. The information is provided and maintained by Power Bespoke, London, Surrey & Sussex. Please contact the selling agent or developer directly to obtain any information which may be available under the terms of The Energy Performance of Buildings (Certificates and Inspections) (England and Wales) Regulations 2007 or the Home Report if in relation to a residential property in Scotland.

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